Amid concerns about predatory acquisitions of weakened companies and strategic assets during the COVID‑19 crisis, more and more countries are restricting foreign direct investment (FDI) in their domestic companies, especially in the medical and healthcare industries. These restrictions tend to target Chinese investment in particular. Japan is no exception. On April 22, 2020, the Nikkei reported that the Japanese government appears to be moving in a direction to “add advanced medicine and medical equipment businesses to the list of sectors deemed critical to national security” under the revised Foreign Exchange and Foreign Trade Act (FEFTA, or, the “Act”).
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