Following is the gist of remarks made by Mr. Hiroshi Okuda, Chairman of Nippon Keidanren, at a regularly scheduled press conference 22 July 2002. Translation is rush and tentative, and sequence of the gist does not necessarily coincide with words delivered.
(Asked of his views over the next decade of the Japanese economy)
Japanese economy's growth would be slow for the next decade even if Prime Minister Koizumi's reforms will be achieved by the year 2006. To improve the Japanese economy at earlier date, it is essential to completely overhaul business climate in Japan so that talented Japanese wouldn't have to leave Japan and talented non-Japanese would wish to gather here. The current yen-dollar level is still ok for Japanese exporters, but no one shall expect windfall profits of low Japanese yen such as 130 or 135 yen to a dollar.
(Asked of his views on fiscal 2003 budget)
Prime Minister Koizumi keeps saying that fiscal 2003 budget will be assembled in a flexible and forthcoming way. I have never heard him saying putting similar or more stringent cap than fiscal 2001 or 2002. However, I don't know how much he wants to use, to prop up the Japanese economy. For example, there are varieties of arguments on tax reform proposals -- I can't comment on the whole picture unless all basic factors will be laid out. Of course, Nippon Keidanren has been calling for cutting taxes before raising them.
(Asked of his views on raising employment insurance premium)
Raising the premium by 0.2% has been laid out so I have no objectives. However, the government must overhaul the entire social security scheme before raising the premium further.
(Asked of his views over the current stage of Prime Minister Koizumi's reform agenda)
He has laid out all the necessary reform agenda. At this moment, only 15% of his reform agenda are achieved -- I think that the government should achieve 70% to 80% by the end of 2006.