VII. Closing Words
In the current environment for Japan's financial sector, this financial system reform is an urgent matter which must be implemented as soon as possible to establish a prosperous and creative economy and society toward the twenty-first. century, the era in which Japanese society will be aging rapidly.
Because of the urgency of the reform, we have made recommendations in this report on a wide range of matters which are necessary for the reform together with a time schedule, where possible. We hope that the government will implement our recommendations promptly, together with those of the other related advisory councils' recommendations.
As mentioned in the preface, it is very deplorable that scandals
involving financial institutions have occurred often. Sincere
consideration must be given to properly managing financial institutions.
To prevent such scandals' reoccurrence, it is necessary for financial
institutions to ensure that corporate ethical standards are pervasively
employed, with the awareness of its social responsibilities and
public duties. Therefore, we hereby state our hope as closing
words that financial institutions will make their best effort
to restore trust as soon as possible, by thoroughly reconsidering
their business management and attitudes, that are fundamental
to financial institutions.