Japan to limit foreign ownership of firms in its IT, telecom sectors


  • TECH
  • Monday, 27 May 2019

A man uses his smartphone next to a Japanese traditional Taiko drum during the preprartion for the upcoming Kanda festival in Tokyo, Japan, May 10, 2019. REUTERS/Issei Kato

Japan's government said on Monday that high-tech industries will be added to a list of businesses for which foreign ownership of Japanese firms is restricted.

The new rule, effective Aug 1, comes amid heightening pressure from the United States in dealing with cybersecurity risks and technological transfers involving China.

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