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Chairman Okuda's Press Conference

May 10, 2004

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 thカジノシークレット キャッシュバックost of Chairman and Vice Chairmen of the Board of Councilors pending approval at Keidanren's annual meeting on May 27.

Chairman
Yoichi MORISHITA
Chairman of the Board
Matsushita Electric Industrial Co., Ltd.
Vice Chairmen (* denotes newly appointed Vice Chairmen)
Toshifumi SUZUKI
Chairman & Chief Executive Officer
Ito-Yokado Co., Ltd.
Keiichiro TAKAHARA
Founder, Chairman & CEO
Unicharm Corporation
Takahide SAKURAI
Chairman of the Board
カジノシークレット キャッシュバックai-ichi Mutual Life Insurance Company
Osamu HIRASHIMA
Chairman of the Board
Taisei Corporation
Mototsugu ITO
President and Chief Executive Officer
Ishikawajima-Harima Heavy Industries Co., Ltd.
Morio IKEDA
President & CEO
Shiseido Company, Ltd.
Yoshihiko MIYAUCHI *
Chairman and CEO
ORIX Corporation
Fumiaki WATARI *
President and Chief Executive Officer
Nippon Oil Corporation
Ichiro TANIGUCHI *
Chairman
Mitsubishi Electric Corporation
Kunio EGASHIRA *
President
Ajinomoto Co., Inc.
Hiromichi IWASA *
President and Chief Executive Officer
Mitsui Fudosan Co., Ltd.

(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 thカジノシークレット キャッシュバックost 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.

(カジノシークレット キャッシュバックolitical turmoil caused by unpaid pensiカジノシークレット キャッシュバックremium)
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 pensiカジノシークレット キャッシュバックremium problem among the Diet members could have been avoided if a warning system existed. Keidanren has been calling for a comprehensive systemic reform カジノシークレット キャッシュバックension, 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 pensiカジノシークレット キャッシュバックremium, 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 カジノシークレット キャッシュバックublic order -- this is exactly what is stated in Keidanren's positiカジノシークレット キャッシュバックaper issued in April.


Homカジノシークレット キャッシュバックage in English