Press Conference by Shizuka Kamei, Minister for Financial Services

(Excerpt)

(Friday, March 26, 2010, from 9:00 a.m. to 9:21 a.m.)

Q.

Minister Sengoku (in charge of national strategy) has just indicated that Ministers will discuss the future of postal businesses. In what setting will this discussion take place? Will some sort of special meeting be arranged for this particular purpose?

A.

Such an opportunity will presumably be arranged by the Chief Cabinet Secretary after he speaks with the Prime Minister. There, Ministers will talk about things such as how postal businesses should be operated in the future. The expression that the Prime Minister used was "talk," rather than "deliberate." As what is being suggested is that an opportunity for talks will be set up, I, naturally, expect the Chief Cabinet Secretary to eventually come to us and say, "Let's do it."

This is indeed a very good idea. We are listening extensively to what non-regular employees, as well as the general public, have to say. It is even better if Ministers are to provide input on future development of postal businesses. Having them do so is an extremely good idea and I highly welcome that. As I repeatedly say, it is not about overturning the process. That should be the basis for us to launch the "talk".

Q.

By saying "it is not about overturning the process," do you mean that the proposed deposit limits or (government's) ownership ratios that were announced two days ago are not poised to be changed or...

A.

Well, those are matters that have been approved by, mind you, the Prime Minister. The decision was made with Minister Haraguchi (Internal Affairs and Communications), got approved [by the Prime Minister], and then finally was announced. That is what I mean by the word "process." Before the policy decision was made, the idea went through the Policy Council and deliberations between (relevant) Ministers and all else, and thereafter the three (coalition) parties were also each informed; thus, there was a development leading up to it.

The three parties here are the Social Democratic Party, the People's New Party, and the Democratic Party, in which case Secretary General Ozawa was also contacted, seeing as the Democratic Party has no policy chief. Of course, before all that, I had reported to the Prime Minister and obtained his approval; I have done all these things. What I am referring to is the entire process I have just described.

Q.

The postal reform bill itself is going to be brought before a cabinet meeting to be approved by the cabinet by around mid-April as scheduled, and subsequently be submitted to the Diet--can I take it that this timetable remains unchanged?

A.

Yes. Unchanged.

Q.

The Money Lending Business Act Project Team (PT) has finally reached the stage just before the finalization of its work. How do you view the current progress?

A.

Actually, I have not--well, although I was supposed to be briefed about it [the progress of discussion and other matters] yesterday, I ran out of time and could not get around to it...

Directions I have given to the Project Team for now are to discuss strictly from a standpoint of borrowers whether there could possibly be problems to occur owing to the (expected full) implementation of the act and, if there could be, come up with ideas on how to solve them. I feel assured that they are working hard on that.

(End)