Candidate for the Next Keidanren Chairman

I made a decision to appoint Mr. Sadayuki Sakakibara, Chairman of Toray Industries Inc. as my successor today.

Business is picking up in the country thanks to the Abenomics, but it is early to say that we have overcome deflation and revitalized the economy. It is necessary for us to speed the growth strategy and make a positive cycle of the economy happen without fail to bring back our nation's strength. Keidanren, the growth engine of Japan needs to lead the economy and create new promising industries as well as employment with its state of the art technology and cutting edge human resources. We also need to encourage the government and parties concerned with strong public support to bring our policy proposals on domestic and global business issues to fruition.

Mr. Sakakibara is a man of character with superb management skills and abundant experience in the business community, a leader of extraordinary insight who has science, technology and innovation in great account. He is the right person to carry out the functions of Keidanren chairman.

Mr. Sakakibara will be officially nominated at the May 7 board of directors meeting and then assume office at the June 3 general assembly meeting.