Japanese IT Firms Responding to Fair Trade Law
Tokyo, Feb. 1 (Jiji Press)--Two major Japanese information technology firms have launched full-fledged efforts to respond to a law enforced Monday to ensure their fair deals with smaller business partners.
Rakuten Inc. <4755> set up the same day an office in charge of negotiating with authorities on its e-commerce operations and will form by the end of March a committee to exchange opinions with vendors for its cybermall.
Yahoo Japan Corp. has begun disclosing information including specific screening criteria for store opening in its mall and reasons behind putting display priority on recommended sales items, based on advice from external experts.
Not only these major Japanese IT firms but also Google LLC of the United States and other foreign IT powerhouses are expected to be subject to regulations under the new law, designed mainly to protect smaller online retailers.
The law urges designated IT giants operating cybermalls or selling apps to disclose the terms of contracts with business partners and obliges them to submit regular reports to the government. Such designation will be made around spring.
[Copyright The Jiji Press, Ltd.]