Press Conference by Shizuka Kamei, Minister for Financial Services

(Excerpt)

(Friday, April 27, 2010, from 9:13 to 9:22)

Q.

Concerning postal reform, Minister for Internal Affairs and Communications Kazuhiro Haraguchi has suggested that some 10 trillion yen be invested overseas out of Japan Post Bank's funds. Are you thinking about approaching the Japan Post Bank to propose, suggest or create opportunities to consider the possibility of such overseas investments in the future?

A.

As I have stated a number of times, we will use the precious savings amassed in the interests of the regional community, the nation and the world, as it is our responsibility to do so.

My understanding is that Mr. Haraguchi expressed one of his ideas or thoughts in this regard, and I believe the Japan Post Bank must attain a mechanism (structure) and expertise to gain the ability to make challenges in the future, including the overseas investments he suggested. That is, how [the Japan Post Bank will build] such mechanism or structure after the legislation comes into effect ... Our ideas are not limited to the one mentioned by Mr. Haraguchi. Not only that, but also... Some financial institutions such as second-tier regional banks have already come forward and expressed their eagerness to exert efforts together with the Japan Post Bank, as exemplified by Ehime Bank during my recent visit to Ehime Prefecture. I believe there will be more concrete developments in the future.

(End)