Ad Hoc Press Conference by SUZUKI Shunichi, Minister of State for Financial Services

(Excerpt)

(Thursday, February 22, 2024, 5:11 pm to 5:13 pm)

Q.

The Nikkei 225 stock index exceeded the figure recorded on December 29, 1989, when it reached the highest ever registered during intraday, and the closing price also reached a record high. Some people say that this is far from what people are experiencing in daily life, but I would like to hear your thoughts on whether this reflects the real strengths of the Japanese economy.

A.

I know that the Nikkei 225 stock index reached a record high today, and the stock prices may reflect the real strengths of the economic conditions in Japan or the Japanese economy as you point out, but they are determined by various factors such as the performance of individual businesses and expectations for the future, and therefore, I would like to refrain from making comments on daily trends in the stock market.
Currently, in order to promote Japan as a leading asset management center, the government launched the new NISA program in January to help households with stable asset building and is pushing corporate governance reforms to help achieve sustainable corporate growth and enhance corporate value. At the same time, the government is advancing various measures such as initiatives to advance asset management business, including the promotion of new market entries from Japan and abroad, and will continue to work to make the Japanese market more attractive as one targeted for investment.
And I understand that some point out that stock prices may not reflect how people feel in daily life, but in addition to realizing a virtuous cycle of growth and distribution through financial initiatives as I mentioned earlier, the government will strive to help enhance the earning power of businesses and realize wages that are competitive with high prices, thereby improving the experiences of people in daily life.
In any case, we will steadily address the challenges in front of us without being swayed by stock price levels.