Chairman Okuda's Press Conference

January 5, 2006

Following is the gist of remarks made by Mr. Hiroshi Okuda, Chairman, Nippon Keidanren, at a press conference after annually-scheduled New Year party hosted by three major economic organizations on 5 January 2006. Translatiカジノ シークレット 出 金 方法s rush and tentative, and sequence of the gist does not necessarily coincide with words delivered.

(On forecasting Japanese economy in 2006)

Roughly 2% economic growth is expected. Possible negative factors include crude oil price, prices and カジノ シークレット 出 金 方法erm increasing demand for natural resources, and the state of China's and U. S's economies.

(On possible changカジノ シークレット 出 金 方法n Bank of Japan's monetary policy and its effects)

Bank of Japan should consult the government in making its decisions. I foresee no immediate raisカジノ シークレット 出 金 方法n long term interest ratカジノ シークレット 出 金 方法f the Bank might alter its course.

(カジノ シークレット 出 金 方法ncrease in Consumption Tax)

Keidanren's positiカジノ シークレット 出 金 方法s to increase the Tax to 10% by 2007, and 1% every year afterward, but its feasibility must be studied further on when and how. It must also be necessary for the government to do its utmost to cut its spending before the hike.

(On spring labor negotiations)

There are no meanings in setting an industry-wide goal for pay raise -- each company should decide カジノ シークレット 出 金 方法ts own by considering performance.

(On Koizumi's successor)

Whoever it would be, Koizumi's reform efforts should be continued and expanded. Restructuring the country's economy takes カジノ シークレット 出 金 方法ime, and there are other agenda which needs to be achieved.

(On recent corporate scandals)

It is regrettable that scandals keep occurring. I shall continue asking Keidanren member companies to do everything to avoid recurrence.

(On Japan-China relationship)

Some say that political tension deters economic relationship, but it is not foreseen. However, long term political tension could bring seriousness. As a man of business, I wish that businesses could ease tensiカジノ シークレット 出 金 方法n other areas by strengthening bilateral business relationship.


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