Press Conference by SUZUKI Shunichi, Minister of Finance and Minister of State for Financial Services

(Excerpt)

(Friday, December 1, 2023, 10:01 am to 10:13 am)

Q.

Yesterday was the deadline for the Zengin-Net and NTT Data to submit reports on problems with the Zengin System, so I believe the reports were submitted. Please tell us about the Financial Services Agency (FSA)’s response.

A.

As you just pointed out, yesterday, the Zengin-Net and NTT Data submitted reports to us based on the order issued by the FSA regarding the Zengin System failure that occurred last October, and we received them. We are currently reviewing these reports. They arrived just yesterday, and we would like to work to ascertain the actual situation and analyze the root cause.
The FSA believes that the most important thing is to ensure that this kind of incident will not reoccur through appropriate responses by the relevant parties, so we will carefully examine the content of the reports from that perspective. We will consider appropriate responses without preconceptions.

Q.

I would like to ask you about the relationship between ride-sharing and compulsory automobile liability insurance. Insurance premium rates are determined on limited risks. Under the current system, when a professional driver drives a private car, a relatively high rate is applied. When considering ride sharing, what does the FSA think about the impact of ride sharing on compulsory automobile liability insurance rates? And is it realistic or possible to distinguish between ride-sharing drivers and others? Please answer from the perspective of compulsory automobile liability insurance.

A.

Since this is a very technical issue, I think you would get a more accurate answer if you asked the office in charge. Anyway, first, in terms of how far the ride-sharing talks are progressing, currently there are discussions on regional transportation, including ride-sharing, at the meetings of the Digital Administrative and Fiscal Reform and other forums. At the present moment, however, it is still in the consideration stage, and only the beginning discussions are taking place. For example, the recent Diet session was debating the definition of ride-sharing. In other words, at this point, I believe that no conclusion has been reached regarding the handling of ride-sharing.
Therefore, I do not think that the FSA is in a position to comment on the impact on the compulsory automobile liability system, which you have pointed out, at the present stage. We will consider this issue as the discussion progresses.