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Shreen Mohammad sits with other recruits during a military exercise at the Kabul Military Training Center (KMTC) in Kabul March 28, 2012. A landmark NATO summit in Chicago endorsed an exit strategy that calls for handing control of Afghanistan to its own security forces by the middle of next year but left questions unanswered about how to prevent a slide into chaos and a Taliban resurgence after allied troops are gone. Picture taken March 28, 2012. REUTERS/Omar Sobhani (AFGHANISTAN - Tags: POLITICS MILITARY SOCIETY) ATTENTION EDITORS: PICTURE 18 OF 27 FOR PACKAGE 'AFGHAN ARMY RECRUIT'

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Subprime has limited effect on Japan: Shinohara

LONDON | Thu Feb 28, 2008 4:58am EST

LONDON (Reuters) - Japan's financial system is unlikely to be seriously affected by the fallout from the U.S. subprime mortgage market crisis, Japan's top financial diplomat said on Thursday.

"The subprime mortgage problem is not likely to have serious impacts on the Japanese financial system," Naoyuki Shinohara, vice finance minister for international affairs, told the Euromoney Japan Debt Capital Markets Forum in London.

He said the early implementation of the Basel 2 financial market regulation was in part the reason for this.

Shinohara also said Japan's core consumer price inflation was likely to keep a positive trend.

(Reporting by Natsuko Waki and Toni Vorobyova)
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