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Press Conference by the Chief Cabinet Secretary

Thursday, March 7, 2013 (AM)

Press Conference by the Chief Cabinet Secretary (Excerpt)

[Provisional Translation]


  • The Nikkei Stock Average
  • The Sovereignty Restoration Day

REPORTER: The Nikkei Stock Average has come back to the 12,000s for the first time in four years and five months. What are your views, and how do you analyze the rise in stock prices?

CHIEF CABINET SECRETARY SUGA: As I have often stated, I believe higher stock prices are better than lower. In the context of the economic revitalization put forward by Prime Minister Abe, bold monetary policy, flexible fiscal policy, and a growth strategy that encourages private sector investment are beginning to steadily take shape one by one. I believe it is the expectations towards these measures as well as the judgments based on watching the (Abe) administration over the past two months or so (which are driving up the stock prices).

REPORTER: During the meeting of the Budget Committee of the House of Representatives a short while ago, Prime Minister Abe responded to questions about a Government-organized ceremony for the "Sovereignty Restoration Day" on April 28. While this is something which was also stated in the J-File of the Liberal Democratic Party of Japan (LDP), what is the meaning behind holding this ceremony at this timing? Also, will any procedures, such as Cabinet meetings, become necessary for holding the ceremony?

CHIEF CABINET SECRETARY SUGA: As everyone is aware, on April 28, 1952, the San Francisco Peace Treaty came into effect. It is a very memorable day on which Japan restored its sovereignty, and simultaneously, rejoined the international community and started on its path towards post-war reconstruction. As such, the LDP has made a pledge with the people of Japan by including this in the J-File or the policy proposal of the administration. We would like this ceremony to emphasize our resolve to pave the way for the future of Japan. With this in mind, we will hold the ceremony on the 28th. We would like to immediately get started on the discussions. Naturally I believe this will be taken up in a Cabinet decision.

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