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Japan briefs U.S. on Rakuten’s partnership with Chinese rival 

  • April 15, 2021
  • , Nikkei
  • JMH Summary

Nikkei claimed that the GOJ has briefed the USG on major online retailer Rakuten’s decision to accept $2.2 billion in stock investment from Chinese tech giant Tencent based on the assessment that the Biden administration may be concerned about the deal. The GOJ has reportedly tried to obtain U.S. understanding by explaining that the Finance Ministry and other relevant authorities will invoke provisions of the Foreign Exchange Law and other statutes to check whether the Chinese company will try to access Rakuten’s data, information, and technology that are not open to the public. The paper said that as economic security will be high on the agenda during the upcoming U.S.-Japan summit, Tokyo is anxious to dispel Washington’s apprehension about the potential leakage to China of data and technical expertise with national security implications from Japanese businesses and academia.  

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