Several members of Prime Minister Ryutaro Hashimoto's Cabinet and leaders of his Liberal Democratic Party suggested Friday that tighter controls should be imposed on stock trading by Diet members, while others voiced opposition to the idea.
The lawmakers made the remarks one day after Shokei Arai, a Lower House member from the LDP, hanged himself at a Tokyo hotel just hours before he was to be arrested by prosecutors over suspicions that he made illegal profits in securities trading with Nikko Securities Co. Speaking at separate news conferences after the day's regular Cabinet meeting, Environment Agency chief Hiroshi Oki and Mitsuo Horiuchi, minister of international trade and industry, indicated that Diet members should be prohibited from dealing in stocks.
Chief Cabinet Secretary Kanezo Muraoka said he does not trade in stocks himself but believes other politicians do. "Under the current circumstances, I think politicians must not make stock deals that could become the target of criticism," Muraoka told reporters.
However, Health and Welfare Minister Junichiro Koizumi and Science and Technology Agency chief Sadakazu Tanigaki opposed a total ban, saying lawmakers should be allowed to engage in stock transactions within certain regulations. Among LDP leaders, party Secretary General Koichi Kato said that restrictions on Diet members' stock transactions should be considered. "While some say politicians should participate in stock trading to understand the real economy, others say those who make policy decisions and whose remarks have influence should refrain from engaging in activities that may raise suspicions," Kato said. "The question is whether the system restricting ministers from stock trading should be applied to other politicians."