Japan's lower house approves Hitachi exec Nakamura to join BOJ board [Reuters]
HITACHI LTD ADR (HTHIY)
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Source: Reuters
Japan's lower house approves Hitachi exec Nakamura to join BOJ board TOKYO (Reuters) - Japan’s lower house on Tuesday approved Toyoaki Nakamura, a Hitachi Ltd ( 6501.T ) executive, to join the Bank of Japan’s nine-member policy board, paving the way for parliamentary approval of the government nominee. Nakamura, 67, would replace Yukitoshi Funo, a former Toyota Motor Corp ( 7203.T ) executive who holds a neutral policy stance. If approved by the upper chamber, which looks certain, Nakamura would begin his five-year term on July 1. About half the respondents in a Reuters poll of economists expected the BOJ to ease further later this month, following its easing of corporate funding strains in March to calm markets jolted by the coronavirus pandemic. Nakamura’s addition is seen as unlikely to tip the balance of the board, as members who hailed from the corporate sector in the past tended to vote with the majority of the board. The central bank’s board is currently split between those
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