Press Conference by Minister Muto (Excerpt)

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

10:41 to 10:47 a.m.
Tuesday, December 24, 2024
Press Conference Room, METI Main Building

Opening Remarks

Cabinet decision on the Cabinet Order for Partial Amendment of the Enforcement Order for of the Act on Preventing Mercury Pollution of the Environment

To begin, I will mention two points.

First, today, we made a Cabinet decision on the amendment of the order based on the Act on Preventing Mercury Pollution of the Environment. This order introduces phased restrictions on the production of general-use fluorescent lamps in and after 2026. Continued use and purchases of stocks will be allowed even after the start of the restrictions, but once the inventories have been exhausted, sales will be discontinued. Therefore, we are calling for a systematic shift to LED lamps with high energy-saving effect.

Accidents, such as fires, could occur due to inappropriate installation when replacing lamps, so the Ministry of Economy, Trade and Industry will raise awareness among relevant industry associations and retailers.

Nuclear Fuel Cycle Council

Second, in order to promote the steady implementation of the nuclear fuel cycle, today, the Nuclear Fuel Cycle Council held a meeting as an occasion to obtain the understanding and cooperation of Aomori Prefecture, and I, together with the Chief Cabinet Secretary and other relevant ministers, attended the meeting.

Aomori Governor Miyashita made requests concerning matters such as the preparation for the completion of Rokkasho Reprocessing Plant, the securing of a relocation site for spent nuclear fuels after interim storage, realization of final disposal, compliance with the deadline for relocation of high-level radioactive waste, and promotion of the initiative toward coexistence with the community that was agreed on at the Co-Creation Council. In response to the governor’s requests, I communicated the intention to continue to firmly implement the nuclear power and nuclear fuel cycle policies.

For detailed information, the administrative staff will provide a briefing this afternoon.

Question-and-Answer Session

Business integration between Honda and Nissan Motor

Q: Honda and Nissan Motor announced that they will start negotiating toward business integration. In the automobile industry, global competition to develop electric vehicles and software defined vehicles (SDVs) is expected to become more and more intense. What synergy effects do you expect from the two companies’ business integration?

A: I am aware that the competitive environment surrounding the automobile industry is changing significantly. It is very important for Japanese automakers to positively address challenges and become successful within international competition. We expect that the recent move toward business integration will lead to the strengthening of the competitiveness of the Japanese automobile industry.

Nissan Motor; Nippon Steel’s Acquisition of U.S. Steel

Q: First, in relation to the previous question, Nissan is on the list of entities that require prior examination under the Foreign Exchange and Foreign Trade Act (FEFTA) when a foreign company seeks acquisition. Please tell me how the government of Japan intends to respond if a foreign company actually proposes an acquisition in the future.

I also have a question concerning Nippon Steel. This morning, a media report said that the judgment on whether or not the U.S. government should approve the acquisition of U.S. Steel will be left to President Biden. What is your reaction to that?

A: Regarding Nissan, I recognize that I must comment on it in general terms; while cross-border M&As lead to the acquisition of networks and knowhow possessed by foreign companies, I am aware of the need to pay attention to risks, such as technology leakage to other countries and supply chain disruption.

As for the U.S. Steel issue, I am aware of the media report, but to reiterate, I understand that procedures based on domestic laws of the United States are ongoing. Therefore, at this time, I will refrain from making comments on behalf of the government of Japan.

That said, strengthening the Japan-U.S. economic relationship further is essential to both sides. For that purpose, my belief is that it is important to continually accumulate transactions between Japanese and the U.S. companies and expand investments.