Japan's govt. prepares bill to fine IT giants that hinder market competition

Source: NHK

The Japanese government has drawn up a bill that fines tech giants that obstruct other companies from competing in the market.

Firms such as Apple and Google hold dominant positions in areas such as smartphone operating software and app stores. There are concerns that this hinders new firms and raises the cost of companies that use the services.

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Based on the bill firms will face restrictions in the areas of smartphone operating software, app stores, internet browsers and search engines, and list prohibited acts. The acts include preventing the use of app stores and payment systems run by other firms, and forcing unreasonable practices on other firms in business transactions.

Designated firms will be required to report on their compliance with the restrictions every fiscal year. Firms that don't comply will be fined an amount equal to 20 percent of their sales in Japan. That's more than three times the fine for obstructing another firm's business under the current antitrust law. Firms that continue illegal practices face a fine equal to 30 percent of their sales.

Read more: https://www3.nhk.or.jp/nhkworld/en/news/20240416_22/