Chinese Premier Li Keqiang and Japanese Prime Minister Shinzo Abe (left) visit a Toyota Motor group factory in Tomakomai on Japan's northernmost main island of Hokkaido in May 2018. Photo: Kyodo
SCMP/Reuters: Japan puts Toyota, Sony and 516 other firms on ‘national security’ list to counter China risk, foreign raiders
* Foreigners buying 1 per cent or more in core firms face tighter investment scrutiny, versus previous threshold of 10 per cent
* Japan takes step in line with measures adopted by US, Europe and others to counter China security risk
Japan has put out a list of companies subject to tighter foreign ownership rules, including majors such as Toyota Motor Corp and Sony Corp, joining the US, Europe and elsewhere in stepping up scrutiny of industries considered key to national security.
Japan identified 518 of its roughly 3,800 listed firms on its US$5.4 trillion stock market as having operations core to national security, making them targets for stringent regulations, according to a list released by the Ministry of Finance.
The tighter rules covering foreign investment in a dozen sectors crucial to national security, such as oil, railways, utilities, arms, space, nuclear power, aviation, telecoms and cybersecurity, take effect from Friday.
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WNU Editor: Japan is doing this for one reason, and one reason alone. They do not want China to own a critical Japanese company.
