Latest news with #Tsutsui
NHK
24-07-2025
- Business
- NHK
Keidanren head commends Japan-US trade deal
The head of Japan's leading business lobby has lauded the country's trade agreement with the United States. But he also sounded alarm over the current state of the global economy. Tsutsui Yoshinobu became the new chairman of the Japan Business Federation, or Keidanren, in late May. He spoke at the beginning of the organization's summer forum in the resort town of Karuizawa in central Japan on Thursday. Tsutsui said that he highly evaluated the terms of the bilateral deal. But he added it came at a time when the world is at a major turning point, with the free and open international economic order shaking. Tsutsui noted that Japan is facing a mountain of complex domestic challenges, including a shrinking population caused by a low birthrate and an aging society. He said another challenge involves policies on resources and energy. He said that what counts is to pave the way for Japan to turn into a nation that will be trusted by the international community. Tsutsui added that Keidanren members will share the resolve that companies will clear the path for the future. He said that his organization will demonstrate this determination. About 40 senior corporate officials are taking part in this year's forum. It is being held under the theme of a vision to allow the Japanese economy to grow even with the declining population. The agenda includes discussions on topics, such as how to facilitate innovation to realize a "science and technology nation." The participants are expected to compile a document on Friday that will sum up their talks.
Yomiuri Shimbun
23-07-2025
- Automotive
- Yomiuri Shimbun
Japan Business Group Chair Welcomes Outcome of Tariff Talks, But Also Say 15% Reciprocal Tariff ‘By No Means Low'
Yoshinobu Tsutsui, the chairperson of Keidanren (Japan Business Federation), on Wednesday praised the outcome of Japan-U.S. tariff negotiations as the result of long-running, persistent talks focused on national interests. 'The parties concerned made earnest efforts within the framework of the negotiations and achieved a successful outcome,' Tsutsui told reporters. Tsutsui said he was greatly concerned about automobile tariffs, as they will have a significant impact on the broad-based automobile industry, including related businesses. 'But I want to praise the reduction in the tariffs as a positive outcome of the talks,' he said. At the same time, however, Tsutsui said a 'reciprocal tariff' of 15% is 'by no means low, considering the domestic economy.'
Japan Today
21-07-2025
- Business
- Japan Today
Japan businesses call for stable politics after LDP's election defeat
Business leaders on Monday called for political stability to keep the Japanese economy on a sustainable growth path, after the ruling parties lost their majority in the House of Councillors following the weekend election. "We face a slew of structural issues that need to be tackled from a medium- to long-term perspective," Yoshinobu Tsutsui, head of Japan's biggest business lobby Keidanren, said, citing measures to address elevated prices, tax reforms to fund soaring social security costs and promotion of a free and open international economic order. "We strongly hope for a stable political environment," centering on the ruling coalition of the Liberal Democratic Party and its junior coalition partner Komeito, added Tsutsui of the Japan Business Federation. The upper house election defeat for the ruling parties followed their setback in last October's election for the more powerful House of Representatives, raising the specter of policy gridlock if they fail to secure cooperation from opposition forces. Takeshi Niinami, chairman of the Japan Association of Corporate Executives, called the ruling coalition's setback "a sign of growing public anxiety over the government's handling of state affairs." During the election campaign period, the LDP sought to woo voters with pledges to distribute cash handouts to ease the pain of the cost-of-living struggles, while opposition parties called for tax cuts. Niinami said the oppositions parties that made significant gains in the election should "present more concrete and feasible policies and responsibly fulfil the expectations of the public." Meanwhile, Ken Kobayashi, chairman of the Japan Chamber of Commerce and Industry, warned that the political situation will become "fluid" following the upper house election. But he noted, "We cannot expect sustainable economic growth without political stability." Regardless of any change in ruling coalition structure, it should be one that gains confidence from inside and outside the country, he said. Masanori Katayama, chairman of the Japan Automobile Manufacturers Association, expressed that the ruling and opposition parties join hands to "move various policies forward quickly toward solving difficult tasks in and outside the country." The upper house election, which is held every three years, came at a critical time for Japan as it proceeds with negotiations with the United States on tariffs, with the deadline for President Donald Trump's so-called reciprocal levies looming on Aug. 1. Among the tariff measures already implemented by Trump, a 25 percent levy on U.S.-bound cars is seen as a heavy blow to Japan's economy, in which the auto sector is a major driver of growth. © KYODO
Asahi Shimbun
29-06-2025
- Business
- Asahi Shimbun
New Keidanren chairman shows that nice guys can finish first
Yoshinobu Tsutsui in Tokyo's Chiyoda Ward on May 1 (Photo by Kotaro Ebara) Yoshinobu Tsutsui's humble beginnings and the social norms he learned during childhood helped to propel him to the top of Keidanren (Japan Business Federation), the most powerful business lobby in the country. The 71-year-old on May 29 became the first Keidanren chairman from a financial institution. Tsutsui took over as president of Nippon Life Insurance Co. in April 2011, three weeks after the Great East Japan Earthquake and tsunami disaster. He immediately set a policy of quickly paying insurance money to victims, thereby setting an overall direction for the insurance industry. 'Whatever headwind we may face, we must fulfill our corporate mission of protecting our customers and supporting people's livelihoods,' he said in an address to employees at the time. Tsutsui grew up in a plebeian neighborhood along the Hanshin Electric Railway Co. line in Kobe. He was the youngest of five brothers under a factory worker father and a full-time homemaker mother. 'I wore hand-me-downs,' Tsutsui said. 'Food was supposed to be divided equally, but it was, in fact, allocated with more weight to my older brothers.' He said there was a solemn sense of hierarchy in his family. 'I acquired this habit of studying the faces of my older brothers and carefully assessing the mood at all times,' Tsutsui said. His mother would take him to a nearby street day after day to go shopping. He would listen to the casual conversations that she exchanged with storekeepers. 'Those days nurtured my social sensibilities,' Tsutsui said. Masakazu Tokura, Tsutsui's predecessor as Keidanren chairman, also attached importance to keeping tabs on social issues, such as widening disparities and collapsing ecosystems. Tokura said he named Tsutsui as his successor based largely on his 'social' viewpoint. 'Tsutsui begins by listening to the accounts of others and respects their decisions, no matter how much younger they are,' a former subordinate of Tsutsui said. 'He is consistent in that stance.' Tsutsui also believes that 'a company embodies people.' 'It sums up the behaviors of individuals,' he said. 'People matter more than anything else. And they become big powers only through cohesion.'
Yomiuri Shimbun
02-06-2025
- Business
- Yomiuri Shimbun
Keidanren Under New Tsutsui Leadership: Strong Ability to Communicate Needed to Overcome Difficult Situation
The tariff policies of U.S. President Donald Trump are shaking the world, causing major changes to the global economic order. As a leader in the business community, Keidanren (Japan Business Federation) must convey its messages strongly to overcome this difficult situation. Yoshinobu Tsutsui, former chairman of Nippon Life Insurance Co., has taken office as the 16th chairman of Keidanren. This is the first time for a figure from a financial institution to assume the post, whose past holders have mainly been people from the manufacturing industry. Nippon Life Insurance is a leading institutional investor with in-depth knowledge of the management of a wide range of companies. To break out of the long period of stagnation known as the 'lost 30 years,' Keidanren under Tsutsui must take the lead in discussions on the state of government economic policies and corporate management. The first test will be how to maintain the trend of wage increases. In an effort to achieve a growth-oriented economy in which both wages and investment increase, historically high wage increases have continued at major companies for three consecutive years, including this year's shunto spring wage negotiations. However, amid growing uncertainty over the future due to the U.S. high tariff policy, the momentum for wage hikes at small and midsize companies is weakening, and dark clouds are looming over major companies' shunto negotiations next year. 'Extremely powerful momentum for wage increases has been established. The most important task now is to further cement this trend,' Tsutsui said. He must take the lead in the wage hike movement and make it spread throughout Keidanren's member companies. The internal reserves of Japanese companies have risen to about ¥600 trillion, which should provide sufficient capacity for investment and wage increases. It is the responsibility of member companies to continue investing aggressively and raising wages even in the face of headwinds. Stabilizing the social security system and dispelling future concerns are important tasks even for corporate management. Tsutsui has stated that 'it is not appropriate to reduce consumption tax,' as it is a fundamental source of revenue supporting the social security system. This is a valid point. Close attention must be paid to changes in the global economic order. The United States will likely maintain its protectionist stance for some time. The free trade system centered on the United States is wavering, and the foundation of Japan's economic growth is being shaken. Tsutsui has announced a plan to establish a Global South committee within Keidanren and strengthen ties with emerging and developing countries. It is important to deepen relations with India and the Association of Southeast Asian Nations. It is necessary to devise a strategy to reduce dependence on the United States, expand sales channels to other countries and regions and continue economic growth. Toyota Motor Corp. President Koji Sato is among the four people to newly assume a vice chair post. It has been a long time since a Toyota president has held that job. It is hoped that he will bring new energy to Keidanren by leveraging his experience as the head of Japan's largest manufacturing company. (From The Yomiuri Shimbun, June 2, 2025)
