(Excerpt)
(Friday, July 10, 2026, ９:31 am to ９:42 am)
[Questions and answers:]
- Q.
-
I would like to ask about the damage resulting from the bankruptcy of Zentoshin, a credit payment processing company that has entered bankruptcy proceedings. Creditors, including regional banks and crowdfunding investors, are reportedly exposed to claims totaling approximately 115.1 billion yen. Could you share your views on this situation and explain what measures the government plans to take in response?
- A.
-
Financial institutions in some regions have already issued timely disclosures, noting that the commencement of bankruptcy proceedings for Zentoshin may impede the collection of receivables. On the other hand, as demonstrated by the near-unanimous passage of the revised Act on Special Measures for Strengthening Financial Functions during the current Diet session, Japan has a robust financial safety-net framework in place for its financial institutions, including regional financial institutions. Accordingly, we do not believe that this case is currently having, or will have, any material impact on the stability of the financial system as a whole. In response to this case, financial institutions have already established consultation desks for affected customers. The affected borrowers are likely to include small and medium-sized restaurant operators, given that this case involves credit card transactions. As we did during the so-called Middle East shock, we have asked banks to conduct monitoring and report within one month, and cooperative financial institutions within three months, so that businesses do not suddenly face cash-flow problems. We have continued these efforts since the U.S. tariff issue last year and have instructed the relevant institutions to further strengthen them in response to this case. In addition, we understand that policy-based financial institutions are also moving forward with support measures for affected businesses.
- Q.
-
As the Basic Policy on Economic and Fiscal Management and Reform is currently being finalized, given that growth investment involves burdens on public finance, it is important that the public be able to share in its benefits through financial returns. Could you share your views on this as the Minister of Finance and Minister of State for Financial Services?
- A.
-
As the Minister of Finance and Minister of State for Financial Services, let me respond to that question. Japan has entered what may be called a “world with interest rates” as it transitions to a new growth-oriented economy under the Takaichi administration. The stock market had already been performing solidly, and it has remained particularly strong recently. Against this backdrop, we would like to pursue measures that encourage households, as well as pension funds such as the Government Pension Investment Fund (GPIF), to invest more in Japanese financial assets so that the public can directly benefit from the fruits of Japan’s economic growth. On this point, suggestions have been made not only within the ruling party but also by opposition parties and members of the Council on Economic and Fiscal Policy. We would therefore like to move swiftly to review the product features of Japanese Government Bonds for retail investors and develop concrete proposals for new products. In other words, this is a policy aimed at enhancing the attractiveness of Japanese Government Bonds. As for the GPIF, this is not something I can decide on my own. However, I would like to discuss the matter within the government and ensure a common understanding on the way forward. As the Ministry of Finance and the FSA, we believe it is extremely important that the public be able to enjoy the fruits of growth that you referred to. To that end, we would like to promote a new policy package aimed at creating a virtuous cycle between economic growth and people’s asset building.
