Press Conference by ASO Taro, Deputy Prime Minister, Minister of Finance, and Minister of State for Financial Services

(Excerpt)

(Wednesday, May 27, 2020, 6:22 pm to 6:33 pm)

[Opening remarks:]

I would like to talk about amendment to the Act on Special Measures for Strengthening Financial Functions. As you know, Japan’s financial system itself is perhaps one of the world’s most stable, and there are no particular problems with regard to its soundness. Given this, a variety of measures have been adopted to strengthen financial functions in the supplementary budget, and promoting the equity financing of companies. In view of these budget measures as well as requests made of financial institutions by the government, financial institutions must continue providing assistance with the aims of supporting local micro- and small companies and reviving the economy. We are hoping to submit a bill to amend the Act on Special Measures for Strengthening Financial Functions, which defines Japan’s capital participation system for financial institutions, to the current Diet session as a “forward-looking and pro-active approach”. As for specific details on this matter, please direct your inquiries to an administrative official.