Press Conference by the Chief Cabinet Secretary (Excerpt)

Q&As

• The long-term interest rate
• The 41st anniversary of the reversion of Okinawa to Japan on May 15
• The consideration on creating "Japanese heritage sites"

REPORTER: I would like to ask a question with regard to the long-term interest rate. As the depreciation of the yen and the increase in stock prices continue, the interest rate has increased from the 0.6% level of last week to 0.8% this week. Any slight increase in the interest rate raises a variety of concerns, including the repayment of loans and government bonds. What is your interpretation of this?

CHIEF CABINET SECRETARY SUGA: I believe funds are shifting from securities to stocks as stock prices increase. I am aware that this is driving movements in the long-term interest rate. However, with regard to the market interest rate level, due to the nature of the topic I would like to refrain from making point by point comments.

(Abridged)

REPORTER: Tomorrow, May 15, will mark the 41st year since the reversion of Okinawa to Japan. Issues still remain regarding the excessive burden of the bases of the U.S. forces and the promotion and development of Okinawa. Can you please share your opinions on this?

CHIEF CABINET SECRETARY SUGA: As I have stated repeatedly, 70 some odd percent of the bases of the U.S. forces in Japan are located in Okinawa, and it is a fact that the people of Okinawa are being asked to share an excessive burden. The Abe administration is intent on eliminating this burden as quickly as possible. At the same time, in thinking about deterrence, it was agreed also at the recent Japan-U.S. summit meeting that lands south of Kadena will be returned to Japan. Steps are beginning to be taken to this end. Therefore, we will steadily move forward with these efforts and respond to the wishes of the Okinawan people. Also, we must not forget that the people of Okinawa have had to endure a very difficult and agonizing fate.

REPORTER: Do you have any comments regarding the promotion and development of Okinawa?

CHIEF CABINET SECRETARY SUGA: With regard to this matter, the Government will meet the wishes of the people of Okinawa as much as possible, including the construction of a new runway. We will make every effort for the measures for the promotion and development of Okinawa, including the settlement of the issue of the construction schedule of the runway. In addition, we intend to take financial measures for the promotion and development of the respective municipalities. Including these various regulations, we will continue to respond to the wishes of the Okinawan people.

(Abridged)

REPORTER: According to some news reports, Japanese heritage sites registered in the provisional list of UNESCO's World Heritage sites will be labeled as "Japanese heritage sites." What is the status of the considerations?

CHIEF CABINET SECRETARY SUGA: The Agency for Cultural Affairs is studying the possibility of creating "Japanese heritage sites" as part of the Cool Japan strategy to increase international awareness of Japanese culture and traditions. We hope that by offering Government endorsement, international recognition of these sites will increase and this will support the inscription of the sites on the World Heritage List. The specifics are still in the process of review. After consulting with the Council for Cultural Affairs and as soon as the specifics are finalized, I believe that the Agency for Cultural Affairs will be making an announcement.

(Abridged)