Press Conference by Minister Hagiuda (Excerpt)

*Note: This is a provisional translation for reference purposes only.

8:37-8:41 a.m.
Friday, May 27, 2022
In front of the Cabinet Room, 2nd floor,
National Diet Building

Question-and-Answer Session

G7 Climate, Energy, and Environment Ministers Meeting 

Q: The G7 Meeting of Energy Ministers is taking place now, and a statement is expected to be compiled this evening. Many are watching what will be included about Russian natural gas and coal-fired power. What is Japan's stance on each of these issues?

A: The G7 Climate, Energy, and Environment Ministers Meeting is taking place now. I will refrain from making predictions about their statement at this time, but on the topic of natural gas, we plan to diversify our supply sources by promoting investment in non-Russian LNG and upstream projects. This is to ensure a stable supply of energy and reduce our reliance on Russian natural gas.
Japan must also reduce its ratio of coal-fired power generation as much as possible on the premise of ensuring a stable supply of electricity. We will steadily work on phasing out inefficient coal-fired power toward 2030 and promoting efforts to replace it with decarbonized forms of thermal power by using hydrogen, ammonia, CCUS, and other methods toward 2050.
I believe that the ideas Japan has asserted at every multilateral opportunity are starting to permeate.

Toshiba

Q: My question is about Toshiba.
The company is currently seeking potential sponsors as it moves to become unlisted. I would like to ask if it would be beneficial for Japanese companies to become a part of the sponsors from an economic security standpoint. Also, as there are reports that JIC is considering acquiring Toshiba, can you please comment on the situation including if that is feasible?

A: I am aware that Toshiba is asking investors as potential sponsors to propose strategic options that could enhance the company's corporate value.
As you pointed out, there are reports that Japan Investment Corporation (JIC) is considering investing in Toshiba, but I will refrain from commenting on this as it is an individual investment project.
In any case, Toshiba possesses critical technologies related to national security—such as nuclear power and semiconductors—and I think that it is important for the company to grow and develop such businesses.