Ministry of Finance released a list of companies deemed important to national security.
07 May 2020
On 7 May 2020, the Ministry of Finance released a list of 518 companies in the 12 sectors deemed important to Japan's national security (14 per cent of publicly traded companies) -- including Toyota, Sony, Mitsubishi Heavy Industries, Hitachi, Tokyo Electric, Central Japan Railway and SoftBank.
Any foreign investor is required to submit a prior notification of stock purchases to the government via the Bank of Japan when planning to acquire a stake of 1 per cent or higher in these listed companies. The total of Japan’s 3,800 listed companies is divided into three categories: those requiring prior notification, those not requiring prior notification, and those with exemptions in some cases.
A 30-day grace period until 7 June is allowed for full implementation. During this period foreign investors will be expected to submit a prior notification if they plan to purchase 1 percent or more of the shares of the designated companies. If clearance is obtained, the foreign investors will be permitted to purchase stocks up to the notified amount at any time within a six-month period.
-
Type:
-
Entry and establishment (Approval and admission)
-
Industry:
-
Primary (Mining and quarrying)
-
Manufacturing (Manufacture of coke and refined petroleum products, Manufacture of transport equipment, Other manufacturing)
-
Services (Electricity, gas, steam and air conditioning supply, Water supply, sewerage, waste management and remediation activities, Transportation and storage, Telecommunications, Public administration and defence; compulsory social security)
-
Sources:
