Mar 22 (the-japan-news.com) - Prime Minister Shinzo Abe is considering abolishing a regulation that limits the percentage of foreign equity stakes in broadcasters, as part of a debate about reviewing regulations on broadcasting businesses.
The Broadcast Law and other laws ban foreign entities from obtaining stakes in a broadcaster that exceed 20 percent. Foreign stakeholders are therefore not allowed to exercise more than 20 percent of voting rights at shareholders meetings of broadcasters.
The regulation was prompted by the fact that broadcasters also report the news, and therefore companies have the potential to significantly influence public opinion.
If the regulation on foreign entities is abolished, it is feared that companies from other countries, for example China, will buy Japanese broadcasters and have them air propaganda content that is favorable to their country. If this happens, the situation could become a problem affecting Japan's national security.
Calls have also continued for the introduction of a system to auction off radio wave frequency bands. Such a system would give companies that present the highest bid the right to use the allocated bands.
