Following is the gist of remarks made by Hiroshi Okuda, Chairman, Keidanren at a scheduled press conference on 22 December 2004. Translation is rush and tentative, and sequence of the gist does not necessarily coincide with words delivered.
(On Koizumi Cabinet performance in 2004)
Initiating a variety of reforms is a good sign. Developments were especially visible in reducing central government's subsidy to local governments, post office reforms, and privatization of Japan Public Highway Corporation.
(On the status of Japan's economy in 2004 and outlook for 2005)
Japan's economy did fairly well as Prime Minister Koizumi's reforms bore fruits while the U. S. and China's sound economy contributed to expansion of exports. 2005 economy will be determined by outside factors such as situation in Iraq, crude oil prices, foreign exchange, and state of economy of the U. S. and China.
(On the U. S. economy and China's currency Yuan)
No slowdown is foreseen in the U. S. economy as housing and car sales are sound. China's Yuan is not expected to change as much to bring a large impact on Japan's economy.
(On Japan-China relationship)
No big economic impact is visible between the two countries as their political relationship is not as well as the economic. Bilateral summit meetings in Chile and Laos should be a step forward.
(On 2005 labor-management relationship)
Both parties must discuss on a variety of issues including systemic reforms, without focusing on wage issue alone. Wage could be discussed by each company and should not be discussed and set nationwide.