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Executives' Comments  Press Conferences Chairman Yonekura's comments at his Press Conference

January 25, 2012

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.

Annual Spring Labor-Management Negotiations

A wage increase does not directly create demands. Instead, it is more important to improve the harsh business environment and to realize economic growth. The labor representatives claim that the cash wages have decreased from 1997 level but the special earnings, such as annual bonus and lump-sum payment, depend largely on economic conditions and corporate performance. Since cash earnings other than annual bonus and lump-sum payment are increasing, there are not sufficient reasons to demand a wage increase of 1%.

Growth Strategy

Facing harsh economic conditions, there is no easy way to achieve a 2% real GDP growth. It is important to compile a roadmap to implement the Growth Strategy steadily and to promote concrete institutional and regulatory reforms.

Fall Enrolment in Universities and Colleges

The recommendation by the University of Tokyo is an endeavor to lead to secure excellent human resources with diverse experience such as studying abroad and volunteer activities and development of global human resources. President Hamada has made a great effort to globalize the University of Tokyo and business community appreciate his efforts and support the university's endeavor.

Trade Deficit

Disruption of the supply chains, delay of product delivery caused by the Great East-Japan Earthquake and historic strong yen are primary factors behind the trade deficit. It is deeply concerned that the trade deficits may be stabilized if the strong yen continues. Japanese companies should make sustained efforts to accelerate innovation and provide the market place new technologies and products.

Executives' Comments