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

March 24, 2014

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.

Japan-US-ROK Summit

If the political relations between Japan and South Korea remain tense, not only the neighboring countries but also the whole Asia will risk future development and prosperity. It is necessary to improve the Japan-ROK bilateral relations and fasten its ties through the summit meeting where the leaders of the two nations will have a dialogue for the first time. It is a step forward in the right direction. It should be followed by further efforts of the government and the private sector.

Impact of the Consumption Tax Hike

The government has revised up Japan's GDP growth forecast for the April-June period slightly expecting the effect of its unveiled stimulus package. The Japanese economy will be sustained by the 5-trillion yen "economic measures for the realization of a positive cycle of the economy" as well as a tax reduction of about 1 trillion yen. If a growth strategy which will take shape in June, and the new fiscal year's budget are effectively carried out, there will be no worry about impact of the upcoming consumption tax hike on the economy.

Executives' Comments