TOKYO - A vast majority of Japanese firms back the government’s recent decision to tighten reporting requirements for foreign investment in industries related to national security, a Reuters poll found, despite criticism from overseas investors.
The move, reflecting concern that China could gain access to key technology and confidential information, followed similar steps taken by the United States and Europe in recent years to allow greater scrutiny of ownership in industries deemed as critical to national security. A manager at an electrical machinery maker, however, wrote: “It’s difficult to clarify a definition as it’s associated with national security. It would hamper corporate efforts to boost its corporate value, which could run counter to government policy to lure foreign investment.”
“The survey results reflect sluggish foreign direct investment in Japan, as many Japanese firms are cautious about M&A and tie-ups involving foreign businesses,” said Koichi Fujishiro, senior economist at Dai-ichi Life Research Institute.
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