It is my great pleasure to have this opportunity to address such a distinguished gathering of business leaders in the Chubu region today. I would like to express my sincere gratitude to you for your cooperation with our Nagoya branch. The greatest challenge facing Japan's economy is overcoming deflation that has lasted for nearly 15 years. Amid protracted deflation, corporate profits and wages have been compressed, the spending of firms and households has declined accordingly, and Japan's economy has become oriented toward contraction. Under deflation, as the real value of cash rises with a decline in the prices of ... (full story)