Remarks at the Start of 2011

Koichiro Nishihara President, IMF-JC A Year of Challenges in a Wide Range of Action Areas Efforts toward creating an industry, companies, and a society that allow job and life satisfaction to improve 　　To start this New Year, let me begin by wishing all of you a fruitful and prosperous 2011.

Toward Maintaining and Strengthening the Domestic Manufacturing Base and Protecting Jobs 　Due to the global financial crisis and worldwide economic downturn in autumn 2008, we witnessed a large adjustment in production levels spurred by the decrease in domestic and foreign demand. Backed by the arduous efforts and the cooperation of union members, we are steadily emerging from the temporary state of crisis, led by a succession of economic measures by the government and exports improved by the recovery of economies worldwide, particularly in emerging nations. However, in recent months risks have become more apparent in every country and region, not only with Japan's economy and its persistent deflation but also in other economies throughout the world. The lack of clarity and certainty for the future environment of the metal industry continues to increase. 　 Therefore, this year will also be one of many challenges in a wide range of action areas for us at the IMF. In particular, we will move forward with efforts on policies and systems to eliminate to the fullest extent the factors - including the yen appreciation that does not nearly reflect actual economic conditions and the delays in signing free trade agreements (FTAs) and economic partnership agreements (EPAs) - that impede not only sound growth of the metal industry and its companies, but also our efforts to maintain and strengthen the domestic manufacturing base and protect jobs. Pursuing Fair and Appropriate Allocation of Profits to Working People 　In accordance, with the premise of maintaining and creating jobs, and from the standpoint of pursuing the fair and appropriate allocation of profits to working people, we will engage in various programs, foremost being the 2011 Spring Offensive, with the goals of improved working conditions and job satisfaction worthy of Japan’s core industry, and of a positive cycle of sound growth for the industry and its companies. Everything Starts with a Positive Outlook and Persistence in our Efforts 　The IMF-JC will make the utmost efforts toward the creation of an industry, companies and a society in which fairness and diversity of values are truly prioritized and job and life satisfaction can improve for every working individual. Everything starts with a positive outlook and persistence in our efforts. I ask for your continued cooperation with the IMF-JC and wish you all the best in the New Year.