THE JAPAN NEWS



 

Masakazu Tokura, who will take over as chairman of Keidanren (Japan Business Federation), will be watched for how he can demonstrate leadership on key issues facing the federation, such as balancing measures against the novel coronavirus with economic recovery and consolidating the opinions of industry circles to realize a decarbonized society.


■ Sustainability

In a press conference on Monday, Tokura, who served as vice chairman and vice chairman of the council under Chairman Hiroaki Nakanishi, stressed, “I will firmly follow the [Nakanishi] policy.”

Nakanishi, who took office as Keidanren chairman in 2018, has called for the need for sustainable capitalism, in which companies focus on economic and social sustainability as well as shareholder profits. This is because the business community is not immune to urgent global issues such as climate change and wealth disparity.

In November last year, Keidanren launched The New Growth Strategy, which focuses on the “realization of green growth” and “transformation of work styles.” Tokura stressed that the Keidanren aims to be supported by society as a whole.


■ Increasing corporate role

Due to the novel coronavirus crisis, Keidanren has called on the government to undertake the largest economic support measures ever, and has also drawn up guidelines for the reopening of factories and stores.

In April, when vaccinations for the elderly began, the federation asked the government to consider the introduction of digital certificates to show vaccination records, a practice that is spreading in Europe, the United States and other countries. Thus, Keidanren is becoming more and more actively involved in government policies.

Keidanren’s roles, such as the promotion of the transformation of work styles, are increasing with the spread of new lifestyles since the coronavirus crisis hit. There has also been a shift to year-round hiring and “job-based” regular employees that emphasize ability and performance. Keidanren is also expected to strengthen its initiatives related to employment and recruitment.

At the press conference, Tokura pointed out that the post-coronavirus era will require new ideas and bold policies. As a flag-bearer for the promotion of digital technologies such as artificial intelligence and big data, the federation will also be tasked with raising the level of industry circles.

However, Tokura’s skills are still unknown.

Sumitomo Chemical Co., where he serves as chairman, is a manufacturer of chemical products, which are derived from petroleum. The chemical industry also emits a large amount of carbon dioxide.

At present, if decarbonization progresses, it could have a negative impact on Sumitomo Chemical’s business profile. However, the company needs to take the initiative in realizing a decarbonized society.

As the top management of a materials manufacturer, Tokura will be also challenged as to the extent he can exert his influence on digital-related policies, which is not his core business.