Chairman Mitarai's comment at his press conference

( Labor-management negotiations )

The Japanese economy is getting worse amid the global economic downturn. Most of the private research institutes have pessimistic views of the economy in the second quarter of 2009. Under these circumstances, a very small number of companies seem to be able to meet a demand of "Base Up" or monthly base raise. "No regular pay raise" is not fantasy in some export-oriented companies.

( Economic stimulus measures )

The FY 2009 budget and related laws should be passed in the Diet without delay, followed by the swift completion of the FY 2009 supplementary budget.
Following policy measures should be included in the package:

1. Incentives for purchase or replacement of green cars, green household appliances and houses
2. Infrastructure improvement such as loop roads in big cities and freeways under construction in local areas
3. Reinforcement of safety nets for stabilizing employment situation

The supplementary budget is anticipated to amount to around 25 trillion yen, enabling a large scale and quick acting business stimulus policy.

( Policy measures to improve financing conditions of companies )

What the government and BOJ have done to prevent a mounting liquidity crisis is fairly good but not perfect. There are untaken stock-support measures with public money to improve banks' financial standing and avert a liquidity crunch.

( Japan-U.S. summit meeting )

A good and close Japan-US relation is essential to the piece and prosperity in Asia-Pacific region. The summit meeting is anticipated to reinforce the relationship. The strongest business partners should confirm the commitment to get out of the economic hardship immediately and sustain the WTO to prevent a rise of trade protectionism in the process of recovery.