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

(Excerpt)

(Tuesday, October 28, 2025, 03:54 pm to 04:03 pm)

Q.

Moving on to the stock market, the Nikkei Index surpassed the 50,000-yen level yesterday. Could you tell us how you view this development? Some market participants are voicing expectations for what they call a second Abenomics, while others have expressed concern that a combination of fiscal stimulus and monetary easing could fuel inflation. Could you share your thoughts once again on how to strike a balance between these factors?

A.

The United States is, after all, a country where both the government and the public pay close attention to stock prices. Secretary Bessent congratulated Japan, noting that the Nikkei’s rise above 50,000 yen was an impressive achievement. He joked that it might perhaps be a “Takaichi Trade,” or even “Sanae-nomics,” which carries on the spirit of Abenomics. That said, while there was general recognition that the market’s performance reflects positive sentiment toward Japan’s economic policies, there was no specific discussion attributing the market’s rise directly to any particular policy, either yesterday or today. My own view on that point remains unchanged.