Daiju Aoki

The comprehensive review might be the first step toward further collaboration with the government, hinting at helicopter money, the government could issue 50-year bonds, and if the BOJ makes a commitment to hold them for a very long time, that would be like helicopter money.

This is a result of the Kumamoto earthquakes, but China's economic slowdown is also having a negative impact, capex fell in the first quarter. The second quarter looks weak and this could extend into the third quarter. This will affect the size of government stimulus and monetary easing.

I think this is a regime change and the BOJ's main policy tool is now negative interest rates, this shows that the ability to buy more JGBs is limited.

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I want to hear if Kuroda will continue to express confidence in meeting his target in fiscal 2015 or whether he will change his assessment, if the BOJ is delaying its target without easing policy again, I think there will be some disappointment in the market.