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Executives' Comments  Press Conferences Chairman Yonekura's comment at his press conference

July 25, 2011

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

Train accident in China

I extend my heartfelt condolence and sympathy to the victims of the catastrophe. Railway networks will play a significant part in the development of the public transportation system in China which has a large population on its spacious land. Immediate investigations into what caused the accident need to be thoroughly carried out, leading to perfect preventive measures.

Electricity saving in Kansai

Companies are doing their business in the right places to survive the global economic competition. Under such circumstances, Japanese companies have continued their business in Japan to ensure employment in the domestic labor market. The Japanese government, however, has not implemented necessary policies, piling up burden on Japanese companies. Unstable supply of electricity in Kansai area can force more companies to move their production overseas.

Exchange rate level

The global market has been anxious about what is going on in Europe and the USA: the Greek financial crisis, the delay in the recovery of the US economy and slow progress of between the President and the congressional leaders over the debt ceiling raise. Against the background of the financial situation of major economies, the Yen is now regarded as safest currency. Though stronger Yen has a variety of advantage, Japan cannot acquire enough foods, energy and resources without getting profit from trading. An early recovery of the adequate exchange rate level is required.

Second supplementary budget for fiscal 2011

70% of the debris has not been yet cleared from the devastated area. In consideration of the hardship and sentiment of people in the disaster-stricken areas, the government has no other priority but immediate action for the restoration.

Executives' Comments