Japan to add IT, telecom sectors to foreign ownership restriction
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