Sumitomo Chemical's Tokura to replace head of Japan business lobby in June

The Japan Business Federation said Monday that Masakazu Tokura, chairman of Sumitomo Chemical Co., will replace Hiroaki Nakanishi as head of the powerful business lobby also known as Keidanren on June 1 due to Nakanishi's ongoing battle with lymphoma.Tokura, 70, will assume the post when Keidanren holds a regular general meeting next month. The 75-year-old Nakanishi, who is also executive chairman of industrial conglomerate Hitachi Ltd., has been hospitalized since July last year due to a recurrence of the type of blood cancer and has continued working remotely.Tokura said at a press confer…READ FULL ARTICLE