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ECONOMY

Trade Minister Seko comments on Westinghouse

  • March 31, 2017
  • , NHK
  • JMH Summary

NHK reported that Minister for Economy, Trade, and Industry Seko said discussions on Westinghouse should be held without affecting the ongoing construction of four nuclear reactors in the U.S. Seko reportedly told reporters after a cabinet meeting today: “I hope that Westinghouse, Toshiba, and the U.S. electric utilities that ordered the construction of nuclear reactors will hold cooperative discussions and produce constructive results.” On Toshiba’s semiconductor business, which the company is trying to sell, Seko reportedly said: “Foreign investment in Japanese companies that manufacture sensitive products will be subject to rigorous screening based on the Foreign Exchange Law. If deemed necessary, we will be able to recommend or mandate that the investment be altered or suspended.” He also reportedly said the GOJ will take strict measures to prevent the transfer of technology to other countries from a security standpoint, saying: “If the bill to revise the Foreign Exchange Law is passed by the Diet, we will be able to retroactively order the sale of stocks obtained through illegal investment.”

 
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