Press Conference by Minister Akazawa (Excerpt)

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

9:19 – 9:36 a.m.
Tuesday, May 26, 2026
Press Conference Room, METI Main Building

Opening Remarks

Electricity and gas subsidies and summer energy conservation efforts

First, I would like to mention three points regarding electricity and gas subsidies and summer energy conservation efforts. First, as a measure to cope with the hot summer, and from the perspective of protecting the lives and livelihoods of the people, by encouraging the appropriate use of air conditioners and other similar measures, we will provide support for electricity rates from July to September, when electricity usage increases, at a rate of 3.5 yen per kilowatt-hour in July, 4.5 yen in August, and 3.5 yen in September as the Prime Minister mentioned yesterday. In addition, we will provide support of 1.8 yen, 2.3 yen, and 1.8 yen respectively for high-voltage electricity rates, which mainly affects small and medium-sized enterprises. As a result, electricity rates this summer will be lower than those after the support measures were implemented during the same period last year, resulting in a typical household saving approximately 5,000 yen over three months for electricity and gas combined.

Secondly, in Japan, which is a resource-poor country, we call for energy conservation every summer, a time when energy demand increases, from the perspective of energy security and decarbonization. This year as well, we will continue to encourage everyone to take action within a range that does not disrupt the national economy or daily lives, while also highlighting the specific cost-saving benefits for utilities and fuel. For example, when driving, by consistently practicing gentle acceleration (engaging in eco-driving), you can expect an improvement in fuel efficiency of approximately 10%. Given the fact that the average annual gasoline cost per household nationwide is about 60,000 yen, this means you can expect to save 6,000 yen per year on gasoline. For example, in regions which are highly dependent on cars, the average annual household spending on gasoline for families of two or more can exceed 100,000 yen. For instance, in my hometown of Tottori Prefecture, which, as a matter of reference, is the electoral district of former Prime Minister Ishiba, Tottori City records the highest national average for a city at 110,000 yen. In such cases, even greater savings can be expected.

Finally, the third point is that, in addition to these immediate measures, it is important to implement structural measures such as energy conservation through capital investment and to make the current energy supply-and-demand structure entirely resilient. Specifically, through the supplementary budget established in December 2025, we have decided to implement support for energy conservation and fuel conversion at a scale of approximately 600 billion yen. We will strengthen and make maximum use of these support measures to accelerate corporate investment in energy-saving equipment, and advance the installation of insulated windows and highly efficient water heaters in households.

Question-and-Answer Session

Reserve fund for responding to the situation in the Middle East

Q: As the Minister explained at the beginning, the Prime Minister held a press conference yesterday in response to the situation in the Middle East. During the press conference, the Prime Minister mentioned that a new reserve fund will be set up to respond to the situation in the Middle East. I understand that a large portion of this fund will be related to the Ministry of Economy, Trade and Industry (METI). Could you please share your thoughts on the scale of this fund and the fundamental purpose for its establishment? I believe that you are also considering using reserve funds for gasoline subsidies. Could you please tell us what an appropriate scale for this would be, specifically, what level would be desirable in the future, given that the current gasoline price is around 170 yen per liter? Thank you.

A: As the Prime Minister explained yesterday, given the ongoing uncertainty in the Middle East, we are planning to compile a supplementary budget of just over 3 trillion yen in total. This is to ensure that we are fully prepared financially from the perspective of risk minimization. From the supplementary budget, I understand that a new reserve fund will be established in response to the situation in the Middle East to ensure that we are fully prepared to cope with the impacts of changes in the international situation, such as any future increase in energy prices due to the situation. Regarding gasoline subsidies, the ruling party has suggested that the government should continue to respond flexibly, taking into account the situation in the Middle East, price trends and the sustainability of the support measures. Taking this suggestion into consideration, we intend to respond appropriately, utilizing the reserve fund as needed.

Government officials’ visit to Russia

Q: I have one question. It concerns the visit of government officials to Russia. METI stated on its official X account that it was arranging a visit of its officials to Russia at the end of May. Has the date of the visit been finalized? Also, could you please tell us who from METI will be going, whether any companies will be accompanying them, and what the purpose of the visit is?

A: The Hokkaido Shimbun has been very thorough in their coverage of the Russia matter, and a photo of Mr. Arai Masayoshi, the Director-General of the Trade Policy Bureau, upon his arrival in Russia, was uploaded to the internet. I think you already know who went to Russia. Currently, Director-General Arai and Mr. Ishikawa Masaki, Deputy Director-General of the European Affairs Bureau, Ministry of Foreign Affairs, are on a business trip to Russia. They are scheduled to meet with Russian government officials. As previously announced, this visit is intended to facilitate communication with the Russian side from the perspective of protecting the assets of Japanese companies operating in Russia. As further details involve diplomatic communications and pertain to the specific business activities of individual companies, I will refrain from further comment.

Q: In relation to the same question, and I apologize if this sounds repetitive, but I would like to confirm that there is no intention to seek economic cooperation.

A: At least in terms of new economic cooperation, there is no such intention. In the past, we have sent staff on multiple trips to engage with the Russian side annually, primarily for the purpose of protecting Japanese assets, and this is part of that effort.

Government officials’ visit to Russia, electricity and gas subsidies

Q: I would like to ask two questions. First, regarding the question on the visit to Russia, could you explain why this timing was chosen?

Second, regarding electricity and gas subsidies, it is said that due to global warming, it will remain hot well into autumn. In addition, electricity rates are expected to rise around that time because of the delayed impact of soaring LPG prices. Given these double challenges, what is your view on electricity and gas subsidies from October onwards?

A: Regarding your first question, there is no particular reason for the timing of this visit to Russia. In the past, specifically in 2023, 2024, and 2025, we have dispatched officials to Russia on multiple occasions. According to the documents I have here, this has not been just once a year, but rather two or three times a year to maintain contact with the Russian side. This latest visit is part of these ongoing efforts. Regarding electricity rates, you mentioned LPG earlier, but it is actually LNG. It is LNG, not LPG, that is being used as fuel for electricity. They are different things, and I just wanted to point that out. The current round of electricity and gas subsidies are implemented as measures against the hot summer. From the perspective of protecting the lives and livelihoods of the people, these subsidies will cover the period from July to September, when electricity consumption surges. Since we understand that household electricity consumption generally decreases in October, we do not believe at this point that subsidies will be necessary beyond October. In any case, we will continue to closely monitor the impact of the situation in the Middle East on people's lives and economic activities.

High-level radioactive waste

Q: I would like to ask about high-level radioactive waste. The Nuclear Waste Management Organization of Japan (NUMO) began its literature survey on Minamitorishima Island on May 20. What are your thoughts on this development, and how will you proceed with requests to new municipalities for surveys going forward? Also, could you please tell us about the current status of the surveys already underway in the three municipalities.

A: As you just pointed out, on Wednesday, May 20, we approved the changes to the business plan of the Nuclear Waste Management Organization of Japan, or NUMO, and on the same day, a literature survey concerning Minamitorishima Island began. I would like to express my gratitude once again to Mr. Shibuya Masaaki, Mayor of Ogasawara Village, and all the citizens of Ogasawara Village for accepting the literature survey. To scientifically select the best location, it is essential to conduct surveys at multiple locations across the country. Existing literature data compiled nationwide provides limited geological information on the geology at significant depths. I believe it is meaningful to acquire new geological information on the geology at such depths through literature surveys and preliminary investigations and to compare and consider the information obtained from these efforts. Furthermore, other countries that had already conducted similar surveys gradually narrowed down their candidates from an initial pool of five to ten sites. Therefore, I believe that further expanding the number of areas participating in the literature survey is essential going forward. To further expand the areas for literature surveys, it is of paramount importance for the relevant municipalities to understand the necessity of final disposal and the details of the survey itself. Currently, we are making efforts such as individual visits to municipal leaders and nationwide explanatory meetings. Going forward, rather than simply waiting for applications for surveys from local governments, the national government will take responsibility and proactively make requests to the regions.