Support Eyed for Small Japanese Firms amid Epidemic

Politics

Tokyo, Nov. 18 (Jiji Press)--A public-private council at a meeting on Wednesday decided to draw up a support package for small Japanese companies struggling in the face of the novel coronavirus epidemic.

The package is expected to include measures to help small firms switch to businesses with high profitability and promote digitalization of their operations. The council hopes to have these steps reflected in the government's fiscal 2020 third supplementary budget, seen to be compiled in late December.

The meeting was attended by relevant cabinet ministers, as well as representatives from labor and management organizations, including the Japan Business Federation, or Keidanren, and the Japanese Trade Union Confederation, or Rengo.

Prime Minister Yoshihide Suga instructed participating ministers to accelerate work to come up with the package, saying, "It's important that small firms will expand their operations and develop into midsize enterprises so that there will be an increase in the number of internationally competitive Japanese companies."

Participants in the meeting confirmed plans to compile by the end of March 2021 guidelines for preventing small companies from being forced to offer their intellectual property rights, such as patents, and business know-how to large businesses and for blocking unauthorized use of such rights and expertise. Contract forms designed to make sure that such malpractice will not happen are also planned to be drawn up.

[Copyright The Jiji Press, Ltd.]

Jiji Press