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Japan to add IT, telecom sectors to foreign ownership restriction

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Via Reuters Finance

A man uses his smartphone next to a Japanese traditional Taiko drum during A man uses his smartphone next to a Japanese traditional Taiko drum during the preprartion for the upcoming Kanda festival in Tokyo, Japan, May 10, 2019. REUTERS/Issei Kato

TOKYO (Reuters) – Japan’s government said on Monday it will add from August the information-technology and telecommunication sectors to a list of industries for which restrictions on foreign ownership of Japanese firms apply.

The new rule comes amid heightening U.S. pressure in dealing with cyber-security risks and technological transfers involving China.

Reporting by Leika Kihara; Editing by Chris Gallagher


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