Prime Minister Shinzo Abe attended the Annual Meeting of the National Association of Shinkin Banks held in Tokyo.

The Prime Minister said in his address,

"I would like to offer some remarks upon the opening of the Annual Meeting of the National Association of Shinkin Banks here today.
Ever since shinkin banks were established as cooperative structured financial institutions founded on the basic philosophy of mutual aid, they have fulfilled a vital role in the Japanese economy by appropriately meeting the needs of local small- and medium-sized enterprises (SMEs) and residents.
With more than 9.3 million members and deposits reaching roughly 126 trillion yen, shinkin banks are essential financial institutions to the lives of the people in each region. This is primarily the product of the hard work put in over many years by those involved in the shinkin bank industry, and I extend my profound respect to you.
The Abe administration considers economic revitalization to be a priority, and has been implementing the first prong or 'arrow' of aggressive monetary policy and the second arrow of flexible fiscal policy, emergency economic measures, and the supplementary budget in rapid succession.
The results of this have been a turnaround in annualized GDP growth to plus 4.1% in this year's January to March quarter. The ratio of job offers to job seekers as well as the business confidence of SMEs have also recovered to the pre-Lehman Shock level. The economy is steadily recovering.
Furthermore, Government-wide efforts are being made to swiftly execute the supplementary budget. Already, more than 80 percent of the projects have been set into motion. We will ensure that the positive ripple effects of the economic recovery reach communities and SMEs.
To achieve 'a new decade of revival' of the Japanese economy through these efforts, on June 14 the third arrow of the growth strategy was decided, which will be immediately translated into action.
Also, in autumn, we will set out the second round of the growth strategy to remove obstacles which stand in the way of companies' development and testing of new products, as well as take measures to promote the renewal and realignment of businesses. Drastic reductions in taxes on investments will also be decided.
The revitalization of local economies through the revival and growth of SMEs is essential for the Japanese economy to exit from deflation and achieve robust growth.
This requires the support of everyone at shinkin banks who have been working closely with those in various sectors, beginning with local SMEs.
I am aware that up to now, everyone at shinkin banks has been contributing to the development of local economies as critical players in SME finances in their respective communities.
As financial institutions relied upon in their respective communities, I would like to ask you to continue to support the management improvement and business revitalization of SMEs and strive to provide a smooth supply of growth funds, and powerfully support the development and growth of SMEs.
On the part of the Government, we will take steps to ensure that the fruits of economic growth are fully passed onto SME and small enterprise operators and workers who are working hard throughout the country.
Lastly, I would like to close my remarks by sincerely wishing for the further prosperity and development of the National Association of Shinkin Banks, its members, and those in attendance."