Press Conference by Taro Aso, Deputy Prime Minister, Minister of Finance, and Minister of State for Financial Services

(Excerpt)

(Friday, August 28, 2015, 9:02 am to 9:21 am)

[Questions and answers]

Q.

Large life insurance companies such as Nippon Life Insurance Company are currently moving to make acquisitions one after the other. Minister, how do you view this trend?

A.

I’m aware of the media reports, but I don’t have any comment. I do at least agree with the general view that life insurance companies should, for various reasons, formulate corporate strategies based on their own management decisions, and should work to strengthen their business foundations in various ways, so I think that it is extremely important that this results in more convenience for users.

Q.

Regarding the governance of life insurance companies, most Japanese life insurance companies are either mutual companies or joint stock companies, and a lot of things are being said about the advantages and disadvantages of each format in terms of governance. And it’s clear that mutual companies and joint stock companies seem to be following different paths, or at least have different approaches. Which corporate format do you think is most desirable for life insurance companies?

A.

That’s up to managers’ decision.

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