Today there are two topics that I would like to cover.

The first is the summary report of the Electricity Industry Committee.

The second is the fourth meeting of the Trust Restoration Committee.

First of all, I would like to comment on the report issued on the 18th of this month by the Electricity Industry Committee of the Advisory Committee for Natural Resources and Energy. I would also like to take this opportunity to thank Chairman Torii and the other members of the Electricity Industry Committee for their many efforts over the past year.

Before the Committee's deliberations even started, my long experience in the electric power industry made me aware that there was a strong need to address the 'engineering bottleneck' caused by the fact that our ability to deliver power and address customer needs are significantly affected by technological factors. One such factor is that the construction of new power-generating facilities takes time, and another is that electricity -- by its very nature -- is a product that cannot be stockpiled.

During the Committee's deliberations, it was therefore necessary to remain aware that one misstep in planning could have a major impact on our customers and society as a whole. It was essential for us to balance the attempt to create a more competitive market environment with the unique characteristics of electricity, and the particular circumstances that our nation faces.

It was in view of these factors that, from the outset of the Committee's deliberations, we proposed a five-point agenda of issues that needed to be simultaneously addressed. In that respect, I think the recent report's conclusions, which call for the implementation of a Japanese market model that ensures a stable power supply by adhering to a unified distribution system, are extremely significant.

As we begin to develop more detailed proposals in the months ahead, we will work to ensure that the Committee's intentions are realized by cooperating with concerned parties to create a competitive environment that will be widely trusted. In addition, we have strengthened our resolve to create a system that brings even greater benefits to our customers, and to the nation as a whole.

However, as I mentioned at last month's press conference, before laying the foundations for a more competitive marketplace, it is essential that we address the question of how we are to deal with issues such as energy security and the global environment -- and this, so far, has not been done.

In particular, there has not been enough discussion of the relationship between nuclear power -- which plays an important role in our ability to address these issues -- and market deregulation.

As the committee's report states, it is essential that we carefully consider the measures and systems needed to coordinate "the promotion of nuclear power generation and the nuclear fuel cycle" with "an electricity market liberalization system." And I believe that we must begin this process, thoroughly discuss the issues involved, and reach a conclusion with all possible speed.

The business of back-end fuel-cycle operations, which requires extremely long-range planning and implementation, is an area where it is particularly difficult for the private sector alone to deal with all the issues involved. It is therefore important for us to clearly define the roles of the public and private sectors, and through government collateralization or other forms of financial support, alleviate some of the private sector risk by ensuring an adequate return on investment.

I would also like to point out that the Energy Policy Basic Law that was enacted last June, and on which the nation's energy policy strategies are now based, stresses three key points: "energy supply stability," "environmental protection," and "the implementation of market principles that reflect the need for energy supply stability and environmental protection."

Now that the Electricity Industry Committee has issued its report, the Electricity Industry Law will be revised. When it is, we believe that it should clearly reflect the spirit of the Energy Policy Basic Law.

I would now like to turn to the subject of the Trust Restoration Committee's fourth meeting, which was held in conjunction with this morning's General Policy Committee meeting. Details are shown in Reference Document 1.

From the outset, the Trust Restoration Committee has sought the counsel of industry outsiders. At today's meeting, we heard a presentation by the respected journalist Nobuhiko Shima on the subject of "Information Disclosure and the Role of the Media," and discussed this topic with him.

As a professional journalist, Mr. Shima understands the position of both those who disseminate information and those who receive it, and in his talk he provided us with a broad perspective of the issues involved.

More specifically, he spoke on the role that today's organizations and leaders are expected to play, and on the background forces and trends behind the demand for greater information disclosure. In addition, he provided insights into how society views the various problems associated with nuclear power.

Listening to today's lecture and the discussions that followed, I was made acutely aware of the need to strive for greater openness, to continuously and proactively provide information about nuclear power, and to explain the necessity for nuclear power and the nuclear fuel cycle from the standpoint of national energy security and the global environment. I also realized the need for a frank exchange of opinions, and that we must seek the public's understanding of the risks and safety of nuclear power.
While continuing to lend an ear to the opinions of learned guests such as our speaker today, we will continue to actively work to restore the public trust.

As a result of the discussions, the committee today decided to make the following efforts to promote information disclosure.

In spirit, we have decided to disclose as much information as we can, unless such disclosure conflicts with the precepts of nuclear non-proliferation, nuclear materials security, or the protection of privacy or privileged corporate information.

Details are shown in the reference material, and they reflect our belief that the best way to restore trust is to provide even more information about the situation at nuclear power-generating facilities. With the exception of matters relating to the recent problems that are under legal review, we have decided to open the information databases administered by FEPC member companies, so that they can be accessed by industry, government, and academic personnel.

In addition, the Nuclear Power Information Corners at each electric power company's head office, which already display such information as nuclear reactor site permit applications and safety standards, will in the future be expanded to include the display of periodic safety inspection reports and other materials.

On the 31st of last month we also added a new Nuclear Power Information Disclosure page to the FEPC nuclear power website, and we will be expanding our website content in the future as information disclosure efforts take more concrete form.

In conclusion, I would like to repeat that we will continue to strive to understand community needs, and to make information more available and comprehensible. It does sadden me, however, that more than a few members of the public seem to be unaware that we have been making such efforts all along.

While recognizing our shortcomings and striving harder to communicate more clearly, we also ask for the understanding and support of all Energy Press Club members in carrying our message to the public.