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March 20, 2003
Financial Services Agency

Statement by Minister for Financial Services

(Provisional Translation)

  1. Today, the use of force was initiated against Iraq. Against this background, the Government of Japan has decided to take appropriate measures, in response to evolving situations, cooperating with relevant countries, in order to prevent disturbance in the Japanese and world economic system.
  2. Consistent with this decision, the Financial Services Agency, to fully ensure the stability of the financial system, has established the Headquarters headed by the Minister and will adequately respond to the situation, in close communication with the Bank of Japan and foreign authorities of financial and securities markets.
  3. The market operators of the Japanese stock markets and financial futures market will open their markets in principle as usual on Monday and thereafter. Moreover, the Tokyo Stock Exchange and other market operators have expressed that they are prepared to take appropriate measures in line with market developments to prevent any unforeseen turbulence.

    (*) Because tomorrow (21st, Friday) is a national holiday (Spring Equinox Day), the Japanese markets will be closed.

  4. The Government will take all appropriate measures in full cooperation with the Bank of Japan, in line with developments in finance and markets. Therefore, the Government calls for depositors, investors and market participants to calmly respond to the situation.

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