Top officials of the Japan Federation of Economic Organizations (Keidanren) and the Japan Federation of Employers’ Associations (Nikkeiren) confirmed at their first joint meeting Wednesday they will set up the Japan Business Federation late next May.

Keidanren Chairman Takashi Imai told executive members that a basic policy to operate the new body will be compiled Monday by a preparatory committee to promote a merger of the two organizations, a Keidanren official told reporters.

The policy is expected to include criteria for board members and member companies, and standards for integrating the working committees of the two groups, the official said.

Nikkeiren Chairman Hiroshi Okuda told participants, including most of the vice chairmen from the two groups, that the new entity should continue working with local employer associations as Nikkeiren has been doing, the official said.

The participants also confirmed the two groups will hold extraordinary general meetings in January to seek final approval of the merger from their members.

In February, a joint committee that will draw up business plans for the new organization will be established, the Keidanren official said.

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