In Japan, despite the strong propensity for safe assets, it cannot be denied that how to make firms and financial products attractive for investment purposes will warrant study. I stated earlier that capital productivity in Japan is low and thus not attractive for either domestic or foreign investors. This refers only to the overall trend of the economy thus far.
For Italy, the reductions amount to about 29 basis points and 140 basis points respectively (down to 577 and 353 basis points respectively). So while larger firms in stressed countries are experiencing improvements in their financing costs, smaller and medium-sized firms in these countries are still lagging behind.