Historical Dictionary of United States-Japan ... - Bakumatsu Films

124 • JAPAN–U.S. BUSINESS COUNCIL
1969 by Foreign Minister Kiichi Aichi and Acting Ambassador to
Japan Charge Osborn. Based on the League of Nations’ code and the
mandatory rule clause, Japan had been governing the old Southern
Ocean Islands until the end of World War II, but these islands came
under U.S. administrative control based on the United Nations’ Charter
and the trusteeship agreement in the postwar era. Residents on the
islands had been demanding compensation for damages suffered during
World War II. The United Nations Trusteeship Council also asked
both Japan and the United States to solve this problem swiftly. Because
it was a fact that the islands were fierce battlegrounds between
the United States and Japan during World War II and there were many
casualties among native residents, as well as serious material damage
and mental distress, it was desirable to find a practical solution to the
problem. As a result of negotiations between the U.S. and Japanese
governments, each country agreed to make a voluntary contribution
amounting to 1.8 billion yen in order to contribute to promoting the
welfare of all the residents. Japan made it clear that these were not
war reparations from World War II for the trust territories on the Pacific
Islands. Moreover, the United States approved Japan’s demand
that their fishing boats should be able to call at Truk Lagoon and
Palau. In addition, when Japanese vessels were sunk within the trust
territorial waters, it was approved that Japan could salvage them. See
also PACIFIC WAR.
JAPAN–U.S. BUSINESS COUNCIL (JUSBC). The Japan–U.S.
Business Council is a Japanese organization that cooperates with the
U.S.–Japan Business Council (USJBC) in the United States in exchanging
opinions on business policy and making business-related
recommendations to the Japanese and U.S. governments, other business
organizations, corporations, and think tanks. The Japan Federation
of Economic Organizations (Keidanren), the Japan Chamber of
Commerce and Industry (Nihon Shokou Kaigisho), and the Japan
Foreign Trade Council (Nihon Boekikai) formed the Joint Commission
on Trade with the United States in 1958, which later evolved
into the Japan–U.S. Business Conference in 1961. The JUSBC comprises
about 90 public and private companies doing business in Japan
as well as in the United States. It is supported by the Japan Business
Federation, the Japan Chamber of Commerce and Industry, the Japan