Chairman Okuda's Press Conference

June 13, 2005

Following is the gist of remarks made by Hiroshi Okuda, Chairman, Keidanren at a scheduled press conference following monthly Chairman and Vice Chairmen's meeting on 13 June 2005. Translation is rush and tentative, and sequence of the gist does not necessarily coincide with words delivered.

(On G8 financial ministers' meeting)

It appears that there were discussions on reforming Chinese currency, but I don't foresee proactive reaction from China. If realized, currency reform should not bring heavy repercussions on Japan's business strategies. On reduction of outstanding debts of African countries, there is significance for Japan to provide aid to poor and starving African nations in line with other G8 countries.

(On inviting ITER to Japan)

Japan should keep trying to invite ITER as the host nation would be decided by the G8 summit in August.

(On Prime Minister Koizumi's visit to Yasukuni shrine)

Prime Minister Koizumi will study the implications between his own belief and national interest. It is necessary to be considerate upon incorporating care on Japan's neighbors.

(On bid-rigging on steel-made bridge)

Keidanren is carefully studying the case. The result may bring membership disciplines to those concerned.

(On the next round of tax reform)

It is said that the government's tax council is trying to reduce base tax deduction on salaried workers or on non-working spouse. If the outcome would bring about tax increase, the government must also bring about sharp expenditure cuts such as reduction in social security expenditure and government payroll.


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