Chairman Mitarai's comment at his press conference

June 9, 2008

Following is the gist of remarks made by Chairman Mitarai at his Press Conference. Translation is rush and tentative, and sequence of the gist does not necessarily coincide with words delivered.

( The Keidanren mission to central and eastern European countries )

The fruit of the trip was big. The government and business leaders of the three countries, Hungary, the Czeck Republic and Poland understood and supported our basic stance on Japan-EU EPA and global warming issue. The mission members witnessed that the three countries have drastically changed their industrial policy target from assembly type manufacturing to high value added and knowledge oriented industry.

( Aid to China damaged by the huge earthquake )

Our fund-raising activity has continued in a spirit of friendship and humanity. The initial target, 300 million yen has already been reached. More than 600 million yen of good will is in our collection box. Our member companies also have taken their own actions to help people in trouble. Their support sums up to about 2.7 billion yen. Keidanren's help to our neighbor, China is not over.

( The Japanese economy )

The Japanese economy has been slowing down still more. Business will pick up gradually in Japan when with a big help of the large scale income tax reduction and a succession of interest rate cuts, the US economy begins to recover in the third quarter of 2008. If the US economy remained stagnant for a long time, the world economy would not be free from its influence.


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