Masakazu Tokura, the next chairman of Keidanren (Japan Business Federation), speaks at a May 10 news conference. (Tatsuya Shimada)
Masakazu Tokura will take over as chairman of the powerful Keidanren (Japan Business Federation) from June 1 and work toward establishing a “sustainable capitalism.
Tokura, 70, the chairman of Sumitomo Chemical Co., was handpicked as Keidanren chairman by his predecessor, Hiroaki Nakanishi, who is stepping down due to health reasons.
After graduating from the University of Tokyo Economics Faculty, Tokura joined Sumitomo Chemical in 1974, when environmental pollution was a major issue and the Japanese economy was also reeling from the first oil shock.
But Tokura, who served as Sumitomo Chemical president for eight years from 2011, also believed that the “power of chemicals” was needed to resolve issues.