(Excerpt)
(Friday, May 22, 2026, ９:36 am to ９:49 am)
[Opening remarks:]
- Minister)
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In my opening remarks today, I will address two points: the issuance and public release of a request concerning short-term responses by financial institutions in light of evolving threats posed by frontier AI models, and the enforcement of the Act on the Promotion of Cash Flow-Based Lending. First, regarding the frontier AI models, the Financial Services Agency (FSA) will today issue a request to financial institutions under its supervision, calling for short-term responses in light of changes in the threat landscape. This request reflects the possibility that a large number of vulnerabilities may be identified in a short period of time, and that a significant volume of corresponding security patches may be released. It sets out the actions expected of financial institutions, including treating frontier AI-related risks as a management issue and establishing systems to respond promptly when patches are provided. The FSA will continue to encourage financial institutions to respond swiftly to evolving threats posed by the frontier AI models. I also reported on this matter to the Prime Minister yesterday, based on discussions held at the G7 and in other meetings. The Prime Minister indicated that I, in my capacity as Minister responsible for financial services and finance, together with Minister Matsumoto, who is responsible for digital policy, should take the lead in addressing this issue in close coordination, supported by relevant experts, including Mr. Iida, in order to ensure a robust response. With regard to questions previously raised for the post-Cabinet press conference, I would like to note that, during the Japan–U.S. Finance Ministers’ Meeting, Secretary Bessent indicated directly that access would be provided to the Government of Japan and the Japanese financial sector, with a timeframe of within approximately two weeks. At the subsequent meeting between Secretary Bessent and the Prime Minister, which I also attended, the Prime Minister expressed her appreciation, and Secretary Bessent reiterated his intention to provide access as expeditiously as possible. There have been no changes to this understanding in subsequent exchanges, including during the G7. Accordingly, the Government of Japan understands that access will be granted on that basis.
That is our understanding of the situation.
Second, regarding the enforcement of the Act on the Promotion of Cash Flow-Based Lending, the Act will go into effect on Monday, the 25th. Its purpose is to reform lending practices that have relied heavily on real estate collateral and personal guarantees by creating a corporate value collateral framework, and to promote lending based on the future prospects of businesses at various stages, including startups, business succession, and corporate restructuring. The Act will also establish a headquarters for the promotion of cash flow-based lending. The first meeting of this body is scheduled to be held on the 25th, where basic policies for promoting such lending will be decided. The Government as a whole will continue to take forward initiatives from a long-term perspective, so that businesses and financial institutions can steadily make challenges and improvements toward establishing a new lending practice based on business prospects. As for the expected use of the Enterprise Value Charge (EVC), we have received reports that, at this stage, 20 financial institutions plan to undertake a total of 26 initiatives. For further details, I would ask that you consult with the relevant officials.
With regard to comments concerning Anthropic, I have already addressed this point, and that is the extent of the facts as I understand them. If there are any differing remarks made by other ministers or officials, I will clarify them accordingly.
