Press Conference by Minister Muto (Excerpt)

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

8:31 to 8:35 a.m.
Friday, December 13, 2024
In front of the Cabinet Room, 2nd floor, National Diet Building

Opening Remarks

None

Question-and-Answer Session

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

Q: There was news coverage indicating that U.S. President Biden plans to formally block Nippon Steel Corporation (Nippon Steel)'s acquisition of United States Steel Corporation (U.S. Steel). If the United States considers an investment by Japan, one of its allies, as a security risk, this will exert a certain influence on Japanese companies' future investment in the United States. There are also concerns over a possible influence on the cooperative relationship from the perspective of economic security, which Japan and the United States have built up so far. What do you think of this issue?

A: It is essential for both Japan and the United States to further strengthen our economic relationship, and for that purpose, it is important to expand mutual investments by continually accumulating transactions between Japanese companies and U.S. companies. Regarding the news coverage you mentioned, of course, I am aware of the situation. However, as I have repeatedly said, since this is an individual case being processed under U.S. law, I would refrain from making any comment on this issue.

Strategic Energy Plan

Q: I would like to ask you about the recommendation regarding the Strategic Energy Plan, which the Liberal Democratic Party (LDP) submitted yesterday. In the recommendation, an amendment is requested for a phrase in the Plan, "to reduce the dependence on nuclear power." Could you explain the true meaning of that phrase and any possible impact that deleting or keeping that phrase will have on the national policy?

A: Yesterday, we received the recommendation on the next Strategic Energy Plan from Chairperson Kajiyama of the Research Commission on Comprehensive Energy Strategy and other LDP members. As the importance of energy security is increasing and further increases in power demand are expected due to the advancement of Digital and Green Transformation, they pointed out the necessity to secure decarbonized power sources and other matters. In consideration of their recommendation, the government will have further deliberations on the next Strategic Energy Plan and will present a draft by the end of this year. I will refrain from mentioning any specific details at this point in time.