Press Conference by the Commissioner

(Excerpt)

21 January, 2002

Q.

How do you assess Daiei's restructuring plan announced at the end of last week?

A.

I followed their progress with great interest. I'm extremely happy that the parties' efforts by the parties involved have crystallized in the form of the new three-year plan.

In regard to the content of the plan itself, it is a plan by a company borrowing from banks --not the banks' plan. As we are in charge of supervising banks, we are in no position to comment on the borrowing company's restructuring plan per se. However, we had been strongly hopeful for the speedy formulation of a plan that would basically win the approval of the market and the people. It is remarkable that Daiei announced the plan at the end of last week, based on the efforts of those involved.

In response to Daiei's announcement, the banks are committed to supporting the new three-year plan, while they would work out the details in the coming days. I have heard that they are promising to give positive consideration to the plan.

Q.

As for the assessment by the market, which you just mentioned, Daiei's stock dropped to a limit-low and the banks' stock price tended to decline moderately in today's stock market. What is your response to such movements in the market?

A.

As you already know, the prices of stocks go up or down daily on an individual basis due to various factors, as I have always been saying. The aforementioned stock virtually rose to a limit-high last week, but fell to a limit-low today, allegedly because of profit-taking sell-offs. I believe that winning the market's approval in a medium-term perspective is more important than daily stock price fluctuations.