Press Conference by KATO Katsunobu, Minister of Finance and Minister of State for Financial Services

(Excerpt)

(Tuesday, March 18, 2025, 9:38 am to 9:43 am)

[Questions and answers:]

Q.

I would like to ask about the individual-type Defined Contribution pension plan (iDeCo). The pension reform bill, which is a precondition for raising the maximum pension premium, has not been submitted to the Diet at this time, and it is not likely to be enacted in the current Diet session. There is a possibility that asset building using iDeCo will be affected. Could you give us your opinion?

A.

First of all, I understand that the Ministry of Health, Labour and Welfare is continuing to make adjustments on the pension system reform bill including the revision of the Defined Contribution Pension Act, with the aim of submitting it to the current Diet session, based on instructions from the Prime Minister.
I would like you to ask the Ministry of Health, Labour and Welfare, etc. for details of the situation, but the Financial Services Agency (FSA) intends to advance initiatives one by one to promote Japan as a leading asset management center, including the use of iDeCo to encourage stable asset building by households.

Q.

Yesterday, Daishi Hokuetsu Financial Group of Niigata Prefecture announced that it would consider a merger with The Gunma Bank. The merger of the major regional banks would have a significant impact on the local economy. Could you give your reaction?

A.

I am aware of Daishi Hokuetsu Financial Group and The Gunma Bank’s announcement and media reports.
I understand that the content of the announcement itself does not imply that any decision has been made at this time, as it is intended to review the management strategy, including the business merger.
In any case, it is up to each financial institution to decide how each institution will conduct business judgment. Therefore, the FSA has refrained from commenting on this matter.