ID :
124670
Fri, 05/28/2010 - 09:43
Auther :
Shortlink :
https://www.oananews.org//node/124670
The shortlink copeid
New Keidanren chief Yonekura hopes for gradual increase in sales tax+
TOKYO, May 27 Kyodo -
Hiromasa Yonekura, new chairman of the Japan Business Federation, said Thursday
that the consumption tax should be raised gradually to rebuild Japan's
finances, and expressed his desire to get the nation's stagnant economy back on
a growth path.
Yonekura, 73, chairman of Sumitomo Chemical Co., took up the No. 1 post of
Japan's most influential business lobby, known as Nippon Keidanren, at a
general meeting in Tokyo, succeeding 74-year-old Fujio Mitarai.
At a press conference after the meeting, Yonekura also indicated that he thinks
it would not be acceptable for Japan to intervene in the currency market to
stop the yen from rising further to save export-oriented Japanese companies
from being damaged from possible earnings erosions.
He said Japanese companies should beef up their international competitiveness
when currency moves are unfavorable for them, while adding that he certainly
hopes that the Japanese currency will not appreciate sharply.
Reiterating his predecessor's policy, Yonekura also said the federation will
not be involved in political donations. Mitarai said in March that the lobby
would end the meddling of its member companies in corporate donations to
political parties.
But Keidanren will continue to devise policy proposals for the government and
hold dialogues with it, he said.
On the consumption tax, Yonekura said it should be raised gradually -- about 1
percent per year -- from the current 5 percent level to cover the costs of
social welfare, which are expected to shoot up amid the graying of society, and
restore the nation's fiscal health.
But the new chairman also warned against any steep increase in the tax, as it
could hamper potential economic growth.
Yonekura said he hopes the organization can contribute to pulling Japan out of
the ''long tunnel'' of recession as quickly as possible, by formulating its own
growth strategies separate from those the government is set to compile next
month.
Yonekura raised questions about the feasibility of Prime Minister Yukio
Hatoyama's pledge to reduce greenhouse gas emissions by 25 percent by 2020 from
1990 levels, saying it is not backed up by a detailed assessment of the impact
on businesses and people's lives.
He served as vice chairman of Keidanren from 2004 to 2008, and was the chairman
of its Board of Councillors, the No. 2 post in the group, before taking up the
current post.
==Kyodo
Hiromasa Yonekura, new chairman of the Japan Business Federation, said Thursday
that the consumption tax should be raised gradually to rebuild Japan's
finances, and expressed his desire to get the nation's stagnant economy back on
a growth path.
Yonekura, 73, chairman of Sumitomo Chemical Co., took up the No. 1 post of
Japan's most influential business lobby, known as Nippon Keidanren, at a
general meeting in Tokyo, succeeding 74-year-old Fujio Mitarai.
At a press conference after the meeting, Yonekura also indicated that he thinks
it would not be acceptable for Japan to intervene in the currency market to
stop the yen from rising further to save export-oriented Japanese companies
from being damaged from possible earnings erosions.
He said Japanese companies should beef up their international competitiveness
when currency moves are unfavorable for them, while adding that he certainly
hopes that the Japanese currency will not appreciate sharply.
Reiterating his predecessor's policy, Yonekura also said the federation will
not be involved in political donations. Mitarai said in March that the lobby
would end the meddling of its member companies in corporate donations to
political parties.
But Keidanren will continue to devise policy proposals for the government and
hold dialogues with it, he said.
On the consumption tax, Yonekura said it should be raised gradually -- about 1
percent per year -- from the current 5 percent level to cover the costs of
social welfare, which are expected to shoot up amid the graying of society, and
restore the nation's fiscal health.
But the new chairman also warned against any steep increase in the tax, as it
could hamper potential economic growth.
Yonekura said he hopes the organization can contribute to pulling Japan out of
the ''long tunnel'' of recession as quickly as possible, by formulating its own
growth strategies separate from those the government is set to compile next
month.
Yonekura raised questions about the feasibility of Prime Minister Yukio
Hatoyama's pledge to reduce greenhouse gas emissions by 25 percent by 2020 from
1990 levels, saying it is not backed up by a detailed assessment of the impact
on businesses and people's lives.
He served as vice chairman of Keidanren from 2004 to 2008, and was the chairman
of its Board of Councillors, the No. 2 post in the group, before taking up the
current post.
==Kyodo
