However, this does not cause us to be complacent or to place excessive reliance on the home supervisory authorities. We are well aware that, although home and host supervisory authorities and central banks have broadly complementary interests, they can also have divergences - and even conflicts - of interests in some key respects.
Looking ahead, Japan’s economy is likely to be on a moderate expanding trend as domestic demand is likely to follow an uptrend and as exports are expected to increase moderately on the back of emerging economies moving out of their deceleration phase.