Press Conference by the Chief Cabinet Secretary (Excerpt)

Q&As

• The issue regarding the ending of the quantitative easing by U.S. FRB
• The Japan-China relations

(Abridged)

REPORTER: The United States Federal Reserve Board (FRB) has decided to end quantitative easing. Can I ask for your thoughts on this matter?

CHIEF CABINET SECRETARY SUGA: I am aware of the press reports that quantitative easing is to end at the end of October. The Government’s stance is to refrain from making any comment that concerns the economic policies of other countries. The Government expects that the FRB will respond appropriately based on economic trends. In any event, this decision is likely to have a significant impact on markets and the global economy and the Government will continue to monitor the situation closely.

REPORTER: I have a related question. It is likely that this decision will further accelerate the depreciation of the yen. What are your thoughts in this regard?

CHIEF CABINET SECRETARY SUGA: Whatever the case, as I just noted, the Government has a keen interest in this decision and will continue to monitor the situation.

(Abridged)

REPORTER: I have a question concerning Japan-China relations. Have you received any report concerning the content of the meeting between former Prime Minister Yasuo Fukuda and President Xi Jinping of China?

CHIEF CABINET SECRETARY SUGA: I am aware from press reports that the meeting took place, however the Government is not aware of what form the meeting between former Prime Minister Fukuda and President Xi Jinping took.

REPORTER: I have a related question. In a recent address you stated that the Government hopes that a Japan-China summit meeting can be realized at the Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting. Will the recent meeting between former Prime Minister Fukuda and President Xi Jinping have any positive impact on this process?

CHIEF CABINET SECRETARY SUGA: I believe that it is a positive development. As I stated in my address, meetings between Japan and China have started to take place at the ministerial level, beginning with the Minister of Economy, Trade and Industry in May, followed by the Minister of Land, Infrastructure, Transport and Tourism, the Minister for Foreign Affairs and most recently Deputy Prime Minister Aso. All of these ministers have met with their Chinese ministerial colleagues and Mr. Fukuda has now met with President Xi Jinping. The Government of Japan will continue to state our basic stance firmly, but I believe that it is of the utmost importance that the leaders of the world’s second and third-largest economies to meet face-to-face and engage in open dialogue.