Japan is defenceless against foreign activist investors taking over sensitive technology companies such as Toshiba because domestic shareholders do not step up in a crisis, according to the country’s former economy minister.
Akira Amari, a powerful figure in the ruling Liberal Democratic party who heads its policy group on semiconductors, said Japan’s private sector had “zero awareness” of its importance to national security.
Amari made the comments as Japan considered a tightening of export controls and rules on foreign investment amid growing tensions between the US and China over semiconductor technology.
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