Tokyo, June 2 (Jiji Press)–Lawmakers of Japan’s ruling Liberal Democratic Party on Tuesday drew up an outline of a bill recognizing private companies’ ownership rights to resources collected in space, including on the surface of the moon, Jiji Press learned.
The outline was compiled by the party’s Special Committee on Space and Ocean Development.
Seeking cooperation from other parties, the LDP aims to submit the bill to the Diet, Japan’s parliament, as early as possible.
The bill is designed to make it easier for Japanese companies to join the international space development race, which is expected to heat up, sources familiar with the matter said.
In 2016, the Diet enacted the space activity law to promote rocket launches by the private sector. It sets an approval system for safety related to the launch of rockets and rules on compensation for accidents.
The United States and Luxembourg set laws recognizing ownership rights to space resources in 2015 and 2017, respectively.