is a Japanese economist, retired politician, and political activist last serving as Minister of Internal Affairs and Communications and Minister of State for Privatization of the Postal Services in the cabinet of Prime Minister Junichiro Koizumi. As of July 2007, he is a professor at Keio University and an advisor for other academic institutions and companies. Academic life Takenaka was the second son of a shoe seller in Wakayama City. He attended Hitotsubashi University to study under Ichiro Nakayama and graduated with a BA in Economics in 1973. While at Hitotsubashi, he played the mandolin, and met his wife (a student at Tsuda College) through his mandolin club. In 1973, Takenaka entered the Development Bank of Japan. He was transferred into its Institute for Capital Investment Studies in 1977. In 1981, he left the DBJ to study for a year at Harvard University and the University of Pennsylvania, where he researched capital investment in the United States. The product of his research, the 1984 book Development Studies and Capital Expenditure Economics, won the Suntory Liberal Arts Prize. Takenaka then worked in the Ministry of Finance as a money supply researcher. He initially planned to stay for two years, but ended up working there for five years, from 1982 to 1987. He later completed his Ph.D. at Osaka University. He taught as an associate professor at Osaka (1987–89) and Harvard (1989–90), and received tenure in the Faculty of Policy Management of Keio University SFC (Shonan Fujisawa Campus). Political life Takenaka was picked by Koizumi to become the Minister of State for Economic and Fiscal Policy in 2001. In this capacity, Takenaka has become one of the most prominent voices in the ongoing debate over the privatization and breakup of Japan Post. In 2002 he became Minister of State for Financial Services as well. In this capacity he was the author of the Takenaka Plan, which successfully tackled Japan's banking crisis. One of his biggest accomplishments was to change attitudes within the financial industry, including auditors who had previously rubber-stamped bank earnings reports that understated the size of bad loans. A turning point came in May 2003, when auditors refused to approve the earnings statement of Resona Bank (see Resona Holdings), forcing the bank to seek a $17 billion bailout from the Japanese government. Takenaka won his first election in 2004 and held a proportional representation seat in the House of Councillors.