March 28, 1997 (Friday)
1. The Japanese version of the Big Bang is a set of wide ranging and positive reforms aimed at the vitalization of the Japanese financial market.
2. For this reason, it is essential to implement positive reforms into the existing laws such as the Securities and Exchange Law and the Bank Law. Through consultations with the concerned Ministries, we hope to establish new laws that can also be called special laws for market vitalization, with the aim of raising the market infrastructure to international standards.
3. Moreover, we will be working with the concerned Ministries on adjustments of legal systems related to the commercial laws involved new company bonds which fulfill the various needs, including those of stock options, necessary for revitalization of the Japanese economy.
4. From now on, with the unified execution of the three legislative
measures of, drastic reforms of the Securities and Exchange Law,
the establishment of special laws for market vitalization, and
the adjustment of connected legal systems, the realization of
the Japanese version of the Big Bang will be carried out.
[About the financial system reformation (The Japanese version of the Big Bang)]