On May 11, 2022, the Diet of Japan approved the “Act on the promotion of national security through integrated economic measures.” Key features of the Act include the establishment of (i) a system to ensure stable supplies of critical materials, (ii) a system to ensure stable provision of services using critical infrastructure, (iii) a system that supports the development of critical technologies and (iv) a secret patent system. The Act will enter into force on or before 18 February 2023.
On May 1, 2022, the amendment to the Ministerial Ordinance for Exporter Standards and relevant administrative notices (the “Amendment”) came into force. Upon enforcement of the Amendments, so-called “Deemed Exports” will be interpreted in a more restrictive manner than previously. Although export licenses were not required for the provision of technology information between Japan residents, pursuant to the Amendment, if certain conditions are met, such provision may be regarded as a “Deemed Export” and subject to an export license under the Foreign Exchange and Foreign Trade Act
On April 28, 2021, the House of Councilors of Japan approved the Regional Comprehensive Economic Partnership Agreement (RCEP), nearly completing the ratification process that began with RCEP’s approval by the lower house of the Diet on April 15. Japan is expected to formally deposit its ratification instrument with the ASEAN Secretariat after a few remaining internal procedures.