Japan Eyes Obliging IT Giants to Submit Regular Reports
Newsfrom JapanPolitics Economy
Tokyo, Dec. 17 (Jiji Press)--A Japanese government panel put together on Tuesday a draft bill to regulate information technology giants, including plans to have the high-impact companies submit regular reports to the government.
The Headquarters for Digital Market Competition, chaired by Chief Cabinet Secretary Yoshihide Suga, will work out further details in hopes to submit the bill to the ordinary session of parliament next year.
The draft bill aims to keep one-sided deals in check by requiring online shopping website operators and others to disclose the contract terms with shops that use their platforms to sell products.
IT firms of a certain scale are expected to be defined as digital platformers. They will be subject to strict regulations and have to report their management situation to the government on a regular basis.
Noting that discussions on regulations for the IT giants have started to intensify worldwide, Suga said at the meeting that the draft bill "showed our country's (stance) on what the new rules of the digital market should be."
[Copyright The Jiji Press, Ltd.]