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Executives' Comments  Press Conferences Chairman Tokura's Statements and Comments
at His Press Conference

November 21, 2022

Response to the Eighth Wave of the Covid-19 Pandemic

There are reports that the projected severity and fatality rates of the Omicron variant of Covid-19 in the eighth wave of the pandemic will be lower than the seasonal flu. An increasing number of people have been vaccinated and medicines have been developed. I believe that based on the evidence and experience accumulated so far, the policy direction of not imposing restrictions on movements and striving to maintain a balance between Covid prevention measures and socio-economic activities is appropriate.

[In response to a question on local governments issuing "declarations on strengthening measures against Covid-19" based on the government's policy] I believe that this policy was made based on a comprehensive assessment of the positive and negative aspects of the effectiveness and impact of stay home and other measures under declarations of state of emergency or intensive measures for pandemic prevention. I understand that basically, no restrictions will be imposed on people's movements, but if infections are spreading rapidly to an unexpected degree, local governments may decide to issue a declaration at their discretion.

Expectations on the political authorities

It is regrettable that there have been three consecutive resignations of cabinet members. It is necessary for the Kishida Cabinet to make amends where needed. On the other hand, we are facing numerous major issues amid the harsh international situation, including making diplomatic responses and measures against rising commodity prices. The ruling and opposition parties must engage in thoroughgoing discussions promptly and pass the supplementary budget as soon as possible.

Revenue sources for increased defense spending

All Japanese citizens are beneficiaries of defense and security, so it is only reasonable for society as a whole to bear the cost of defense spending by spreading it out broadly and evenly. There have been reports that corporate tax is the first revenue source being discussed. If this is true, we question the decision. Companies are being asked to make domestic investments and increase wages to build a strong Japanese economy. We hope that there will be a balanced discussion based on an overall consideration of Japan's economic, social, and financial situation, taking into account the sustainability of its economy.

Executives' Comments