Press Conference by the Chief Cabinet Secretary (Excerpt)

Q&As

REPORTER: Governor Koike of Tokyo has announced in a press conference that Tsukiji Market will be relocated to Toyosu and that the area that is currently home to the market will be redeveloped in such a way that some of the market’s character and functions will be maintained. You have criticized the delay in the relocation to Toyosu in comments you have made in support of candidates for the upcoming Tokyo Metropolitan Assembly election, among other opportunities. What is your view of the policy outlined by Governor Koike?

CHIEF CABINET SECRETARY SUGA: To be honest, I am not aware of the details of the announcement made by Governor Koike. I am aware that since the postponement of the relocation to Toyosu was announced in August last year a number of inspections and reviews have continued to take place. In any event, this is an issue which the Tokyo Metropolitan Government is responsible for making a decision, as an entity involved in the operation of the market.

REPORTER: You have stated that you are not aware of the details of Governor Koike’s policy. However, the campaign for the Tokyo Metropolitan Assembly election is due to begin on June 23. Do you think that the relocation of Tsukiji Market will be a major issue in the campaign?

CHIEF CABINET SECRETARY SUGA: As for the matter of the relocation to Toyosu, I believe the various local issues facing the people of Tokyo will be at issue. With regard to the relocation to Toyosu, where a new facility has been constructed at an enormous cost of approximately 600 billion yen, although I am only aware of the way the Governor has responded through newspaper reports, I believe that it will likely be one of the focuses for the people of Tokyo in the upcoming election.

REPORTER: What are your thoughts on the timing of the Governor’s announcement, immediately prior to the opening of the campaign for the Tokyo Metropolitan Assembly election?

CHIEF CABINET SECRETARY SUGA: This is not a matter on which the Government should make comments. If you wish to know the intent behind the announcement, I suggest you direct your question to Governor Koike.

(Abridged)

REPORTER: I have a question on a different topic. At the Tokyo Stock Exchange today, the Nikkei Stock Average closed at 20,230 yen. This is the highest closing for the Nikkei in one year and ten months, since August 18, 2015. Can I ask for a comment from the Government?

CHIEF CABINET SECRETARY SUGA: Firstly, I am aware that the Nikkei Stock Average has set a new record high for this year, closing at above 20,000 yen for the second consecutive day. As I always state, I would like to refrain from commenting on behalf of the Government about fluctuations in stock prices and the factors behind such fluctuations. The global economy is on a recovery track, including the buoyant U.S. economy. In Japan at the moment corporate earnings are at their highest level ever and a positive economic cycle is being generated, which is probably one of the reasons the markets are reacting positively. The Government will continue to monitor market trends while steadily implementing the structural reforms stipulated in the Basic Policies 2017 and the Investments for the Future Strategy 2017, which were recently approved by the Cabinet, as we make every endeavor to achieve the revitalization of Japan’s economy.

(Abridged)