Following is the gist of remarks made by Hiroshi Okuda, Chairman, Keidanren at a scheduled press conference following monthly Chairman and Vice Chairmen's meeting on 10 May 2004. Translation is rush and tentative, and sequence of the gist does not necessarily coincide with words delivered.
(Announcement of Chairman and Vice Chairmen of the Board of Councilors)
Following persons assume the post of Chairman and Vice Chairmen of the Board of Councilors pending approval at Keidanren's annual meeting on May 27.
(On disciplinary measures towards Mitsubishi Motors Corporation)
Mitsubishi Motors Corporation informed Keidanren today that for the time being it wishes to abstain from membership activities and withhold from the post of a member of the Board of Directors as well as the Board of Executive Directors. It was decided today per Article 13 of Nippon Keidanren's Constitution that Mitsubishi Motors Corporation's request is met.
(On political turmoil caused by unpaid pension premium)
Unity of the Democratic Party will be weakened if Mr. Kan, President of the Democratic Party of Japan, will decide to step down so the Party must try to strengthen solidarity. Unpaid pension premium problem among the Diet members could have been avoided if a warning system existed. Keidanren has been calling for a comprehensive systemic reform on pension, long-term care insurance, and medical insurance as a welfare package, and it wants to see a thorough reform in next three years, including tax reform to support the welfare system, even if current pension bill would be passed in the current Diet session.
(On the state of Japan's economy, stock prices, and foreign exchanges)
The level of stock market and foreign exchange market must be looked at from a long time range. I see today's drop in the stock market as profit-taking facing possible hike in the U. S. interest rate, inflated crude oil prices and its affect on Japan's and U. S. economy, political turmoil in Japan caused by unpaid pension premium, and the U. S. political liquidity caused by Iraq affairs. However, in the long run, Japan's economy is on recovery, and today's drop in Japan's stock prices wouldn't affect it so much.
(On accepting foreign workers in Japan)
Keidanren claims that accepting foreign workers should be dealt with only after taking enough measures on illegal foreigners and on public order -- this is exactly what is stated in Keidanren's position paper issued in April.