Japan plans to revise its Foreign Exchange and Foreign Trade Act (FEFTA) to strengthen national security screening of foreign investment, with the Cabinet expected to approve amendments as early as next week, according to South Korean media reports citing Japan’s Yomiuri Shimbun newspaper. The revisions would establish a new government committee to review foreign investment cases involving sensitive industries, with participation from the finance ministry, the Ministry of Economy, Trade and Industry and the National Security Secretariat.

The committee would assess investments involving companies operating in sectors deemed important to Japan’s economic security and could require advance reporting or approval