Press Conference by the Deputy Chief Cabinet Secretary (Excerpt)

Q&As

REPORTER: This morning an emergency meeting between the Government and the Bank of Japan (BOJ) was held. Can you tell us about the reason for the timing of the meeting and its purpose?

DEPUTY CHIEF CABINET SECRETARY SEKO: In this morning’s Emergency Government-Bank of Japan Meeting on Stabilizing Financial Markets, following instructions from the Prime Minister at the opening of the meeting, the participants engaged in analysis and exchange of information concerning the UK exit from the EU. I would like to refrain from making any specific comments about what was discussed. In any event, my understanding is that the meeting provided a forum for information exchange between the Government and the BOJ on how to respond appropriately to the situation.

REPORTER: Are similar meetings likely to be held again on an ad hoc basis?

DEPUTY CHIEF CABINET SECRETARY SEKO: When deemed necessary, meetings will be held at the appropriate timing.

REPORTER: I have a related question. There are concerns that the decision by the UK to exit from the EU will impact the economy. There are also calls from within the ruling parties for the economic policies that are scheduled to be compiled by the autumn to exceed 10 trillion yen in scale. What is the Government’s view of such calls?

DEPUTY CHIEF CABINET SECRETARY SEKO: Firstly, it is the case that short-term fluctuations are occurring in the financial markets and it will be important to carefully monitor these and make every effort to ensure market stability. In addition, given that there is a possibility that the current situation could impact the real economy in the mid to long term, it is necessary to continue to monitor developments carefully. As the Prime Minister also said himself this morning, with a view to ensuring global economic growth it is important to steadily deal with each and every emerging risk, and above all make every effort to ensure that the activities of domestic small- and medium-sized enterprises are not affected. In any event, with regard to the economic policies you mentioned, the Prime Minister has already stated that these will be implemented in the autumn and it is based on the Prime Minister’s comments that the Government will engage in considerations with regard to the scale and timing of such policies.

REPORTER: I have a related question. Given that the timing of policies is currently being considered, is there a possibility that following the recent decision in the meeting this morning, the timetable for implementation of policies may be moved forward?

DEPUTY CHIEF CABINET SECRETARY SEKO: Ultimately the Government will engage in considerations while monitoring the impact of the current situation on the real economy.

REPORTER: Tomorrow will mark six months since the conclusion of the Japan-Republic of Korea (ROK) agreement on the comfort women issue. Mr. Yun Byung-se, Minister of Foreign Affairs of the ROK has made a response in the Korean parliament that the foundation to assist former comfort women will be established by the end of July. Does the Government of Japan intend to make the contribution of one billion yen immediately upon the establishment of the foundation?

DEPUTY CHIEF CABINET SECRETARY SEKO: With the agreement reached last year the Governments of both countries confirmed that the comfort women issue is resolved finally and irreversibly. The fact that directly after the nuclear weapons test and missile launches by North Korea the leaders and foreign ministers of Japan and the ROK have been able to smoothly engage in communication is one way in which it can be said that last year’s agreement has helped to advance bilateral relations. In any event, as has been confirmed by both leaders, it is important for the governments of Japan and the ROK to take responsibility and move forward to implement the agreement. The Government will continue to cooperate closely with the ROK on this matter.

REPORTER: I have a related question. Following last year’s agreement Foreign Minister Yun stated that the ROK would strive to solve the issue of the statue built in front of the Japanese embassy in Seoul in an appropriate manner. Does the Government intend to contribute the one billion yen even without the statue being first removed?

DEPUTY CHIEF CABINET SECRETARY SEKO: In any event, this matter will be implemented in accordance with the exact words that were stated in the joint press conference at the end of last year by Foreign Minister Kishida and Foreign Minister Yun. That is all. The governments of Japan and the ROK will follow the wording of the agreement and take responsibility in implementing it.

(Abridged)