Visit to the United States: First Day
Cabinet Secretariat, Sunday, September 23, 2018
[Provisional Translation]
On September 23, 2018 (local time), Prime Minister Shinzo Abe visited New York in the United States of America.
The Prime Minister attended a dinner with the Honorable Donald J. Trump, President of the United States of America.
Tourism Strategy Promotion Council
Cabinet Secretariat, Tuesday, September 21, 2018
[Provisional Translation]
On September 21, 2018, Prime Minister Shinzo Abe attended the 23rd meeting of the Tourism Strategy Promotion Council at the Prime Minister’s Office.
At the meeting, a discussion was held on measures to improve the arrangements for foreign tourists during times of disasters, and measures to dispel harmful rumors or misinformation that are circulating as a result of the disasters that occurred in September 2018 (Typhoon No. 21,* Hokkaido Eastern Iburi Earthquake), among other matters.
Based on the discussion, the Prime Minister said,
“Tourism is a trigger of regional revitalization. Foreign tourists seek scenery and experiences that are unique to each area, which offers great opportunities for all regions.
Meanwhile, the recent series of natural disasters that struck Japan has had a significant impact, resulting in a large number of cancelled reservations at sightseeing destinations, for example. Having visited the sites affected by the disasters, I strongly feel that we must help these regions recover at the earliest possible date.
To begin with, in the recent disasters, foreign tourists did not have sufficient access to information. Based on the views expressed by the experts, we will take every possible measure to ensure that foreign tourists can travel throughout Japan with peace of mind even in the event of a disaster.
Secondly, we will take seriously the views presented by the experts today and the voices from the affected areas, and take resolute steps to dispel the harmful rumors or misinformation related to tourism. Using all means at our disposal, including traditional media and social media, we will effectively spread the message to the world that it is safe to visit Japan. In addition, we will swiftly introduce discounts on accommodation in all areas of Hokkaido where the harmful rumors and misinformation have caused great damage.
I ask that all ministers exert every effort to implement measures towards our goal of welcoming 40 million foreign tourists to Japan per year by 2020.”
*Typhoon Jebi
Courtesy Call from the Secretary of State for Foreign and Commonwealth Affairs of the United Kingdom and Others
Cabinet Secretariat, Tuesday, September 18, 2018
[Provisional Translation]
On September 18, 2018, Prime Minister Shinzo Abe received a courtesy call from the Rt. Hon. Jeremy Hunt MP, Secretary of State for Foreign and Commonwealth Affairs of the United Kingdom, and others, at the Prime Minister’s Office.
Ministerial Council on the Monthly Economic Report and Other Relative Issues
Cabinet Secretariat, Friday, September 14, 2018
[Provisional Translation]
On September 14, 2018, Prime Minister Shinzo Abe attended a meeting of the Ministerial Council on the Monthly Economic Report and Other Relative Issues at the Prime Minister’s Office.
Regarding the assessment of the current state of the Japanese economy, the September Monthly Economic Report states, “The Japanese economy is recovering at a moderate pace.” Furthermore, in regard to short-term prospects, the Report states, “The economy is expected to continue recovering, supported by the effects of the policies, while employment and income situation is improving. However, attention should be given to the effects of situations over trade issues on the world economy, the uncertainty in overseas economies and the effects of fluctuations in the financial and capital markets. Furthermore, sufficient attention should be given to the economic impacts by the successive natural disasters.”
Message of condolences from Prime Minister Shinzo Abe following the damages caused by the typhoon that hit the Northern Philippines
Foreign Affairs, Tuesday, September 18, 2018
Following the damages resulting from the typhoon that hit the Northern Philippines on September 15, Mr. Shinzo Abe, Prime Minister of Japan delivered the following message of condolences to H.E. Mr. Rodrigo R. Duterte, President of the Republic of the Philippines.
“I am deeply saddened and worried to learn the news that many precious lives were lost, many people are still missing and serious damages were brought in the Northern Philippines due to Typhoon Ompong.
On behalf of the Japanese government and people, I would like to extend my heartfelt condolences to the victims and their families, and express my sympathy to those who were affected.
Japan is ready to provide the maximum possible assistance including provision of emergency relief goods to the Philippines. Like the Philippines, we fully understand the hardship caused by severe damages of typhoons. Japan always stands with the Philippines in overcoming this time of difficulties.”
Message of condolences by Foreign Minister Taro Kono following the damages caused by the typhoon that hit the Northern Philippines
Foreign Affairs, Monday, September 17, 2018
Following the damages resulting from the typhoon that hit the Northern Philippines on September 15, Mr. Taro Kono, Minister for Foreign Affairs of Japan delivered the following message of condolences to H.E. Mr. Alan Peter S. Cayetano, Secretary of Foreign Affairs of the Republic of the Philippines.
“I would like to extend my heartfelt sympathy to the government of the Philippines and its people on the damages from Typhoon Ompong in the Northern Philippines.
The Government of Japan stands with the government of the Philippines and its people and is ready to provide the maximum possible assistance to the Philippines.
My deepest condolences are with the bereaved and I sincerely pray for the speedy recovery of the affected people as well as the prompt restoration of the affected areas.”
Foreign Minister Kono Attends the World Economic Forum on ASEAN
Foreign Affairs, Thursday, September 13, 2018
1 General Schedule
Foreign Minister Kono visited Viet Nam (Hanoi) from September 11 (Tuesday) through September 13 (Thursday) to attend the World Economic Forum on ASEAN. This was the first occasion in which the Foreign Minister of Japan participated in the forum.
The principal theme of the forum this year was "ASEAN 4.0: Entrepreneurship and the Forth Industrial Revolution." During the forum, panel discussions were held across a broad range of topics including: the Asian economy, the balance of power, cybersecurity, the challenges of inequality, health issues, artificial intelligence (AI), and women and entrepreneurism, among others.
Foreign Minister Kono attended the Opening Plenary on the morning of September 12. On September 13, he also participated in a panel discussion titled "Asia's Geopolitical Outlook," and articulated Japan's foreign policy.
In addition, Foreign Minister Kono held meetings with several dignitaries who participated in the forum.
September 11
Meeting with H.E. Dr. Kang Kyung-wha, Foreign Minister of the Republic of South Korea
Courtesy call with H.E. Mr. Nguyen Xuan Phuc, Prime Minister of the Socialist Republic of Viet Nam
September 12
Meeting with H.E. Ms. Aung San Suu Kyi, State Counsellor and Union Minister for Foreign Affairs of the Republic of the Union of Myanmar
Courtesy call with H.E. Mr. Tran Dại Quang, President of the Socialist Republic of Viet Nam
Courtesy call with H.E. Mr. Samdech Akka Moha Sena Padei Techo Hun Sen, Prime Minister of the Kingdom of Cambodia
Meeting with Professor Klaus Schwab, Executive Chairman of the World Economic Forum
September 13
10th Meeting of the Japan-Viet Nam Cooperation Committee
Japan-Viet Nam Foreign Ministers' Working Lunch
2 Summary of Panel Discussion: “Asia’s Geopolitical Outlook”
Foreign Minister Kono participated in a panel discussion titled "Asia's Geopolitical Outlook," starting at 9:00 A.M. on September 13 for approximately one hour. Other panelists of the session include: Prime Minister of Sri Lanka Ranil Wickremesinghe, Deputy Prime Minister and Foreign Minister of Viet Nam Pham Binh Minh, Foreign Minister of the Republic of Korea Kang Kyung-wha, and Dr. Lynn Kuok from the Center for Strategic and International Studies.
In response to the moderator's first question about the three main concerns in Asia's geopolitics, Foreign Minister Kono raised: (a) climate change; (b) unilateral attempts to change the status quo; and (c) challenges to multilateralism (and the need for a rule-based international order for free trade). Also, in response to questions from the audience, Foreign Minister Kono explained Japan's position on a broad range of topics including the "Free and Open Indo-Pacific Strategy," TPP, climate change, the acceptance of foreign workers, and United Nations reform, among others.
Statement on Monetary Policy (Bank of Japan)
Bank of Japan, Wednesday, September 19, 2018
1. At the Monetary Policy Meeting held today, the Policy Board of the Bank of Japan decided upon the following.
(1) Yield curve control
The Bank decided, by a 7-2 majority vote, to set the following guideline for market operations for the intermeeting period. [Note 1]
The short-term policy interest rate:
The Bank will apply a negative interest rate of minus 0.1 percent to the Policy-Rate
Balances in current accounts held by financial institutions at the Bank.
The long-term interest rate:
The Bank will purchase Japanese government bonds (JGBs) so that 10-year JGB
yields will remain at around zero percent. While doing so, the yields may move upward and downward to some extent mainly depending on developments in economic activity and prices.1 With regard to the amount of JGBs to be purchased, the Bank will conduct purchases in a flexible manner so that their amount outstanding will increase at an annual pace of about 80 trillion yen.
(2) Guidelines for asset purchases
With regard to asset purchases other than JGB purchases, the Bank decided, by a unanimous vote, to set the following guidelines.
a) The Bank will purchase exchange-traded funds (ETFs) and Japan real estate investment trusts (J-REITs) so that their amounts outstanding will increase at annual paces of about 6 trillion yen and about 90 billion yen, respectively. With a view to lowering risk premia of asset prices in an appropriate manner, the Bank may increase or decrease the amount of purchases depending on market conditions.
b) As for CP and corporate bonds, the Bank will maintain their amounts outstanding at about 2.2 trillion yen and about 3.2 trillion yen, respectively.
2. Japan's economy is expanding moderately, with a virtuous cycle from income to spending operating. Overseas economies have continued to grow firmly on the whole. In this situation, exports have been on an increasing trend. On the domestic demand side, business fixed investment has continued on an increasing trend with corporate profits and business sentiment maintaining their improving trend. Private consumption has been increasing moderately, albeit with fluctuations, against the background of steady improvement in the employment and income situation. Meanwhile, housing investment has been more or less flat. Public investment also has been more or less flat, remaining at a relatively high level. Reflecting these increases in demand both at home and abroad, industrial production has been on an increasing trend, and labor market conditions have continued to tighten steadily. Financial conditions are highly accommodative. On the price front, the year-on-year rate of change in the consumer price index (CPI, all items less fresh food) is in the range of 0.5-1.0 percent. Inflation expectations have been more or less unchanged.
3. With regard to the outlook, Japan's economy is likely to continue its moderate expansion. Domestic demand is likely to follow an uptrend, with a virtuous cycle from income to spending being maintained in both the corporate and household sectors, mainly against the background of highly accommodative financial conditions and the underpinnings through government spending. Exports are expected to continue their moderate increasing trend on the back of the firm growth in overseas economies. The year-on-year rate of change in the CPI is likely to increase gradually toward 2 percent, mainly on the back of the output gap remaining positive and medium- to long-term inflation expectations rising. [Note 2]
4. Risks to the outlook include the following: the U.S. macroeconomic policies and their impact on global financial markets; the consequences of protectionist moves and their effects; developments in emerging and commodity-exporting economies including the effects of the two aforementioned factors; negotiations on the United Kingdom's exit from the European Union (EU) and their effects; and geopolitical risks.
5. The Bank will continue with "Quantitative and Qualitative Monetary Easing (QQE) with Yield Curve Control," aiming to achieve the price stability target of 2 percent, as long as it is necessary for maintaining that target in a stable manner. It will continue expanding the monetary base until the year-on-year rate of increase in the observed CPI (all items less fresh food) exceeds 2 percent and stays above the target in a stable manner. As for policy rates, the Bank intends to maintain the current extremely low levels of short- and long-term interest rates for an extended period of time, taking into account uncertainties regarding economic activity and prices including the effects of the consumption tax hike scheduled to take place in October 2019. [Note 3] It will examine the risks considered most relevant to the conduct of monetary policy and make policy adjustments as appropriate, taking account of developments in economic activity and prices as well as financial conditions, with a view to maintaining the momentum toward achieving the price stability target.
[Note 1] Voting for the action: Mr. H. Kuroda, Mr. M. Amamiya, Mr. M. Wakatabe, Mr. Y. Funo, Mr. M. Sakurai, Ms. T. Masai, and Mr. H. Suzuki. Voting against the action: Mr. Y. Harada and Mr. G. Kataoka. Mr. Y. Harada dissented, considering that allowing the long-term yields to move upward and downward to some extent was too ambiguous as the guideline for market operations decided by the Policy Board. Mr. G. Kataoka dissented, considering that, taking account of the current sluggishness in prices and risk factors going forward, it was desirable to strengthen monetary easing so that yields on JGBs with maturities of 10 years and longer would broadly be lowered further.
[Note 2] Mr. G. Kataoka dissented, considering that the possibility of the year-on-year rate of change in the CPI increasing toward 2 percent going forward was low at this point.
[Note 3] Mr. Y. Harada dissented, considering that it was appropriate to introduce forward guidance that would further clarify its relationship with the price stability target. With a view to achieving the price stability target of 2 percent at the earliest possible time, Mr. G. Kataoka dissented, considering that it was appropriate for the Bank to make a commitment to taking additional easing measures if it revised downward its assessment of medium- to long-term inflation expectations, rather than to make the commitment to maintaining the levels of short- and long-term interest rates.
JICA Project Members Honored with Medals of Honor from the King of Thailand: Recognition of assistance during Tham Luang cave search and rescue operation
JICA, Tuesday, September 18, 2018
On September 7, three people with ties to the Japan International Cooperation Agency (JICA) received the Most Admirable Order of the Direkgunabhorn in Thailand from King Rama X of Thailand for assistance in search and rescue efforts during the Tham Luang cave rescue in June.
Among the three Japanese people receiving the honor was Shigeki Miyake, Senior Representative of the JICA Thailand Office, who went to the site to assist in the search and rescue operation. The Most Admirable Order of the Direkgunabhorn was established as a national order by former Rama IX in 1991 and is conferred on people rendering distinguished service to Thailand or its people. The award bestowed on this occasion was the Member of the Most Admirable Order of Direkgunabhorn, the fifth class of the order.
The three honorees provided technical advice on efficient methods for draining cave water and mud in connection with cooperation being provided by the Japan Aerospace Exploration Agency (JAXA), Electric Power Development Co. Ltd, (J-POWER) and JICA expert on global positioning system (seconded from the Geospatial Information Authority of Japan). The activities they engaged included providing the radar topographical maps created with satellite data at maximum picture resolution from the Advanced Land Observing Satellite 2 and dispatching Kubota pumper truck that had been provided to Thailand by Japan in the past. The honorees came together as a Japanese team during their efforts to support the search and rescue operation of the Government of Thailand.
The three attended the award ceremony with honorees from other countries at the Government House of Thailand in Bangkok, the capital city. The awards were conferred in the presence of Prime Minister Prayut Chan-o-cha and other government officials of Thailand, Shiro Sadoshima, Ambassador Extraordinary and Plenipotentiary to Thailand, and other embassy and government officials from various countries.
At JICA, the safe rescue of all the people trapped in the cave is considered to be a success resulting from the concentrated cooperation of all who participated in the search and rescue operation from Thailand, Japan and other countries around the world. We would like to extend our respect to all who participated and to thank everyone in Japan who reached out in encouragement of the efforts.
JICA President Kitaoka Holds Talks With African Development Bank President Adesina
JICA, Thursday, September 20, 2018
JICA President Shinichi Kitaoka held talks with African Development Bank President Akinwumi Adesina at JICA headquarters in Tokyo on Sept. 6.
They discussed various issues related to African develoopment such as economic situation, industrial development, agricultural development, renewable energy, and the 7th Tokyo International Conference on African Development (TICAD 7), which is scheduled for next year. Regarding agricultural development, they agreed that the two agencies would continue their discussions of promoting the active use of new agricultural technologies.
JICA will partner with the African Development Bank to contribute to solving development challenges in African countries.
