Chairman Okuda's Press Conference

December 19, 2005

Following is the gist of remarks made by Mr. Hiroshi Okuda, Chairman, Nippon Keidanren, at a press conference on December 19, 2005. Translation is rush and tentative, and sequence of the gist does not necessarily coincide with words delivered.

(On recalling Japan's 2005 economy and outlook of Japan's 2006 economy)

It is certain that Keidanren contributed in some facets to improve Japan's economy in cooperating with Koizumi regime.
Japan's 2006 economy will carry over the same risk factors from 2005, including domestic and global political stabilities, as well as energy prices. Nevertheless, I expect that Japan's economy should grow at about 2%.

(On 2006 spring labor negotiations)

Employees might ask for a larger share of improved corporate performance including wage increase. However, labor and management should regularly meet and discuss on a larger scope.

(On outcome of WTO Hong Kong ministerial meeting)

The result of the meeting is no less than what was expected. Governments should try to wrap up the new round of negotiations as soon as possible.

(On previous comment on the state of state of economy in Japan)

I forewarned on possible recurrence of the bubble-era problems only because I observe the trend of privileging money-gamers erupting in Japan. Economic "winners" should maintain kindness and sensitivities towards weak and concerned.


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