Japan nominates Hitachi executive Nakamura to join BOJ board [Reuters]
HITACHI LTD ADR (HTHIY)
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Source: Reuters
Japan nominates Hitachi executive Nakamura to join BOJ board TOKYO (Reuters) - The government on Tuesday nominated Toyoaki Nakamura, a Hitachi Ltd ( 6501.T ) executive, to join the Bank of Japan’s nine-member policy board. Nakamura, 67, would replace Yukitoshi Funo, a former executive of Toyota Motor Corp ( 7203.T ) who has consistently voted with the majority and holds a neutral policy stance. If formally approved by parliament, Nakamura would begin his five-year term on July 1, as Funo serves out his term a day before. Nakamura will fill a post traditionally reserved for a business executive on the BOJ board, which is comprised of academics, economists, career bureaucrats and senior officials from the finance and corporate sectors. Board members who hailed from the corporate sector in the past tended to vote with the majority of the board. Nakamura will join the BOJ at a time the central bank is battling strong economic headwind from the coronavirus outbreak with a dwindling pol
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