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

(Excerpt)

May 30, 2006

Q.

The financial results of all the life insurance companies became available yesterday, and their revenues increased for the first time in eight years according to the nine major companies. Some companies even disclosed their three main sources of income to the public. What is your opinion on this?

A.

The economic climate has finally improved for life insurance companies as well, and their core life insurance businesses seem to have started to recover gradually. It is a delightful development.

However, a closer observation reveals that the negative spread still remains, albeit a small one. Life insurance companies would become truly sound if this negative spread disappears. I solemnly hope that the companies make an effort.

Q.

While the financial results of life insurance companies were good, the industry ranking of Meiji Yasuda Life Insurance Company, which was subject to administrative action twice last year, fell from third to fourth. What are your thoughts on this?

A.

I will refrain from commenting on its ranking, as I don't even comment on the ranking of baseball teams as a matter of policy.

(End)