Japanese

Provisional Translation

[Opening remarks:]

Minister)

First, I would like to say a few words about the use of reserve funds. I would like to offer my sincere prayers for those who lost their lives in the 2026 Kumamoto Earthquake, which struck on July 28. I would also like to extend my heartfelt sympathies to all those affected by the disaster. At today’s Cabinet meeting, the Cabinet decided to use a total of 24.2 billion yen in reserve funds to respond to the 2026 Kumamoto Earthquake. ... 
I would now like to explain the measures taken thus far by the Ministry of Finance and the Financial Services Agency. To ensure that residents and businesses in the affected areas do not encounter difficulties with cash flow and other matters, we have repeatedly requested that public and private financial institutions respond flexibly and take other appropriate measures. With regard to government property, we have also been working to provide information on government property that can be used for emergency accommodation or as temporary storage sites for waste.

[Questions and answers:]

Q.

I understand that you have also been in contact with local government leaders there. First, how do you perceive the characteristics of this disaster? What kinds of support do you think will be required going forward?

A.

For approximately two years, I was responsible for national resilience and disaster prevention and mitigation as Acting Chairperson of the Liberal Democratic Party’s Policy Research Council, and I visited a considerable number of affected areas. I also visited the affected area at the time of the previous Kumamoto Earthquake. Based on those experiences, rather than focusing on what particular characteristics this disaster may have, I would say that the needs in the affected areas will change as the days pass following the disaster. ... 
At the time of the Noto Peninsula Earthquake as well, I responded to the situation as Chairperson of the Research Commission on the Finance and Banking Systems, after obtaining permission from then LDP President Kishida. The businesses concerned were all small and micro enterprises whose main financial institutions were two shinkin banks. Most of the branches had suffered extensive damage, and there was an extremely pressing sense of crisis that capital might decrease at the end of March if impairment accounting were applied. To prevent that, I went to the affected area in my capacity as, in a sense, an expert. I then coordinated with the Financial Services Agency and the Regional Finance Bureau, and we decided that impairment accounting would not be necessary. Consequently, there were no problems with cash inflows or outflows there. Such responses will also be necessary going forward. I cannot yet announce when I will visit the affected area. If I went there for the same purpose as the Minister of Land, Infrastructure, Transport and Tourism or the Minister of Agriculture, Forestry and Fisheries, I would not be of much help. What I should address are matters relating to cash flow and other fiscal matters going forward. This time, we were able to decide on this use of reserve funds as a first step. However, this will by no means be sufficient to cover everything. To provide reassurance regarding such matters, I am thinking that I may visit the affected area in the not-too-distant future solely for that purpose.