P. M. Briefing : Japanese Prodded on Charity

David Rockefeller today welcomed the Japanese buyout of New York’s Rockefeller Center but said investors might follow the example of his ancestors’ corporate philanthropy to prevent anti-Japanese sentiment.

The former chairman of the Chase Manhattan Bank, speaking at a Tokyo symposium titled “How to Become a Good Corporate Citizen,” said it was “quintessentially American to welcome investments and partnership” of foreign corporations.

Japan’s Mitsubishi Estate Co. announced last month it was acquiring a 51% stake in the Rockefeller Group Inc., whose subsidiary manages Rockefeller Center.

But Rockefeller also took note of growing U.S. criticism over recent Japanese acquisitions of American symbols, including Sony Corp.’s buyout of Columbia Pictures.

“If your (the Japanese) presence is to be accepted, my countrymen need . . . to sense you care, that you are willing to adjust,” Rockefeller said. “Japanese corporate philanthropy . . . could play a constructive role in helping defuse the crisis of resentment and misunderstanding.”