Chairman Okuda's Press Conference

November 7, 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 7 November 2005. Translation is rush and tentative, and sequence of the gist does not necessarily coincide with words delivered.

(On nominating next Keidanren Chairman)

I nominated Mr. Fujio Mitarai, President & CEO of Canon Inc., to the next chairman of Keidanren at today's Chairman and Vice Chairmen's meeting and received unanimous approval. Official approval will be granted at the annual general meeting in May next year.
Mr. Mitarai is a man of wisdom. His company and he himself possess international background.

(On Tokyo Stock Exchange's Nikkei average recovering 14,000 yen)

Those who have money go into the securities market when the market goes up. This helps stock price to rise further.

(On the Special Funding Source System for Road Works)

There are many areas requiring improvement in national road network where the earmarked fund should be utilized.


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