A131 In his inaugural address, Mr. Mitarai said he would like to build Japan into an attractive country in which hope flourishes, with all people having an equal opportunity and any number of chances to succeed, based on sustainable, steady economic growth.

He advocated the creation oflnnovate Japan, and insisted that to bring about this movement, various innovations were necessary in industry, the economy and the social system. He suggested that Japan should aim to become a nation supported by new industries, saying that for Japan to remain a major economic player, it needs to have a competitive edge and must shift its focus to high-value-added industries.

To The role of Japan's business organizations

These thoughts were expressed against a background of his experience as president of Canon, which had fallen into a slump as a result of over-diversification. He rebuilt the organization into an excellent international blue-chip company through the power of technology and a strategy of which he is very proud, namely, selection and concentration.