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

(Excerpt)

(Tuesday, June 24, 2025, 11:10 am to 11:25 am)

[Opening remarks:]

Minister)

We have just received approval at the Cabinet meeting, and the officers of the Ministry of Finance and the Financial Services Agency (FSA) are to be reassigned as outlined in the materials distributed to you.
As for the personnel changes of senior officials of the Financial Services Agency (FSA), Mr. Ito (Hideki), the current commissioner, will resign and be succeeded by Mr. Ito (Yutaka), the current Director-General of the Supervision Bureau. Mr. Ishida, the current Vice Commissioner for Strategy Development and Management, will assume the position of Director-General of the Supervision Bureau. Mr. Yanase, the current Deputy Director-General of the Strategy Development and Management Bureau, will assume the position of Vice Commissioner for Strategy Development and Management. Mr. Ariizumi, Vice Minister for International Affairs, will resign, and Mr. Miyoshi, Vice Commissioner for International Affairs, will succeed him. Mr. Ozaki, Deputy Director-General of the Supervision Bureau, will succeed Mr. Miyoshi. Mr. Yashiki, Director-General of the Strategy Development and Management Bureau, will also resign, and Vice Commissioner for Strategy Development and Evidence-based Policymaking Mr. Horimoto will succeed him, and Deputy Director-General of the Supervision Bureau Mr. Okada will succeed him as Vice Commissioner for Evidence-based Policymaking. Director-General of the Policy and Markets Bureau, Mr. Yufu, will resign, and his successor will be Mr. Inoue, Secretary-General of the Securities and Exchange Surveillance Commission (SESC), and his successor in turn will be Mr. Saito, Director of the Resolution and Financial Revitalization Department, Deposit Insurance Corporation of Japan.
With regard to the appointment of women in this personnel change, the FSA appointed Ms. Kimata Eiko, who was an auditor at the Mint Bureau, as Deputy Secretary-General of the SESC, and appointed Ms. Yagi Mizue, a first-term staff at the FSA, as the first woman Director of the Resources Management Division. In this way, we are steadily promoting the appointment of women based on their abilities.

[Questions and answers:]

Q.

What are your thoughts on the aim of these personnel changes?

A.

First of all, there is the question of what is required of the Ministry of Finance and the Financial Services Agency.
With regard to personnel changes at the FSA, we will first focus on stabilizing the financial system while keeping a close eye on developments in the financial sector and markets in Japan and overseas, including the impact of the U.S. tariff measures. We will also need to steadily implement initiatives toward becoming a leading asset management center and respond to changes in financial services using new technologies such as AI and crypto-assets. In addition, as I have been saying, in order to promote the formulation and strong promotion of plans for strengthening regional financial capabilities for the sustainable development of regions, we have appointed appropriate persons in light of their past performance and capabilities, as is the case with the Ministry of Finance.

Q.

Continuing the conversation about the personnel changes. What do you expect from Mr. Ito, who will be newly appointed as Commissioner of the FSA? You mentioned earlier about the U.S. tariff measures and other matters in the overall personnel changes of senior officials, what kind of career background do you expect him to have, and what do you expect and aim for with his appointment?

A.

Basically, all I have to say is what I mentioned earlier: Mr. Ito has been appointed as the new Commissioner of the FSA because he is and will demonstrate leadership in carrying out the roles required of the FSA and will be able to fully fulfill his duties.

Q.

My question concerns personnel the changes at the FSA. I would like to ask about Commissioner Ito Hideki, who is currently in office. His term of office was for one year from 2024, and I would like to ask about his evaluation.

A.

I believe that Commissioner Ito, who will be retiring this time, has been playing his role as Commissioner by firmly leading the FSA in such areas as the stabilization of the financial system that I mentioned earlier, amidst various very difficult circumstances.