The Japanese government at the weekend announced a list of companies – including a top automaker – which will be subject to tighter foreign ownership rules, as it steps up scrutiny of industries for reasons of national security.
Governments around the world, including in Europe and North America, have become more vigilant with regard to foreign ownership of key strategic companies, particularly those seen as having advanced or sensitive technology, and also companies with core manufacturing competency and operating key infrastructure.
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The ministry of finance has identified 518 firms of the roughly 3,800 listed companies in Japan as having operations core to national security and these will be subject to stringent foreign ownership regulations from the end of this week.
Toyota Motor Corporation is included in the list of restricted companies as is high profile consumer electronics company Sony Corporation.
Among the key industry sectors covered by stricter regulations are oil and gas, utilities, railways, defence manufacturing, space, nuclear power, aviation, telecoms and cyber security.
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