Japan plans to tighten regulation of tech firms
TOKYO: Japan is planning to tighten regulation of tech giants like Google and Facebook after an expert panel called for better oversight on competition and privacy, an
Japan has followed in the footsteps of other countries in scrutinising the dominant role played by the world’s largest information technology companies, including Big Four tech
and Amazon.
The government has now issued a report based on expert opinion that urges new regulatory oversight plans by next year.
giants “tend to monopolise the market through their features such as... low costs and economies of scale,” the report said.
It calls for better protection of consumer privacy and for more fairness and transparency from
control market access. “Based on the report, the gov-
principles for new regulations” in the next two weeks, a trade minis-
Japan’s anti- trust authorities have already said they plan a probe
business models. They have formally organized themselves and sustained their businesses through several expansions, changes in strategies, and increases in market demands.
Access to funds
As with all other businesses, one of the major concerns of SEs is accessibility to funding source. It is more pressing in this sector as it needs to highlight both social
to potential funders or investors. In addition, most banking and
for SEs.
Limited access to funds means hampering growth and expansion, slowdown in implementation of plans and strategies, and weakening support to their chosen
In the Philippines, there are public and private organizations, both local and international, that are willing to provide capital or funds to SEs. The most common sources of funding, according to the 2017 study published by the British Council and PhilSen, are cash or donations in-kind, grants from foundations, and government funding. Other available
investment and ‘angel investors’ — mostly individuals. - is the documentary requirements
- nancial reporting system in place. Another challenge is the natural using their market leader positions to exploit contractors or obstruct competition.
Japan’s decision to tighten regulations comes as European authorities crack down on US tech giants.
Earlier this year, the European Union issued a record 4.34 billion
Google, accusing it of using the Android system’s huge popularity to promote its Google search engine and shut out rivals.
Google has appealed the decision, arguing that the EU’s accusations were unfounded, but said last month it would comply with the decision in order to avoid
And the European Parliament in September approved a controversial EU copyright law that hands more power to news and record companies against internet behemoths like Google and Facebook,