Press Conference by the Minister for Financial Services

(Excerpt)

October 11 , 2005

Q.

On the subject of missed non-life insurance payments, some press reported that major non-life insurance companies etc. have been aware of those missed payments for several years. Please tell us your view on this matter, or how you perceive it.

A.

We have, as you know, required non-life insurance companies to submit us a report and will, after receiving the reports, carefully examine them and take appropriate steps as needed.

Q.

In their reports concerning TOB, some media implied that the Financial Services Agency will create restrictions on takeover attempts that would, with market and off-market purchases put together, exceed one-third of shares. Please tell us how FSA is going about this issue.

A.

As I understand that issues involved with takeover bid procedures will be discussed in further detail by the working group under the Financial System Council, we are hoping to take appropriate actions based on such deliberations.