The amendments expand the industries covered by the prior notification and waiting period requirement, and broaden covered foreign investment-related activities.

In 2019, the Japanese government announced three key amendments to the Foreign Exchange and Foreign Trade Act and related regulations (collectively, FEFTA), two of which have since taken effect. Collectively, these regulations will impose more rigorous regulation of foreign investment in Japan. Foreign investors considering investing in Japan should be aware of these changes and the impact on potential investments.