Japan Lower House OKs Economic Security Bill

Politics

Tokyo, April 7 (Jiji Press)--Japan's House of Representatives on Thursday passed a bill on promoting economic security, one of the centerpiece policies of Prime Minister Fumio Kishida.

The lower chamber of the Diet, the country's parliament, approved the bill, aimed at enhancing supply chains for strategically important goods such as semiconductors, by a majority vote with support mainly from the ruling coalition of the Liberal Democratic Party and Komeito.

The government and the ruling parties aim to have the bill enacted during the ongoing parliamentary session after holding discussions at the House of Councillors, the upper chamber.

The legislation has four pillars--strengthening supply chains, conducting prior screenings to ensure the security of core infrastructure, promoting public-private advanced technological cooperation and refusing to disclose patents on sensitive technologies that could be used for military purposes.

The bill calls for imposing up to two years of imprisonment or a fine of up to 1 million yen for violations such as making false reports about core infrastructure and leaking information on such patents.

[Copyright The Jiji Press, Ltd.]

Jiji Press