Japan Sets Up Working Group to Discuss Securing Critical Goods

Tokyo, March 31 (Jiji Press)–Japanese Prime Minister Sanae Takaichi on Tuesday said that the government has set up a working group to discuss measures to secure a stable supply of critical products. The working group will hold concrete discussions on measures to secure petroleum products in a steady manner amid Iran’s de facto blockade of the Strait of Hormuz, a major oil chokepoint, in the wake of military attacks on Tehran by the United States and Israel. Expecting that the situation will not be resolved anytime soon, Japan will promptly work on diversifying procurement routes. Speaking at the day’s meeting of related ministers on the Middle East situation, which was held at the prime minister’s office in Tokyo, Takaichi said, “We’ll thoroughly inspect the supply situation of critical products and consider detailed measures that take into account our entire supply chain, including the overseas part.” Headed by industry minister Ryosei Akazawa, who was appointed minister in charge of securing stable supplies of critical materials on Monday, the working group will also consist of director-general-level officials from government ministries and agencies. Takaichi at Tuesday’s meeting said that Japan will consider cooperating with and aiding Asian countries hosting major operation bases of Japanese firms. For medical goods, which directly affect people’s lives, the welfare and industry ministries have established a task force that is separate from the working group on critical products supply. “I’d like you all to cooperate with health care-related companies and take measures as soon as possible, such as procuring alternative products,” Takaichi told participants at Tuesday’s meeting. Some companies have already launched moves to secure supplies of naphtha, a raw material for plastics used in a wide variety of items ranging from precision parts and medical devices to vehicles, from destinations other than the Middle East. An official of Mitsui Chemicals Inc. said, “Currently, we’ve secured procurement routes from the United States and Africa.” “We’re currently working on purchasing (naphtha from other areas) under spot contracts to avoid raw material shortages, even though that’ll cost us more than (naphtha) procured from the Middle East,” an official of Mitsubishi Chemical Corp. said. END [Copyright The Jiji Press, Ltd.]