Press Conference by Yuji Yamamoto, Minister for Financial Services

(Excerpt)

June 15, 2007

[Minister's Statement]

To begin with, I would like to comment on a report by a multi-habitation study group regarding the promotion of the ''UJI turn'' moves from urban centers to rural regions and multi-habitation under the ''challenge-again'' assistance initiative. Last April, we launched the multi-habitation study group and have continued our consideration of multi-habitation. On June 4, the group visited Yamanashi Prefecture's Yatsugadake region, which is a frontrunner for multi-habitation. A report on this visit has been made available today. On details, the Cabinet Secretariat's ''Challenge-Again'' Office is ready to answer your questions. I hope you will take good care of this report.

[Questions and Answers]

Q.

This week, an interim report was compiled on the internationalization of the financial markets. What are your views on this matter?

A.

A product of active study, the report covers measures that the private sector should implement on a voluntary basis, as well as those that the government, including regulatory authorities, should tackle, including reform of fines, consideration of desirable regulations on firewall between banks and securities companies, and development of urban infrastructure. Relevant parties are expected to earnestly tackle their respective challenges. As I believe that the internationalization of the Tokyo market should be the centerpiece of Japan's growth strategy, I would like to give consideration to the effectiveness of our measures for internationalization.

(End)

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