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(Excerpt)
(Tuesday, April 22, 2025, ８:24 am to ８:35 am)
[Opening remarks:]
- Minister)
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We have two announcements to start with.
The Ministry of Finance and the Financial Services Agency conducted interviews with businesses and financial institutions across Japan to ascertain the impact of the U.S. tariff measures. While there has not been much actual impact on financing and regional economies, we have heard some concerns about future impacts.
In light of this situation and the fact that the ruling parties are discussing the necessity of strengthening financing support, we have decided to issue a ministerial statement today, requesting public and private financial institutions to ascertain the situation through the establishment and operation of a consultation service, and to provide more detailed financing support. We have also decided to strengthen the frequency of requesting and announcing reports on the status of loan conditions alteration, etc., and to set up a dedicated consultation hotline at the Financial Services Agency.
We will continue to take swift action to avoid serious impediments to the financing of businesses.
The second announcement is that at the cabinet meeting this morning, I received approval for my overseas trip from 22 to 26 this month to attend meetings, including the 2025 Spring Meetings of the World Bank Group and IMF and the G20 Finance Ministers and Central Bank Governors Meeting to be held in Washington, D.C.
Amid heightened uncertainties in the global economy, I will contribute as a representative of Japan to discussions on various global economic and financial issues, such as stressing the importance of a free and open multilateral trading system, while building relationships with finance ministers of various countries.
[Questions and answers:]
- Q.
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I have a question related to the Financial Services Agency. On April 18, the Financial Services Agency issued a warning about the rapid increase in damage caused by fraudulent transactions in securities accounts. What is your reaction to this issue and what do you think about compensation for customers?
- A.
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In response to the rapid increase in damage caused by unauthorized access to securities accounts and fraudulent transactions via online trading services, the Financial Services Agency newly issued a warning on its website on April 18.
Maintaining trust in financial services is a precondition for financial transactions, and the Financial Services Agency will continue to work closely with industry associations and securities companies to prevent damage caused by unauthorized access and fraudulent transactions so that investors can conduct transactions, including stocks, with a sense of security.
With regard to compensation for customers, we have instructed each securities company to respond sincerely to inquiries and consultations in order to resolve their concerns and to take sincere measures to recover from damage.
In addition to the consideration of compensation by each securities company, we understand that the Japan Securities Dealers Association is also considering compensation along with each securities company. The Financial Services Agency will continue to closely monitor the status of consideration by each securities company and the financial industry to see if appropriate actions are taken from the standpoint of customers.
