Keidanren Names Nippon Life Chairman Tsutsui as Chairman

Tokyo, Jan. 14 (Jiji Press)--The Japan Business Federation, or Keidanren, informally appointed Nippon Life Insurance Co. Chairman Yoshinobu Tsutsui as its next chairman on Tuesday to succeed Masakazu Tokura.

Tsutsui, 70, will be the first person from the financial industry to head the largest business lobby in Japan, which is usually led by an executive from the manufacturing sector.

He will take the helm at Keidanren at a general meeting on May 29 for a four-year term.

"I fully feel the significance of the missions and responsibilities" as Keidanren chairman, Tsutsui, currently vice chair at the organization, said at a press conference.

"I will do my best to ensure the Japanese economy's sustainable growth through a virtuous cycle of growth and distribution," he said.

[Copyright The Jiji Press, Ltd.]