Business | Apr 18

New Bill to Penalize IT Giants

TOKYO, Apr 18 (News On Japan) - The Japanese government plans to impose fines of 20% on domestic sales of major IT companies like Apple and Google to curb monopolistic practices such as hindering new entrants in the smartphone app market.

The penalty exceeds the existing antitrust laws by threefold and could be increased to 30% if no improvements are seen. The bill also includes provisions that mandate the opening of app stores and payment systems and prohibit the preferential display of their own services. The government aims to pass the bill in the current session of the legislature.

Source: テレ東BIZ

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