Press Conference by KATAYAMA Satsuki, Minister of Finance and Minister of State for Financial Services

(Excerpt)

(Monday, October 27, 2025, 08:18 pm to 08:24 pm)

[Opening remarks:]

Minister)

The meeting took place from around 7:00 p.m. to shortly after 8:00 p.m. We welcomed U.S. Treasury Secretary Scott Bessent and had our first in-person discussion, following up on our telephone conference last week.

[Questions and answers:]

Q.

In your opening remarks, you explained Japan’s responsible proactive fiscal policy to Secretary Bessent. Could you share, to the extent possible, how he responded, for example, his impressions or any reactions he expressed during your discussion?

A.

First of all, Secretary Bessent himself previously founded and managed investment firms that included Japanese equities and assets. He mentioned that his fund had achieved great success as Japanese stock prices rose significantly after the start of Abenomics, when the Nikkei Index was around 8,000 yen. He also noted that when he arrived at the Ministry building today, the Nikkei Index had surpassed the 50,000-yen mark for the first time, joking that this might mark a new phase and whether to call it “Takaichi-nomics” or “Sanae-nomics,” which carries on the positive spirit of Abenomics. He added that Japan’s responsible proactive fiscal policy also appears to be working very well and sending positive signals to the market. He also mentioned that the U.S. market had surpassed a major milestone last weekend, noting that both Japan and the United States were off to a very good start.