Press Conference by the Chief Cabinet Secretary (Excerpt)

Q&As

(Abridged)

REPORTER: The yen dropped to the 109 yen per dollar level in overseas markets in the early hours of today, and continues to trade at the strongest rate in a year and a half even now in the 110.30-yen range. What is your view of the current situation and what does the Government think the impact on the Japanese economy would be, were the yen to continue to steadily appreciate and move to the 109-yen level, putting it under 110 yen. 

CHIEF CABINET SECRETARY SUGA: The foreign exchange market is currently exhibiting volatility. The Shanghai G20 Meeting in February 2016 presented a view that excess volatility and disorderly movements in the foreign exchange market have an adverse impact and highlighted the importance of foreign exchange rate stability. The Government is monitoring this trend in the foreign exchange market with vigilance and intends to take suitable actions as necessary.   

(Abridged)

REPORTER: Changing topic, I have a question about the Ise-Shima Summit. Some media sources are reporting that final coordination is proceeding on an expanded meeting with a development theme that invites leaders from seven countries – Indonesia, Vietnam, Bangladesh, Sri Lanka, Papua New Guinea, and Chad, the chair country for the African Union. Please explain the related facts.

CHIEF CABINET SECRETARY SUGA: The G7 Ise-Shima Summit is an event taking place in Asia, and Japan would like to invite leaders of countries besides the G7 nations, including Asian countries, and representatives from international agencies, in light of the location. The Government is currently still reviewing the country leaders and international agency representatives it will invite at this point, so I would like to refrain from making comments.

REPORTER: This is a related question. While I understand that you would like to refrain from discussing the countries to invite at this stage, the theme is something that the G7 chair country sets and offers an opportunity for the chair country to make a statement. Do you plan to utilize “development” as the theme?

CHIEF CABINET SECRETARY SUGA: Japan has not determined a direction in a specific format yet, and Prime Minister Shinzo Abe is currently reviewing the situation, including this topic.

REPORTER: I have a question about the Special Committee on the Trans Pacific Partnership. The opposition side requested submission of the proceedings of the negotiation process, but the Liberal Democratic Party only provided materials with titles. Opposition parties are protesting that the materials do not clarify the content. They are demanding an explanation from State Minister of Cabinet Office Shuichi Takatori. However, the explanation is still just an overview at this point. Please explain your thoughts on the opposition’s stance.

CHIEF CABINET SECRETARY SUGA: Disclosure of the negotiation process is not something that has been done because it involves an international negotiation. Information is not disclosed out of consideration for relationships of trust with various countries. I think this is what resulted in the blacked-out version that was passed out. In any case, adjustments are taking place between the ruling and opposition parties, and I think this is a Diet matter and therefore is something for the Diet to decide. However, the Government hopes for a prompt start of the Special Committee so that the Diet can conduct sufficient deliberations.

(Abridged)