Press Conference by Minister Saito (Excerpt)

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

10:56-11:07 a.m.
Friday, December 22, 2023
Press Conference Room, METI Main Building

 

Opening Remarks

Decision by the Nuclear Emergency Response Headquarters and a visit to Saudi Arabia

At the beginning, I would like to mention two points.
First, a meeting of the Nuclear Emergency Response Headquarters was held today remotely to discuss government bonds issued to the Nuclear Damage Compensation Facilitation Corporation for the purpose of compensation payment by Tokyo Electric Power, and it was decided to increase the limit of the issuance of such bonds by an additional 1.9 trillion yen to 15.4 trillion yen.
As the cost of compensation is expected to increase in the future, the government believes that it is important for Tokyo Electric Power to appropriately support the affected people and communities and fulfill its responsibilities. Today’s decision is intended to ensure compensation payment by Tokyo Electric Power, and we plan to reflect it in the FY2024 draft budget.
In light of the decision, today, I will firmly ask TEPCO’s Chairman Kobayashi and President Kobayakawa to promptly and appropriately pay compensation and continue efforts for management reform in order to secure the necessary funds.
As the reconstruction of Fukushima is the utmost priority for the Ministry of Economy, Trade and Industry to address, I will do my best to advance it myself.
Second, from tomorrow, December 23, to December 26, I will visit Saudi Arabia to hold the Japan-Saudi Energy Ministerial Dialogue and attend the Japan-Saudi Vision Ministerial Meeting.
Saudi Arabia is an important country from the perspective of energy security as it supplies 40% of the crude oil imported by Japan. During the forthcoming visit, through the ministerial meeting and one-on-one meetings, I will call for the stabilization of the international crude oil market and also hold discussions on energy cooperation, including in the field of decarbonization, the strengthening of supply chains of critical minerals, support for Japanese companies expanding into business operations there, and promotion of investment in Japan by Saudi Arabia.
At the same time, we will hold a business and investment forum. Through this forum, I hope that progress will be made in cooperation between companies of the two countries in new fields such as medicine, healthcare, water, and outer space.
In July this year, Prime Minister Kishida visited Saudi Arabia, bringing Japan’s economic relationship with that country to a new stage. Building on this, I would like to further strengthen Japan’s relationship with Saudi Arabia during my forthcoming visit.

​Question-and-Answer Session

Nippon Steel’s plan to acquire U.S. Steel

Q: I would like to ask you about Nippon Steel’s plan to acquire U.S. Steel.
This morning Japan time, the director of the White House’s National Economic Council issued a statement mentioning the need for serious scrutiny of Nippon Steel’s plan to acquire U.S. Steel. Please tell me about your reaction and your thoughts on this matter.

A: Of course, I am aware of the statement issued by the U.S. National Economic Council that you mentioned. I believe that it is necessary for Nippon Steel to follow the required procedures.
As this matter concerns the management of a particular company, I would like to refrain from making any further comment. In any case, as the Japan-U.S. alliance has become stronger than ever, I believe that it is important for Japan and the United States to continue cooperation in the field of economic security, such as realizing the sustainable and inclusive economic growth of the Indo-Pacific region and maintaining and reinforcing the rules-based, free and open economic order.

Use of parts made in Japan in Russian weapons

Q: The other day, it was announced that according to an investigation of Russian weapons by the Ukrainian government, integrated circuits and cameras made in Japan were used in some weapons. What is your reaction to that and how will the Ministry of Economy, Trade and Industry deal with this matter?

A: Of course, I am aware of media reports about the matter you mentioned, but I would like to refrain from answering your question because it concerns national security and a particular case.
Even so, generally speaking, there are some cases in which the kind of parts that you mentioned fall under the scope of regulation via the Foreign Exchange and Foreign Trade Act in terms of specifications and performance, so exporting such parts requires a license. In addition, even if the parts do not fall under the scope of regulation in terms of specifications and performance, it is necessary to obtain a license under the so-called catch-all regulation when exporters are aware at the time of export of the risk that the parts may be used for the development or production of weapons of mass destruction.
From the viewpoint of preventing the diversion of exported goods to military uses and maintaining the peace and safety of the international community, we must continue to strictly enforce export controls. We will also encourage exporters to make efforts for substantial export controls and carefully respond to exporters’ requests for consultation.