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

(Excerpt)

May 12, 2006

Q.

In response to the disciplinary actions taken against ChuoAoyama PricewaterhouseCoopers, its business partner, PricewaterhouseCoopers, seems inclined toward establishing a new auditing firm. What are your views and thoughts on this?

A.

I think any company can conduct an audit per se as long as it has the capabilities, so it is not strange to consider establishing a new company.

What matters is whether or not people with professional expertise required to conduct audits will come together, and it depends on whether or not they have strict values of some kind for such an extremely crucial social mission as audit, so it doesn't matter what kind of establishment they are in.

Q.

Your name has come up as a candidate in the election of the President of the Liberal Democratic Party. What are your plans for the future, including running for President? Also, you currently do not belong to any faction, but do you intend to join or return to any faction?

A.

I am aware that some people have mentioned my name as a joke, but there is nothing more to it.

(End)