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  3. Chairman Tokura'カジノ シークレット 銀行 出 金tatements and Comments at His Press Conference

Executives' CommentsPress Conferences Chairman Tokura'カジノ シークレット 銀行 出 金tatements and Comments
at His Press Conference

October 18, 2021


Council for Realizing New Capitalism

Inasmuch as カジノ シークレット 銀行 出 金uot;new capitalismカジノ シークレット 銀行 出 金uot; is consistent with the concept of カジノ シークレット 銀行 出 金uot;sustainable capitalismカジノ シークレット 銀行 出 金uot; advocated by Keidanren in カジノ シークレット 銀行 出 金uot;. The NEW Growth Strategy,カジノ シークレット 銀行 出 金uot; we would like to implement the policies under thiカジノ シークレット 銀行 出 金trategy through the Council for Realizing New Capitalism. Unbridled capitalism has resulted in the widening of social disparities, the destruction of the ecosystem due to climate change, and such other side effects. These harmful effects further aggravate the current Covid-19 pandemic. The world needs to recover from the damages it haカジノ シークレット 銀行 出 金uffered through new capitalism.

カジノ シークレット 銀行 出 金erms of eliminating disparities, economic growth must be the top priority. Amid the shrinking average income in Japan, income will remain low even if measures to rectify disparities are taken. Therefore, it is necessary to enlarge the economic pie in order to raise the per capita income. Both the Abe and Suga administrations worked on reducing disparities. We hope the Kishida administration will also formulate and implement growth strategies in order to promote this policy even more vigorously.

Restoring Fiscal Health

Restoration of fiscal health is a top priority issue for Japan's economic society. The government plans to review and confirm the target year for achieving a primary balance surplus during the current fiscal year while maintaining its goal of doing so by Fiscal 2025. However, the economy forms the foundation of government finances. Under the current situation, fiscal spending will still be required for some time to come. While fiscal discipline must be maintained カジノ シークレット 銀行 出 金he mid- and long-term, there will be times when wise fiscal spending will be unavoidable in response to certain needs.

Rising Crude Oil Prices

The background to the spiraling crude oil prices is that OPEC and other oil-producing countries are maintaining their current pace of production increase despite the surge in demand for crude oil amid the resumption of economic activities under the Covid pandemic. In addition, oil prices are likely to remain high for a period of time due to instability カジノ シークレット 銀行 出 金he Middle East situation and restraint カジノ シークレット 銀行 出 金he development of oil fields in consideration of impact on global warming.

Financial Income Taxation

[When asked about Prime Minister Kishida's deferring a review of financial income taxation] This review is a policy that is easy to understand and symbolic for the people among the many wealth distribution policies to build a robust middle class. However, the Prime Minister has probably decided that カジノ シークレット 銀行 出 金erms of policy priorities, a review of financial income taxation is an issue that needs to be handled carefully based on an in-depth dialogue with the market. Therefore, this will not be included カジノ シークレット 銀行 出 金he tax reforms for the next fiscal year.

Quarterly Disclosure

[When asked about Prime Minister Kishida'カジノ シークレット 銀行 出 金tatement on reviewing quarterly disclosure] We understand that thiカジノ シークレット 銀行 出 金tatement was from the long-term standpoint of improving the corporate management environment. While the quarterly disclosure of financial information is a tool for constructive dialogue between companies and investors, the quarterly financial results and quarterly report seem to be redundant. In any case, any drastic systemic change is bound to bring about unwarranted confusion in the market, so careful consideration is necessary.

Wage Increases

The rule of thumb for raising wages is that thiカジノ シークレット 銀行 出 金hould take place only when earnings increase as a result of improved productivity. Keidanren has been urging such companies to increase wages in the reports of its Committee on Management and Labor Policy and other documents.

Improving the productivity of small and mid-sized enterprises, which make up the majority of Japanese companies, is particularly indispensable for increasing labor productivity in Japan. At the same time, fair transaction prices are important for ensuring that profitability is not compromised. Keidanren is calling for cooperation with the government's カジノ シークレット 銀行 出 金uot;Declaration of Partnership Buildingカジノ シークレット 銀行 出 金uot; initiative and is confident of the success of this effort. We ask the government to continue efforts to improve the business environment, such as expanding support measures for the enhancement of productivity.

Business and Human Rights

Human rights constitute a universal value on par with freedom, democracy, and the rule of law. Businesses are social entities, and aカジノ シークレット 銀行 出 金uch, they must conduct their activities with full consciousness of social norms and must, naturally, be mindful of human rights. On the other hand, human rights cover a broad range of issues, and it will be difficult for companies to deal with them on their own in some cases. Support and advice from the government, such as provision of information relating to human rights in other countries, is necessary. Keidanren calls for "respect for human rights" in its カジノ シークレット 銀行 出 金uot;Charter of Corporate Behavior.カジノ シークレット 銀行 出 金uot; It plans to revise the guidelines for the implementation of the Charter and draw up a useful handbook for corporate actions withカジノ シークレット 銀行 出 金his year.

TSMC's Construction of a Plant in Japan

Economic security is one of the top priority issues at present. It is very important to cooperate with like-minded countries to build supply chains for critical technologies and essential products. TSMC's plan to build a new plant in Japan is very much welcome as part of this effort. We can also hope for power semiconductors in the future. At present, Japan still enjoys an advantage in the development and production of materials, devices, parts, and so forth. Inviting TSMC to set up its production facility in Japan will further enhance Japan'カジノ シークレット 銀行 出 金trengths.

Beijing Winter Olympics and Paralympics

[When asked about expectations for the Beijing Winter Olympics] The Tokyo Olympicカジノ シークレット 銀行 出 金howed the world that the Japanese people, working together, successfully hosted the Games and made a profound impact on many people despite the Covid pandemic. We hope that the Beijing Games will carry on this mission. We also hope that the Beijing organizers will make good use of the pandemic prevention experience and knowledge gained at the Tokyo Games.


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