Chief Cabinet Secretary Kihara (木原) flatly denied that Japan was facing yttrium depletion. He explained the outlook for the inventory shortfall reported in the media and the impact of export controls.
Some media outlets reported claims that yttrium, a type of rare earth, was facing depletion, but Chief Cabinet Secretary Kihara (木原) strongly denied this at a press conference on the 22nd, saying, “There is no fact that it will be depleted.” The reports included claims that Japan’s stockpiles would soon run out and last only a few months.
Chief Cabinet Secretary Kihara (木原) pointed out that ensuring a stable supply of rare earths, including yttrium, in Japan was important from the perspectives of business activity and economic security. He said China’s export controls were affecting global industries, including those in Japan.
He also explained that Japan was working with the United States and like-minded countries on policies to build resilient supply chains, including making representations to China and diversifying supply sources. He stressed that Japan would continue to monitor the impact on Japanese companies and industries and respond appropriately.
China has acknowledged its export restrictions on rare earths to Japan, and a Foreign Ministry spokesperson has stated that the purpose is to prevent Japan’s remilitarization and its plans to possess nuclear weapons.