Chairman Mitarai's comment at his press conference

September 8, 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 LDP presidential election )

The Japanese economy is slowing down and feelings of confinement among the people are spreading. Policy debate about business stimulating measures, economic growth strategy, and package reform of tax, fiscal, and social security systems should be thoroughly discussed in the election campaign process.

( Fight against terrorism )

Keidanren strongly supports the Japanese government in confronting terrorism. Japan never survives without peace and stability of the world as well as secured energy resources supply. The business community shares the sense of crisis. Therefore, Keidanren is definitely in favor of extending the Anti-Terrorism Special Measures Law. The ruling and opposite parties should have a constructive argument towards the goal, thinking highly of national interest.

( Rescue plan for GSEs by the U.S. government )

The rescue plan is remarkable. It will contribute to calming down the anxiety in the financial market. With the policy decision, the U.S. has made it clear that the government is firmly committed to take any further actions whenever necessary.

( BHP Billiton's offer for Rio Tint )

JFTC has started a formal consultation on the M&A case. It is a good decision and action. Increasing natural resource prices have been damaging not only business activities but also people's daily life all over the world. Further oligopoly in the market will have more serious effects on the world economy.


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