Press Conference by the Minister for Financial Services

(Excerpt)

14 May, 2002

Q.

Following Softbank's announcement to sell Aozora Bank's shares, a couple of funds, both domestic and foreign, have allegedly entered the contest. What is your understanding of the situation?

A.

We have not been informed of anything as such. However, our judgment in the ''let's decide on this group'' process assumes that there would basically be no dramatic changes in the makeup of shareholders for a certain number of years. In regard to this, the contract of the sales of the shares stipulates ''investment shall be done based on a long-term perspective.''

Assuming this, firstly, the question is whether it will lead to structural changes in the makeup of the shareholders. To our knowledge, there are three big shareholders -- will it result in major changes such that one of them will be replaced? If there are going to be changes as such, I believe that the position of the remaining two companies will be extremely important.

Our scenario assumes that the shares will be held for, say, at least three years or so.

In any case, this subject has not been made official to us.