Reuters News ReportIt pointed out that the Japan Fair Trade Commission will formulate new laws to require companies including Apple, Google, and Amazon to influence the development of Japanese companies through the scale of their platforms.
The Japan Fair Trade Commission (JFTC) announced that it will require these large overseas companies operating large-scale platform businesses to clearly disclose the terms of use of their services with users through the new law, and also to disclose the details of their service operations to the Japanese government. However, the JFTC did not publicly disclose the details of the disclosures these overseas companies must submit to the government.
In addition to requiring platforms to operate transparently and provide operational details to the government, the Japanese government will also amend laws related to personal information protection to require platform operators to provide users with the option to cancel the use of personal data at any time, thereby ensuring the privacy and security of personal data.
Japanese Economy Minister Yasutoshi Nishimura believes that the new law will be able to regulate overseas companies operating platform services in Japan to maintain transparency and fair market competition, thereby reducing the challenges faced by local businesses in developing competition.
However, the Japanese government currently still hopes that these overseas companies can exercise self-regulation, rather than forcibly preventing overseas companies from developing too strongly in Japan through legislation, which would restrict the freedom of market development and even cause local businesses to experience slower growth due to the lack of external competition.
