Only about 30% of Japanese companies have taken substantive measures to ensure economic security, such as diversifying procurement sources and strengthening cybersecurity.
A government paper released on May 29 shows limited action by Japanese firms on economic security.
Only around 30% have implemented steps including diversifying procurement sources and bolstering cybersecurity.
The findings point to ongoing issues in supply chains and manufacturing.
Japan has joined a list of countries shifting towards offensive cyber operations. This development comes as cyberattacks are said to have a huge impact on people’s lives and economic activities. Offensive cyber operations are becoming the norm.
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The Japanese government has asked Asian private equity firm MBK Partners to halt its acquisition of machine tool maker Makino Milling Machine, citing national security concerns. Finance Minister Satsuki Katayama told parliament that the ministry determined the deal risks undermining security due to Makino's role in defense equipment production. This is only the second such case under foreign investment laws.
China has implemented a new supply chain security regulation that elevates protecting industrial and supply chains to a national security issue, granting officials power to punish entities threatening vital resources. The 18-point regulation was passed and took effect on March 31, with its full text published on Tuesday. It comes as Beijing faces a turbulent global outlook.