Kankeiren Chairman Matsumoto announces his intention to continue for a sixth term; finding a successor is urgent after 10 years in office

On the 6th, Masayoshi Matsumoto (82), Chairman of Sumitomo Electric Industries, of the Kansai Economic Federation, an economic organization formed by major Kansai companies, announced on the 6th that he will continue for a sixth term, ahead of the expiration of his term in May 2027, 10 years after his fifth term. Over the past 30 years, the chairman has changed hands every two to eight years, making the selection of a successor an urgent task.

Speaking to reporters in Osaka on the 6th, Matsumoto announced that he would continue in the role, saying, ``If the 17 vice presidents want me to do it one more time, I have no choice but to do it.'' At a meeting of the president and vice presidents held just before that, the vice presidents asked him to continue in his role, which he accepted.

When asked about the prospect of his term lasting more than 10 years, he answered, ``Fortunately, both mentally and physically, I believe I can handle at least one more term.''

The official decision will be made in May 2027, and the term of office will be two years. In the 6th term, efforts will be made to build up new industries and attract tourists as a legacy of the 25-year Osaka-Kansai Expo, to start early construction of the Hokuriku Shinkansen to Osaka, and to realize decentralization and the Doshu system. "The only thing we can do is crack the old man with a whip. He's just working, working, working, working like someone else."

Mr. Matsumoto became chairman in May 2017. Kankeiren was established the year after the end of the war, and celebrated its 80th anniversary this October. Over the past 30 years, companies in the Sumitomo Group and Kansai Electric Power Company have held the chairmanship. Mr. Matsumoto originally intended to retire at the end of this term, and had approached several potential managers to replace him, but he said, ``I didn't get any good answers.'' ``I'd like to see someone who thinks about Kansai from a policy standpoint and from a long-term perspective in charge,'' he said.