Katayama Press Conference Summary, October 20, 2026
Overview
Finance Minister Katayama explained the Financial Services Agency’s warnings to prevent customer information leaks from leading to financial losses, cybersecurity measures covering contractors, and the G7 agreement to hold a tabletop exercise. She said specific measures for defense funding had not been decided. The support contribution system aims to ease burdens and encourage employment, with eligibility and benefit levels to be set using the latest data. She described the TOPIX review as broadly covering the market and focusing on liquid stocks to strengthen the index’s function as an investment target.
Key points
- The Financial Services Agency issued warnings about customer information leaks and called on financial institutions to verify identities and manage contractors.
- Specific methods for securing defense funding have not yet been decided.
- Eligibility and specific levels under the support contribution system are being set based on the latest data and other information.
- The TOPIX review was described as a policy to cover the market broadly and focus on liquid stocks, strengthening its effectiveness as an investment target.
Overview
The press conference was held on October 20, 2026, and opening remarks included the number of parliamentary answers since the cabinet took office.
The minister said there had been 536 answers during the extraordinary Diet session, 1,262 during the special session, and 145 in the current extraordinary session through the previous day, for a total of 1,943. She expected the total to exceed 2,000 during the week.
Impact
The Financial Services Agency said it would work to ensure an environment in which customers can use financial services with confidence.
Details
The government said it was not currently aware of impersonation loans or account openings using leaked images of identity documents. It also said losses from special fraud schemes exploiting bank transfers and internet banking were increasing.
On October 9, the Financial Services Agency warned financial institutions and called for identity verification, including reading IC chip data, which is considered highly effective at preventing fraud during transactions. Personal information leaks caused by unauthorized access to contractors had occurred at securities firms, non-life insurers, and life insurers, and the Agency also requested measures that include managing risks from contractors and other parties.
At the G7 Finance Ministers and Central Bank Governors meeting in Bangkok on October 15, participants agreed to hold a tabletop exercise among G7 members in 2027 to prepare for cross-border cyber incidents caused by frontier AI. The Financial Services Agency said it would coordinate with relevant organizations, including the NCO, and encourage financial institutions to respond promptly and appropriately.
Relevant ministries are building discussions toward revising the “Three Security Documents” within the year, covering the specific content of defense capabilities and the level of defense spending. The minister said funding would be considered with fiscal sustainability in mind, but specific methods, including a corporate tax increase, had not been decided.
The support contribution system focuses on low- and middle-income working-age earners whose net burden rate needs to improve. It aims to reduce the burden of taxes and social insurance premiums and encourage employment by easing work disincentives caused by factors such as the “annual income barrier.” The approach to benefits based on income and other factors, along with the elements to be considered, will be stipulated in the bill based on the outline. Specific levels and eligibility will be set based on permanent funding sources, price and wage trends, Diet deliberations, the National Survey of Family Income, Consumption and Wealth, wage data, and other information.
JPX announced the constituents of the new Tokyo Stock Price Index on October 7. The minister described the review as one that covers the market broadly regardless of market segment and limits constituents to liquid stocks. She said it was difficult to gauge any specific market reaction because time had passed.