The Federation of Economic Organizations (Keidanren) and the Japan Federation of Employers Associations (Nikkeiren) have agreed on the name of the new body that will be formed when they merge in 2002, business sources said Tuesday.

The merged group will be called the Japan Business Federation. Its first chairman will most likely be Hiroshi Okuda, the current Nikkeiren chairman, who is also chairman of Toyota Motor Corp., they said.

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