Press Conference by SUZUKI Shunichi, Minister of Finance and Minister of State for Financial Services

(Excerpt)

(Friday, March 15, 2024, 8:39 am to 8:45 am)

[Opening remarks:]

Minister)

Today, the Cabinet approved two bills submitted by the Financial Services Agency.
One is a bill for partial revision of the Financial Instruments and Exchange Act and the Act on Investment Trusts and Investment Corporations, and is intended to sophisticate and diversify asset management, promote dialogue among investors, as well as ensure the transparency and fairness of markets. This will enable taking of measures to review systems, such as for investment management business, invigorating the distribution of unlisted securities, and those related to takeover bids and the reporting of financial instruments held in large numbers.
The other is a bill of an act for promotion of cash-flow-focused business loans, and is designed to promote finance paying attention to its actual condition and future potential without relying on real-estate collateral, business owners’ guarantee, etc., through taking measures such as creating the security right to corporate value of the entire business, including intangible assets, and establishing headquarters to encourage cash-flow-focused business loans.
We hope that early discussions on the two bills will be held during the current session of the Diet.