Press Conference by Taro Aso, Deputy Prime Minister, Minister of Finance, and Minister of State for Financial Services
(Excerpt)
(Frieday, August 2, 2019, 10:44 am to 10:55 am)
[Questions and answers:]
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Q.
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My question is regarding the mismanagement of business at Japan Post Insurance Co. The number of misselling of insurance policies has now increased to 183,000. A figure like this may trigger public mistrust in the entire insurance industry. Is it correct to assume that the FSA will take a strict stance toward Japan Post Insurance on this issue?
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A.
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The FSA has expressed its doubts regarding Japan Post Insurance Co. from the start of this issue. The announcement on July 31 clearly reflected what the FSA has been pointing out all along. While it’s been determined to carry out a survey, without fail, the main cause of this incident must be investigated further. It’s been said that incentives were given in a similar way when post office officials gained deposits. If it’s found that this consequently led to these kinds of business practices, they will have to answer for that. I believe that, incorporating the various facts found through the survey results, we must deal with this matter in a strict manner.
