Chairman Mitarai's comment at his press conference

March 8, 2010

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.

Political donation

The private sector-individuals and companies is the supporter of politics. Companies can contribute to development of the society with their voluntary donations to political parties. This is Keidanren's basic stance on political donation. We have not changed the principal, still expecting our members' social contribution, but reconsidered our role.
Keidanren evaluated policies and political achievements of two parties, Liberal Democratic Party and Democratic Party of Japan for our members' reference. It worked, but the time has come. The method is not sufficient and flexible enough to meet a need of the new era of the Japanese politics. We have decided to walk away from our tradition.
Contribution by individuals is another big supporting engine for politics. Keidanren is considering how to ensure an expansion of their donations.
Keidanren will view not what political parties are doing, but how our opinions on key issues are reflected in politics and policies. It needs a self-evaluation through PDCA (plan-do-check-act) cycle. We have just begun discussions to generate it.

Corporate disclosure to investors

The Financial Services Agency intends to expand companies' disclosure to investors. But the plan is highly controversial. Firstly, is it the right time? The revision would impose unnecessary burden on companies which have already provided the stock market with enough information such as quarterly settlement and internal control report. Secondly, the Japanese corporate executives' salary level and system of their payment differ from those of the US and Europe. The disclosure of individual business leaders' reward will risk their privacy and security.

Special incentives for eco friendly housing investment

The "eco-point" will play an important role in vitalization of housing investment, one of the major driving forces of domestic demands. The incentive will also make a valuable contribution to green house gas reduction.


Home Page in English