Chairman Mitarai's Press Conference

May 24, 2006

Following is the gist of remarks made by Mr. Fujio Mitarai, Chairman of Nippon Keidanren, at a press conference following the Federation's annual general assembly on 24 May 2006. Translation is rush and tentative, and sequence of the gist does not necessarily coincide with words delivered.

(Asked on his "key-words" in running Keidanren office)

I would like to "innovate Japan" during my term of the office so that Japan's economy and technology would grow steadily. By doing so, Japan should become a society full of dreams, a society in which those failed could easily seek another opportunity, and a society that offers helping hands to the weak.

(Asked on relationship with politics)

Politics and businesses are two motors of social change and social growth. It is important that two are close enough to frequently exchange views and share visions, but such must be done without collusions.

(Asked on economic outlook)

Japan's stock market is in rough water now, but economy in general is recovering steadily. As the result, increasing number of companies is turning in better results, employment is improving, consumer price index is in positive, and interest rate is low.
It is also fortunate that economy around the world is growing. According to IMF and the World Bank, growth estimate is 4.9% for 2006, and 4.7% for 2007. I think this trend would continue for near future.

(Asked on relationship with neighboring countries)

It is important that frequent contacts in a variety of levels must be exploited in any bilateral relations, especially with neighboring countries, and executive office of two countries should be able to meet at any time.

(Asked on introducing foreign labor to Japan)

As it is certain that Japan will be shorthanded on labor because of fewer children, Japan must establish concrete bilateral framework, such as Economic Partnership Agreement, to systematically introduce foreign labor.


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