Japan to Tighten Regulations on IT Giants in 2021
Tokyo, Feb. 18 (Jiji Press)--The Japanese government adopted new legislation on Tuesday to strengthen regulations on information technology giants, aiming to put it into force in spring 2021.
The legislation, set to be submitted to parliament shortly, will call for online retail giants and major technology firms to increase disclosure to protect customers and businesses selling products using their services.
Companies subject to tighter regulations under the new legislation will include such U.S. firms as Google, Apple Inc. and Amazon.com Inc. and Japan's Rakuten Inc. <4755>.
Under the legislation, the government will encourage such firms to increase disclosure and transparency and monitor the progress of their efforts.
The government also adopted new legislation to promote the domestic development of drones and fifth-generation, or 5G, wireless technology as well as the introduction of related products made in the United States, Europe and South Korea.
[Copyright The Jiji Press, Ltd.]