The Competitiveness Commission, a panel under the direct supervision of Prime Minister Keizo Obuchi, held its first meeting. The commission brings together government and industry leaders to propose ways to increase the competitiveness of Japanese industry. Government representatives at the meeting included the prime minister, Chief Cabinet Secretary Hiromu Nonaka, Minister of Finance Kiichi Miyazawa, and Minister of International Trade and Industry Kaoru Yosano. Industry was represented by Takashi Imai, chairman of Keidanren (Japan Federation of Economic Organizations), and other business leaders. Addressing the commission, the prime minister stressed its significance, saying, "To put the Japanese economy firmly on the path of self-sustaining growth led by private-sector demand, the time has come to address not only demand-side measures but also ways to strengthen the supply side."