TOKYO -- The Japan Business Federation's selection of its first chairman from the finance sector reflects a shift in Japan's industrial base, and the group's priorities, away from their traditional focus on manufacturing.
The powerful business lobby, also known as Keidanren, is set to formally confirm the appointment of Nippon Life Insurance Chairman Yoshinobu Tsutsui on Tuesday. He will officially succeed current Chairman Masakazu Tokura, who is also the chairman of Sumitomo Chemical, at the group's annual general meeting on May 29.
