Press Conference by Kaoru Yosano, Minister of Finance and Minister for Financial Services and Economic and Fiscal Policy

(Excerpt)

May 12, 2009

[Opening Remarks by Minister Yosano]

The cabinet meeting proceeded based on the predetermined agenda.

Q.: This week, a succession of major banks is scheduled to announce their financial results, with all of them expected to post substantial losses. Business corporations like Toyota and Toshiba also posted losses. Could you tell us about your view on corporate earnings and the prospects of the economy?
A.: It is wise to address all problems in financial accounting when companies are sick so that they can be completely healthy when they have recovered. It is wise to write off losses without hesitation.

(End)