Press Conference by the Chief Cabinet Secretary (Excerpt)

Q&As

REPORTER: I have a question about Toshiba Corporation. It is being reported that Toshiba, which is considering the sale of its semiconductor company, Toshiba Memory Corporation, has entered into the final stages of considerations to give preferential negotiating rights to a Japanese-U.S.-Republic of Korea (ROK) alliance that includes the Innovation Network Corporation of Japan, a public-private fund. Although there is still uncertainty surrounding the situation, including how Western Digital, which has been opposed to the sale of the semiconductor company, will react, what is the Government’s view of these latest moves?

CHIEF CABINET SECRETARY SUGA: Firstly, although I am aware of the press reports about this matter, I would like to refrain from making any comment on the management of a publicly listed company. If I were to add anything further, it would be to note that I am aware that Toshiba's semiconductor business is extremely important from the perspectives that it is highly competitive globally and supports employment domestically in Japan. The Government also recognizes that its importance is also likely to grow from the perspective of information security. We therefore hope that Toshiba will come to a decision on an appropriate buyer taking such perspectives into account and giving comprehensive consideration not only to monetary matters but also to the future of the business.

REPORTER: You have just noted that Toshiba supports employment domestically in Japan, so is the Government concerned also about this point as well as the point about the outflow of technologies overseas?

CHIEF CABINET SECRETARY SUGA: The Government recognizes that the business is likely to grow in importance from the perspective of information security.

(Abridged)