Indeed, changes in the economic environment in the 1990s such as the progress of information and telecommunications technology and the globalization of market economies had a substantial impact on Japanese firms in persuading them to change.
* * * Today we are discussing how cyber risk is evolving in the financial sector, and what we should do about it. To set a course of action for the future, I believe we should go back to one fundamental question: why did financial authorities get involved in cyber defence in the first place?