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Chairman Okuda's Press Conference

October 12, 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 12 October 2004. Translation is rush and tentative, and sequence of the gist does not necessarily coincide with words delivered.

(On rise of crude oil prices and possible effects on Japan's economy)
Risカジノ シークレット 勝て ないn the oil price hasn't caused extensive damage on the Japanese economy until now, but it might be otherwisカジノ シークレット 勝て ないf this trend would continue. How long the current trend would prolong is uncertain. Until now the slow down of Chinese and the U. S. economy has been limited and they are not likely to cause problems in near future either.

(On proposed revision of Anti Monopoly Act)
Keidanren is not satisfied by the agreement by the LDP Committee on proposed revision of the Anti Monopoly Act, including the rise of surcharge from current 6% to 10%. At the same time, there are needs to alter other parts of the current JFTC schemカジノ シークレット 勝て ないncluding bringing in legal expertise and separating the rolカジノ シークレット 勝て ないn both prosecutor and judgカジノ シークレット 勝て ないn its making decisions.

(カジノ シークレット 勝て ないhe government tax panel's discussiカジノ シークレット 勝て ないo shrink or abolish income tax cuts)
Public would suffer increasカジノ シークレット 勝て ないn income taxes, causing further declinカジノ シークレット 勝て ないn disposablカジノ シークレット 勝て ないncomカジノ シークレット 勝て ないf income tax cuts will be shrunk or abolished, possibly causing negative effects on the Japan's economy. The government is expected to alleviate negativカジノ シークレット 勝て ないmpacts on middle-income class households if it carries out the revision.

(On Daiei's debt problems)
Daiei and related parties should discuss thカジノ シークレット 勝て ないssue thoroughly in arriving at a solution that is acceptable to all concerned promptly.

(On prosecutors raiding over improper practice of UFJ)
Having such an important company to conduct improper actions is very much regrettable. Keidanren might consider disciplinary measures after learning more fact in days to come.

(On Keidanren's position on arms export ban)
It has been mistaken, but Keidanren's stance on this is to makカジノ シークレット 勝て ないt possible for Japan to further promote technology development in its defensカジノ シークレット 勝て ないndustry that will in turn promote civil use technology, reflecting global trend. Keidanren honors Japan's peaceful contribution to the globe and it has proposed changes in the scheme within this limitation.

(On increasing likeliness of Kyoto Protocol ratified into a real treaty)
I do believe that Japan could keep the promise based on Kyoto Protocol, though technology development and radical changes in the people's lifestyle are necessary.


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