Word: kakuei
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Dates: during 1970-1979
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Foreign Minister Takeo Fukuda, a financial expert who is closely aligned with Sato, reportedly went into the contest with the largest gunshikin, or war chest, amounting to about 1 billion yen ($3,077,000), thanks in part to the help of the domestic oil industry. Trade Minister Kakuei Tanaka, a roughhewn construction millionaire, has a fund reputed to total about...
...Fukuda, whom Sato had groomed as the heir apparent, cut short a trip to Seoul scheduled for this week in order to be on hand for Sato's announcement. It will signal what promises to be a struggle for the succession among Fukuda and three rivals: Trade Minister Kakuei Tanaka, a construction millionaire who is the main threat to Fukuda's hopes, and two former Foreign Ministers, Masayoshi Ohira and Takeo Miki...
...market. For the first time in 40 years, private bankers and other capitalists in Japan can keep, spend or lend any foreign currencies that they accumulate, rather than being compelled in most cases to sell them to the government for yen. In addition, at the urging of MITI Minister Kakuei Tanaka, government technicians are now working out details of a plan to shift from $5 billion to $9 billion of the government's foreign-exchange reserves into a fund for making long-term loans to Japanese companies investing overseas...
...code word was still the same last week when U.S. Ambassador-at-Large David Kennedy and Kakuei Tanaka, head of Japan's Ministry of International Trade and Industry (MITI), met in Tokyo to initial an agreement severely restricting Japanese textile sales to the U.S. Exports of synthetic garments and cloth will be permitted to rise only 5% and exports of woolens only 1% annually for the next three years. Even that limit may not be reached, because the pact also contains strict item-by-item regulation of 18 specific categories of products; it allows the Japanese almost no freedom...
...scramble for power within his Liberal Democratic party, which dominates Japanese politics. Fukuda is so closely identified with Sato that political oddsmakers give him only about a 50-50 chance to succeed him as premier. So far, he has three contenders to face: Minister of International Trade and Industry Kakuei Tanaka, 53, a tough, brilliant self-made man, and two former foreign ministers, Takeo Miki, 64, who favors closer relations with Peking, and Masayoshi Ohira, 61, who has solid business support. Whoever wins will have a rocky time...