It was a honor for me on the day before yesterday that I could have a luncheon meeting with Professor James R. Lincoln, UC Berkeley and Mr. Bunroku Yodshino, Chairman of IIES and later in the evening I had a meeting with Professors Takahiro Fujimoto and Makoto Abe, Tokyo University. All of them are prominent scholars in Economics.

When I met Professor Lincoln in last May, we had quite discussions about what the global motor vehicle industry would be in 21st century. He came to Tokyo this time to manage a seminar for Japanese business leaders sponsored by Rikkyo University. Although he arrived here yesterday evening, he looked very fine. Utilizing this opportunity, I introduced him to Mr. Yoshino. Although it was their first meeting, they had a friendly talk about the macro economy. I was impressed both of them had latest infornations. Ambassador Yoshino said he was of opinion that the Japanese economy had not yet started to recover. Professor Lincoln told the U.S. economic prosperity would continue for sometime and would never drop sharply. He evaluated highly Ma. Greenspan's monetary policy. He added that the president election the next year might have big effects on the U.S. economy. The young Bush lacks experience. The trouble is that U.S. might adopt a hard line policy against Japan as far as the trade between two countries, even though whichever of Democrats or Republicans win. The state department has no advisors nor officials familiar with Japan. They ended talks only with macro economy discussions. It was a bit regret that we never had a chance for the continued talks about the world motor vehicle indsusty. He will fly back to San Francisco on Sunday, July 11th. He told me he had to finish the drafts for his new book about suppliers system in the motor vehicle industry. He seems to be very eager to utilize the three months summer vacation as effective as possible.。

When I met Professor Fujimoto last time, it was in last fall. He gave me a few of treatises and a book which he wrote during these months. He also said his new book in English ”The Evolution of a Manufacturing System at Toyota"(Oxford) would be published soon.

Although I had heard that Ma. Fujimoto was a talented driver, it was first time to hear that his talent inherited from his grand father. He went to the U.S.A. at the pioneer days of motor vehicle industry. There he mastered how to drive vehicles by riding many kinds of vehicles. Just after he came back to Japan, he joined a motor race in 1921 whether motor vehicle can reach Tokyo from Shimonoseki faster than the special express train "Swallow." As he had much confidence in driving vehicle, he did not make research at all even about the road conditions. But right after he started the race, some parts of road were so narrow he could not pass over ox carts in front of him and had to go at the speed of ox cart. Even in these days, bridges crossing Tenryu River and Ohi River were not built yet. He forded the former one and drove throgh a railroad bridge crossing the latter. Although he could finish the race, he lost against the train.

The university professors in Japan are said to be so busy for the miscellaneous affairs that their affordable time for the study is limited. But Mr. Fujimoto has a good health and the extraordinary vitality to overcome the circumstances. He leaves his office at the university at eleven o'clock everyday. Without making such efforts, I think that professors in Japan cannot cope with the progress of science in America.

I was impressed by the efforts for their studies made by Japanese and American scholars.

On my way to the evening meeting place, I happened to pass through the off-track horse race ticket selling stands. No female person was found. But from a snap shot I took at the place, I found an only woman among the mostly male gathering.

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