"It's window dressing", said Ryo Hino, an analyst at JP Morgan in Tokyo.

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Nissan Diesel, a lorry maker, recently announced that it will stop making diesel motors for its four-tonne trucks and outsource them to the market leader, Hino Motors.

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The agency's new boss, Masaharu Hino, says that it will start investigating all of the top 19 banks (implying, presumably, that this had not been properly done before).

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Ambitious words from Akihiro Hino, the CEO of Level-5, creators of the Professor Layton series, whose Ni No Kuni: Wrath of the White Witch is heading for release in Europe and North America in January.

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Unfortunately, Mr Hino has a staff of only 400, and a senior official at the Bank of Japan worries not only that the banking bureau has, to all intents, imploded, but that the new agency lacks expertise.

ECONOMIST: Will Tokyo finally clean house?