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Press Conference by the Chief Cabinet Secretary

February 6, 2018 (PM)

If you can not view the video,click here(Japanese Government Internet TV)
Simultaneous interpretation services for this video are provided by a third party.

Press Conference by the Chief Cabinet Secretary (Excerpt)

[Provisional Translation]

REPORTER: The Nikkei Stock Average on February 6 closed at 21,610 points, losing 1,071 points from the previous day. This was the steepest decline since June 2016 when the United Kingdom decided to exit the European Union. Could you please tell us the view of the Government?
CHIEF CABINET SECRETARY SUGA: Today, the Nikkei Stock Average, as you just mentioned, fell 1,071 points from yesterday to 21,610 yen. Stock prices are determined in markets based on a variety of factors, and I would like to refrain from commenting on each movement in stock prices. There is absolutely no change to the Government’s recognition that the world economy is on a firm path. In addition, as for the Japanese economy, we view that corporate earnings are at record high levels and the employment and income situations are improving, and that the positive cycle of the economy has definitely begun to move in motion. In any event, we will closely monitor the trends of the global and Japanese economies and take all possible measures to manage the economy.
REPORTER: Concerning today’s stock price losses, the U.S. stock plunge sparked simultaneous stock losses across the world. Some analyze the losses as a temporary adjustment. Some express their concerns that the losses may globally impact the real economies. What is the Government’s analysis regarding these matters?
CHIEF CABINET SECRETARY SUGA: Firstly, with regard to the real economies, corporate earnings including those in Japan have been expanding. There is no change to our understanding that the economies are continuing to recover, albeit moderately, in the United States and Europe as well. In any event, the Government will closely monitor the world economy, including trends in the financial and capital markets.
REPORTER: It has been reported that Judge Hisashi Owada of the International Court of Justice (ICJ) located in the Netherlands made up his mind to retire. Some have suggested that this may have to do with the fact that Her Imperial Highness Crown Princess Masako is anticipated to become an Empress, coinciding with the enthronement of His Imperial Highness the Crown Prince next year. Could you share with us the facts behind it?
CHIEF CABINET SECRETARY SUGA: I am aware of these news reports. The Government would like to refrain from commenting on whether or not a judge of the ICJ, a United Nations organ, stays or leaves his post.

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