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Heizō Takenaka

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Japanese economist and politician
Heizō Takenaka
竹中 平蔵
Official portrait, 2007
Minister for Internal Affairs and Communications
In office
31 October 2005 – 26 September 2006
Prime MinisterJunichiro Koizumi
Preceded byTarō Asō
Succeeded byYoshihide Suga
Minister of State for Economic and Fiscal Policy
In office
26 April 2001 – 31 October 2005
Prime MinisterJunichiro Koizumi
Preceded byTarō Asō
Succeeded byKaoru Yosano
Minister of State for Financial Services
In office
30 October 2002 – 27 September 2004
Prime MinisterJunichiro Koizumi
Preceded byHakuo Yanagisawa
Succeeded byTatsuya Ito
Member of the House of Councillors
In office
26 July 2004 – 28 September 2006
ConstituencyNational PR
Personal details
Born (1951-03-03) 3 March 1951 (age 73)
Wakayama, Japan
Political partyIndependent (2006–present)
Other political
affiliations		LDP (until 2006)
Alma materHitotsubashi University

Heizō Takenaka (竹中 平蔵, Takenaka Heizō, born 3 March 1951) is a Japanese economist, retired politician, and political activist last serving as Minister of Internal Affairs and Communications and Minister of State for Privatization of the Postal Services in the cabinet of Prime Minister Junichiro Koizumi. As of July 2007, he is a professor at Keio University and an advisor for other academic institutions and companies. Takenaka serves on the Board of Trustees of the World Economic Forum.

Academic life

Takenaka was the second son of a shoe seller in Wakayama City. He attended Hitotsubashi University to study under Ichiro Nakayama and graduated with a BA in Economics in 1973. While at Hitotsubashi, he played the mandolin, and met his wife (a student at Tsuda College) through his mandolin club.

In 1973, Takenaka entered the Development Bank of Japan. He was transferred into its Institute for Capital Investment Studies in 1977.

In 1981, he left the DBJ to study for a year at Harvard University and the University of Pennsylvania, where he researched capital investment in the United States. The product of his research, the 1984 book Development Studies and Capital Expenditure Economics, won the Suntory Liberal Arts Prize.

Takenaka then worked in the Ministry of Finance as a money supply researcher. He initially planned to stay for two years, but ended up working there for five years, from 1982 to 1987.

He later completed his Ph.D. at Osaka University. He taught as an associate professor at Osaka (1987–89) and Harvard (1989–90), and received tenure in the Faculty of Policy Management of Keio University SFC (Shonan Fujisawa Campus).

Political life

Heizō Takenaka in 2008
Takenaka at the 2009 World Economic Forum Annual Meeting in Davos, Switzerland

Takenaka was picked by Koizumi to become the Minister of State for Economic and Fiscal Policy in 2001. In this capacity, Takenaka has become one of the most prominent voices in the ongoing debate over the privatization and breakup of Japan Post.

In 2002 he became Minister of State for Financial Services as well. In this capacity he was the author of the Takenaka Plan, which successfully tackled Japan's banking crisis. One of his biggest accomplishments was to change attitudes within the financial industry, including auditors who had previously rubber-stamped bank earnings reports that understated the size of bad loans. A turning point came in May 2003, when auditors refused to approve the earnings statement of Resona Bank (see Resona Holdings), forcing the bank to seek a $17 billion bailout from the Japanese government.

Takenaka won his first election in 2004 and held a proportional representation seat in the House of Councillors.

After Koizumi's Liberal Democratic Party crushing victory in the 2005 General Election, Takenaka assumed his last position as Minister of Internal Affairs and Communications, in charge of Japan Post privatization.

He further attempted to privatize the national public broadcaster NHK but Koizumi did not agree and the attempt was stalled. On 15 September 2006, he announced his retirement from politics. On 28 September his resignation from the House of Councillors was permitted. On 29 September, he submitted a resignation letter to the Liberal Democratic Party, which was agreed on 11 November. On the same day his return to Keio University was disclosed. Now, he is the Chairman of Pasona facing multiple unethical business conducts over the Tokyo Olympics games.

References

  1. "Leadership and Governance - World Economic Forum".
  2. "Japan Takes on Challenges of Structural Reforms", in: Frank-Jürgen Richter and Pamela Mar: Recreating Asia, New York: John Wiley, 2002.
  3. Fackler, Martin (August 6, 2003). "Unlikely Team Sets Banking in Japan on Road to Reform". The Wall Street Journal. Retrieved July 27, 2019.
  4. ja:竹中平蔵#経歴 as of 15:28, 14 June 2007
  5. "Outline | PASONA GROUP".
  6. "竹中平蔵「パソナ」の純利益が前年の10倍以上、営業利益も過去最高に！ 東京五輪と政府のコロナ対策事業を大量受注、巨額中抜きの結果か". 本と雑誌のニュースサイト／リテラ. Retrieved 2021-06-02.
  7. "「東京五輪の日当は35万円」 国会で暴露された東急エージェンシー、パソナへの"厚遇"〈dot.〉（AERA dot.）". Yahoo!ニュース (in Japanese). Retrieved 2021-06-02.

External links

Political offices
Preceded byTarō Asō Minister of State for Economic and Fiscal Policy of
2001–2005 		Succeeded byKaoru Yosano
Preceded byHakuo Yanagisawa Minister of State for Financial Services
2002–2004 		Succeeded byTatsuya Ito
Preceded byTarō Asō Minister for Internal Affairs and Communications
2005–2006 		Succeeded byYoshihide Suga
Business positions
New title Chairman of Pasona Group Inc.
2009–2022 		Vacant
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