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

(Excerpt)

(Tuesday, October 21, 2025, ９:54 am to 10:22 am)

[Opening remarks:]

Minister)

The Ishiba Cabinet resigned en masse. Thank you for all your help over the past year. I would like to thank you all again. I would like to express my heartfelt gratitude for the opportunity to hear questions from reporters and to share the Ministry of Finance’s policies with the people of Japan. Thank you very much.

[Questions and answers:]

Q.

As you mentioned at the beginning, I believe a new cabinet will be inaugurated today. One year has passed since you, Minister Kato, were appointed Minister of Finance and Minister of State for Financial Services last October. Please tell us your undiluted feelings as you look back on your tenure.

A.

This may be a bit long, but as I mentioned earlier, one year has passed since the Ishiba Administration was inaugurated on October 1 last year, and looking back now, I feel that it has been a year that has passed so quickly. When I took office as Minister of Finance and Financial Services, I saw signs of economic recovery as a virtuous cycle of growth and distribution was created, partly due to the successful efforts under the previous Kishida Administration. Under the Ishiba Administration, in order to consolidate this trend, I aimed to realize an economy in which wage increases steadily exceed price increases.
(The following text has been omitted.)
The financial administration of the Ishiba Cabinet mobilized all measures to achieve a growth-oriented economy driven by wage increases and investment. As part of this, as Minister of State for Financial Services, I further deepened efforts to make Japan as a Leading Asset Management Center. As a result of promoting the use of NISAs, which was significantly expanded from January last year, as of the end of June 2025, the number of NISA accounts stood at approximately 26.96 million, with a cumulative purchase amount of approximately 63 trillion yen. Currently, one in four adults has a NISA account, and the government’s target purchase amount of 56 trillion yen was achieved more than two years ahead of schedule. As specific measures for corporate governance reform aimed at sustainable corporate growth and medium- to long-term enhancement of corporate value, we revised the Stewardship Code and requested disclosure of annual securities reports before the general meeting. About 58% of all companies that closed their accounts in the fiscal year ended March 31 disclosed information before the general meeting, a dramatic increase from about 2% in the previous fiscal year. In addition, in order to promote innovation using digital technology and ensure the protection of users, we introduced an order for crypto asset exchange companies to retain assets in Japan, made the underlying assets of trust-type stablecoins more flexible, and revised regulations related to crypto assets and stablecoins by amending laws. I hope that the new cabinet will continue to firmly advance such a strategy in order to further strengthen the virtuous cycle of investment and wage increases toward overcoming the deflationary economy.
 Amid various problems, I vividly recall our efforts to address these issues in order to ensure the stability and trustworthiness of the financial system. Soon after my appointment, allegations of insider trading by employees of the Financial Services Agency, the Tokyo Stock Exchange, and financial institutions were raised one after another. In order to ensure confidence in financial markets, this should never happen again, so I called for an investigation into the cause and thorough measures to prevent its recurrence. In the insurance industry, laws were revised with a view to preventing the recurrence of cases of fraudulent insurance claims and cases of insurance premium adjustment, and in light of cases of information leakage, administrative actions were taken and supervisory guidelines were revised.
In response to the cases of unauthorized access to securities accounts and unauthorized transactions, which caused considerable customer damage, we are asking securities companies not to be bound by their traditional position but to respond carefully from the customer’s perspective. We are also working to strengthen security measures so that investors can trade with confidence. In addition, there were cases of theft from safe deposit boxes and illegal loans, which were dealt with strictly in accordance with laws and regulations.
 This concludes my summary. Looking back, I have dealt with various domestic and international issues. In the 386 days to date, I have managed to complete my ministerial duties. I would like to thank the staff of the Ministry of Finance and the Financial Services Agency for their support in policy discussions and questions in the Diet. As I mentioned earlier today, I also had opportunities to explain our policies at press conferences through communication with reporters. We then shared the details of our policies with the people in Japan, receiving a wide range of candid opinions and feedbacks. It is precisely because of this that I have been able to complete my ministerial duties for the past 386 days. I would like to take this opportunity to express my deep appreciation to all of you. Thank you very much.

Q.

It seems that MYAKU-MYAKU, who had been attending Minister Kato’s press conferences all these months, has been dismissed since the Osaka-Kansai Expo 2025 ended. On the other hand, I have heard that Minister Kato’s idea led to Wanisa participating in the press conferences. Will Wanisa be out of service when you retire? Or will it continue its role?

A.

I think Wanisa will continue its role. I recognize that MYAKU-MYAKU’s role has ended with the end of the Expo, but as I mentioned earlier, we need to make further efforts in order to shift from savings to investment. To households, to enterprises, or to intermediate agents. In that sense, I believe that Wanisa’s role will not change. But I think the next minister will decide whether or not to put Wanisa here.