Japan Eyes Mandatory Disclosure by Global IT Giants
Tokyo, Nov. 5 (Jiji Press)--The Japanese government is eyeing compulsory investigations of global information technology giants and mandatory disclosure of transaction information they hold, in a bid to ensure transparency and fairness, it was learned Monday.
In an interim report, a panel of experts jointly set up by the industry and communications ministries and the Japan Fair Trade Commission noted that global IT giants known as "platformers" tend to create monopolies and oligopolies.
The panel had in mind Google Inc., Apple Inc., Facebook Inc. and Amazon.com Inc., collectively known as GAFA.
The European Union has tightened regulations on the companies, with a view to enhancing the protection of personal data.
The Japanese government plans to draw up basic principles for its policy to oversee IT giants by year-end, while watching related moves overseas.
[Copyright The Jiji Press, Ltd.]