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ECONOMY > Finance

Lower House financial committee approves bill to revise foreign exchange law

The Committee on Financial Affairs of the House of Representatives unanimously approved on Nov. 13 a bill to revise the foreign exchange law in order to tighten restrictions on foreign investment in Japanese firms whose products and services could potentially affect national security. The bill focuses on setting tougher standards for the share ownership ratio of foreign investors subject to the requirement to submit prior notification from the current more than 10% to more than 1%.


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