There has also been a progress in reinforcing safety nets. On top of that, the consolidation of financial institutions, especially large ones, is in progress, something which Japan has never experienced since the end of the World War II.
I sincerely hope these changes will beef up the profitability and competitiveness of financial institutions, thereby enhancing the efficiency and stability of the financial system as a whole. Meanwhile, ongoing corporate restructuring process may exert downward pressure on the economy in the short run.