Panel Seeks Antitrust Exemptions for Regional Bank Mergers

Politics Economy

Tokyo, April 3 (Jiji Press)--A Japanese government panel on Wednesday called for introducing antitrust exemptions for mergers of regional banks and joint operations by bus service providers.

At a meeting, the Council on Investments for the Future presented documents summarizing issues on a proposed review to the administration of the antimonopoly law.

The government hopes to facilitate mergers of regional banks whose earnings are deteriorating due to declining populations, in order to maintain the economic foundations of rural areas.

The special exemptions would be reviewed after a while. The government will work out details and include these in its growth strategy road map due out in summer.

The documents said mergers should be accepted as exceptions for long-flagging regional banks feared to cause problems with local small business finance, even if the mergers boost the lenders' local market shares to high levels.

[Copyright The Jiji Press, Ltd.]

Jiji Press