Chairman Okuda's Press Conference

March 30, 2006

Following is the gist of remarks made by Mr. Hiroshi Okuda, Chairman, Keidanren, at a scheduled press conference on 30 March 2006. Translation is rush and tentative, and sequence of the gist does not necessarily coincide with words delivered.

(On stock price, state of Japan's economy, issue of widening income disparity)

On the whole, stock market is on rise based on economic recovery, improving corporate performance, and other positive materials.
In a market economy, income disparity is a no strange outcome. The government must provide a safety net for the weak, and there must be a system in which losers could attempt recovery shot. Excessive correction of income disparity will bring equal results that is against market economy principles.

(On expectation towards the Diet)

The Diet must pass important laws including laws promoting administrative reforms.

(On Prime Minister Koizumi)

He must receive credits for leading and reforming Japan to economic recovery we see today. It is fortunate that vector of his reforms were similar to that of Keidanren's positions.

(On Koizumi's successor)

Mr. Koizumi's successor must succeed his reforms, follow them up, and develop a new dimension in diplomacy.

(On recent investigations led by Japan's Fair Trade Commission)

It is difficult to take position as I am not aware of the details. "Dango" is a wrong act. Government-led "dango" and abolishing golden-parachuting will be discussed along with revising of the Anti-Monopoly Law. I hope many of the issues at stake will be resolved by then.


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