Dec 19 (Japan Today) - Japan will tighten regulations to prevent technology giants including Facebook Inc and Google from abusing their market power and having unfair advantage over small businesses, officials said on Tuesday.
The new law would oblige tech giants, including Google LLC, Apple Inc, Facebook Inc and Amazon.com Inc to disclose the terms of contracts with customers and to report to the government about their operations, they said.
Japan's move followed the global trend - from the United States to Europe and Australia - of tightening the regulatory screws on the online platforms, which have policy makers scrambling to address concerns ranging from anti-trust issues to the spread of "fake news" and hate speech.
Google and Facebook have opposed tighter regulation, while traditional media owners, including Rupert Murdoch's News Corp, have backed reform.
