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

(Excerpt)

(Friday, June 13, 2025, 9:40 am to 9:49 am)
 

Q.

A new management team will be inaugurated today, the 13th, at Iwaki Shinkumi Bank (credit cooperative) in Fukushima Prefecture, and the new president will be internally promoted. Do you have any requests or expectations for the new management team?

A.

I understand that the general meeting of representatives and the board of directors of Iwaki Shinkumi Bank will be held this afternoon and new directors including the new president will be appointed.
I would like the new president and other new directors to conduct a thorough review of the management and organizational culture of the bank, including an investigation into the root causes of the misconducts that have been gone unchallenged over the years and the removal of the causes, in order to recover the trust of the local community as soon as possible. I would also like them to carry out their duties with strong preparedness and determination so that they can fulfill their original roles in supporting the local economy.
Based on the business improvement order issued on the 29th of last month, the Financial Services Agency will strictly confirm and verify the status of business improvement, including efforts toward a fundamental review of the management system and organizational culture by the new directors of the bank.