Japan Wants Better Subcontractor Protection amid Virus Crisis

Politics

Tokyo, June 10 (Jiji Press)--The Japanese government Wednesday requested large companies to make declarations pledging fair business transactions with subcontractors and suppliers hit by the fallout from the novel coronavirus outbreak.

The government wants big companies to clearly promise to secure reasonable profits for their smaller business partners and help small companies adopt information technology for industrywide coexistence and coprosperity, officials said.

The government plans to have leaders of major companies sign their companies' declarations to ensure their effectiveness.

At a meeting May 18, the government and the business community agreed to cooperate in preventing unfair business practices by large companies toward smaller businesses.

The government hopes that declarations of fair transactions will be drawn up by August, when business terms are broadly set for the second half of the fiscal year.

[Copyright The Jiji Press, Ltd.]

Jiji Press