Japan to Toughen Regulations on Major E-Commerce Operators
Tokyo, Nov. 12 (Jiji Press)--A Japanese government panel reaffirmed on Tuesday its plans to impose tougher regulations on online shopping businesses run by information technology giants.
At the day's meeting of the future investment panel, chaired by Prime Minister Shinzo Abe, participants specifically agreed to examine the idea of obliging major online shopping mall operators, including Amazon.com Inc., Rakuten Inc. <4755> and Z Holdings Corp. <4689>, formerly known as Yahoo Japan Corp., to disclose how they decide search result rankings and to report their operational status regularly.
The panel is planning to work out details of the tougher regulations to be stipulated in legislation the government aims to introduce next year, informed sources said.
At the meeting, Abe told relevant ministers to make efforts to set up rules that respect the IT firms' autonomy as far as innovation efforts in the industry are not hampered.
It has long been suspected that products of companies that pay advertising fees to electronic commerce operators or smartphone app distributors rank high in search results.
[Copyright The Jiji Press, Ltd.]