Insurance chief to head Japan's top business lobby from 2025: source

    TOKYO, Dec. 17 Kyodo - Japan's top business lobby has decided to appoint the chairman of Nippon Life Insurance Co. as its head next year, making him the group's first chief from the financial sector, a source familiar with the matter said Monday.

    Yoshinobu Tsutsui will replace Sumitomo Chemical Co. Chairman Masakazu Tokura as the head of the Japan Business Federation in May 2025, the source said, amid concerns over potential economic uncertainties triggered by U.S. President-elect Donald Trump's imminent return to the White House.

    Tokura has led the federation, also known as Keidanren, since 2021, while Tsutsui has served as vice chairman since 2023. As the chief's tenure is usually two terms, or four years, Tsutsui is expected to head the powerful lobby until 2029.

    Tsutsui became president of the major Japanese life insurer in 2011 and led projects such as the acquisition of smaller rival Mitsui Life Insurance Co. and the expansion of its business to Australia. He was promoted to chairman in 2018.

    Most of the individuals to head the Japanese federation have been from major manufacturers, but Tokura told a press conference in May that he would pick a successor without sticking to the practice.

==Kyodo