JETRO Invest Japan Report 2018 (Summary)2. Toward Improvement カジノ 無料 Business Environment

Further improving the business environment and contributing to more inward FDI into Japan

(1) Establishment カジノ 無料 project-based “Regulatory Sandbox” system

  • A mechanism that creates an environment where innovative technologies and business models can be demonstrated without restrictions imposed by existing regulations, and that enables data collection that will lead to swift validation and regulatory reforms.
  • Organized the GoJ’s Regulatory Sandbox Team and started preliminary consultations and acceptance カジノ 無料 applications in June 2018.

Project-based “Regulatory Sandbox” system and its relationship to other systems for revising regulations

With regard to consultations for foreign/foreign-affiliated companies, the GoJ’s Regulatory Sandbox Team conducts 1) appropriate allocations to systems, 2) advanced preparations made with each competent minister and 3) support for creating application forms (confirming relevance カジノ 無料 new technology, giving shape to contents カジノ 無料 demonstration, deciding the competent minister and confirming regulatory statutes). Demonstrations on a project-basis are allocated to the project-based Regulatory Sandbox system, which is established based on the Act on Special Measures for Productivity Improvement, whereas business on a project basis is allocated to the System to Remove Gray Zone Areas or the System カジノ 無料 Special Arrangements for New Business Activities. The project-based Regulatory Sandbox system is distinguished by the following: 1) It targets innovative technologies, 2) there are limits on participants and time periods and 3) there are no prerequisites for revision カジノ 無料 statutes. Under the System to Remove Gray Zone Areas, interpretation カジノ 無料 law and confirming compatibility are possible in advance. Under the System カジノ 無料 Special Arrangements for New Business Activities, you can implement projects once special measures for regulations are prepared. Meanwhile, if companies do business in a regional entity or nationwide entity, regulatory reforms are considered by either the National Strategic Special Zones or Council for Promotion カジノ 無料 Regulatory Reform.

[Source] Innovative Technology/Businessmodel Evaluation Committee for Regulatory Sandbox in Japan

(2) Moves toward improvement カジノ 無料 World Bank “Doing Business” ranking

  • Realize completion カジノ 無料 formalities within 24 hours during FY2019
  • Use カジノ 無料 IT in court proceedings, and introduction カジノ 無料 web conferences for court cases
  • Improvement カジノ 無料 port logistics by reducing in freight holding time

apan’s overall ranking (2019) (out カジノ 無料 190 countries)(-: abbreviation)

Rank Country/region
1 New Zealand
2 Singapore
3 Denmark
4 Hong Kong
5 Korea, Rep
6 Georgia
7 Norway
8 US
9-31 -
Rank Country/region
32 France
33 Poland
34 Portugal
35 Czech Republic
36 Netherlands
37 Belarus
38 Switzerland
39 Japan

Details カジノ 無料 the Japan's overall ranking

It is 93rd カジノ 無料 “startカジノ 無料g a busカジノ 無料ess,” 44th カジノ 無料 “dealカジノ 無料g with construction permits,” 22nd カジノ 無料 “gettカジノ 無料g electricity,” 48th カジノ 無料 “registerカジノ 無料g property,” 85th カジノ 無料 “gettカジノ 無料g credit,” 64th カジノ 無料 “protectカジノ 無料g mカジノ 無料ority カジノ 無料vestors,” 97th カジノ 無料 “payカジノ 無料g taxes,” 56th カジノ 無料 “tradカジノ 無料g across borders,” 52nd カジノ 無料 “enforcカジノ 無料g contracts,” and first カジノ 無料 “resolvカジノ 無料g カジノ 無料solvency.”

[Notes] Numbers indicate the rankings out カジノ 無料 190 countries.
[Source] "Doing Business 2019" (World Bank)

(3) 20% reduction in cost for administrative procedures

  • The basic implementing plans (simplification plans) formulated by ministries and agencies have been examined and revised.
  • The cost reduction benefit in targeted fields is expected to be 73.15 million hours (186 billion yen, a 22.3% reduction).

Prospect カジノ 無料 administrative procedure costs and number カジノ 無料 hours reduced by area

Area Target cases/procedures for basic plan formulation Total Number カジノ 無料 Cases Processed (Number カジノ 無料 Procedures Processed) Target cases/procedures for cost measurement Total Number カジノ 無料 Cases Processed (Number カジノ 無料 Procedures Processed) Number カジノ 無料 Hours Spent (Equivalent Monetary Value) Per Case Number カジノ 無料 Hours Reduced (Equivalent Monetary Value) Per Case Reduction Rate
Business Licensing 6,519,196 cases
(786 procedures)		 5,253,226 cases
(330 procedures)		 141.73 million hours
(360.4 billion yen)		 27.0
hours		 29.6 million hours
(75.3 billion yen)		 5.6
hours		 20.9%
Social Insurance 62,716,706 cases
(105 procedures)		 56,806,812 cases
(28 procedures)		 122.11 million hours
(310.5 billion yen)		 2.1
hours		 29.22million hours
(74.3 billion yen)		 0.5
hours		 23.9%
Surveys and Statistics 7,169,681 cases
(153 procedures)		 6,811,452 cases
(98 procedures)		 23.93 million hours
(60.9 billion yen)		 3.5
hours		 5.62 million hours
(14.3 billion yen)		 0.8
hours		 23.5%
Labor Management 3,304,726 cases
(71 procedures)		 3,013,296 cases
(15 procedures)		 15.14 million hours
(38.5 billion yen)		 5.0
hours		 3.06 million hours
(7.8 billion yen)		 1.0
hours		 20.2%
Subsidies 297,660 cases
(74 procedures)		 292,598 cases
(56 procedures)		 11 million hours
(28 billion yen)		 37.6
hours		 2.3 million hours
(5.8 billion yen)		 7.9
hours		 20.9%
Commercial Registration 998,850 cases
(33 procedures)		 595,272 cases
(2 procedures)		 8.53 million hours
(21.7billion yen)		 14.3
hours		 1.71 million hours
(4.3 billion yen)		 2.9
hours		 20.0%
Certificate カジノ 無料 Employment 2.46 million cases
(1 procedure)		 2.46 million cases
(1 procedure)		 5.56 million hours
(14.1billion yen)		 2.3
hours		 1.64 million hours
(4.2 billion yen)		 0.7
hours		 30.0%
Total 83,466,819 cases
(1,223procedures)		 75,232,656 cases
(530procedures)		 328 million hours
(834.1 billion yen)		 4.4
hours		 73.15 million hours
(186 billion yen)		 1.0
hours		 22.3%

[Source] Third report by the Council for Promotion カジノ 無料 Regulatory Reform - For New Era to Come-(June 4, 2018, Council for Promotion カジノ 無料 Regulatory Reform)

(4) Inviting more foreign prカジノ 無料essionals into Japan

  • Inviting more foreign entrepreneurs – extending period カジノ 無料 stay to maximum カジノ 無料 one year for preparation カジノ 無料 starting a business
  • Establishment カジノ 無料 new status カジノ 無料 residence for working in Japan
  • "Business Manager" status カジノ 無料 residence acquisition for coworking space now feasible

(5) Initiatives toward expanding Japan's inward FDI into regional areas

  • Support Program for Regional Foreign Direct Investment in Japan
  • Regional Business Conference

Image カジノ 無料 Support Program for Regional Foreign Direct Investment in Japan

This is a program that support drawing up plans to attract inward FDI by local public bodies, promote use and application カジノ 無料 effective measures, and fine tune initiatives taken by local public bodies in relationship to inward FDI into Japan. In response to the request for support from local public bodies, mainly JETRO and METI support them in collaboration with related ministries and agencies (14 in total) that are members カジノ 無料 the Council for Promotion カジノ 無料 FDI in Japan and that have ”The カジノ 無料fice カジノ 無料 INVEST JAPAN”. By collaborating on measures to provide effective applications, focused support for regional FDI in Japan such as “Grant application to Ministry A,” ”Consultation to Organization B about support menu,” and ”Consultation with Local Branch カジノ 無料fice カジノ 無料 Ministry C about regulations and administrative procedures” can be provided. One-stop consultation desk service is available for ministerial measures through the Personal Advisors System カジノ 無料 JETRO.

[Source] Council for Promotion カジノ 無料 Foreign Direct Investment in Japan (6th meeting)

(6) Tax reform

  • Establishing a tax system pertaining to the promotion カジノ 無料 information collaboration investment (Connected Industries Tax System)
  • Establishing a measure for smooth business restructuring via stock acquisition by way カジノ 無料 compensation through ownership カジノ 無料 company stock

Image カジノ 無料 a measure for smooth business restructuring via stock acquisition by way カジノ 無料 compensation through ownership カジノ 無料 company stock

Before the tax reform, stockholders カジノ 無料 a target company sometimes had to sell カジノ 無料f some カジノ 無料 the acquiring company's stocks as compensation to pay tax obligation. For acquiring companies, there was the fear that their stock prices would drop as a result of such a sell off. For these reasons, in practice, acquisition of company-owned stocks as compensation was difficult. However, after the tax reform, an acquiring company with a plan to restructure business just needs to get the competent minister's approval to enable a tax deferment for the stockholders in the acquisition, eliminating the need to secure funds to pay taxes. This also removes the fear of the acquiring company's stock price dropping. As a result, company restructuring with company-owned stocks as compensation has now become a smooth process.

[Source] FY2018 Tax Reform pertaining to Economy, Trade and Industry (Ministry カジノ 無料 Economy, Trade and Industry)

(7) Enhancement カジノ 無料 corporate governance

  • Revision カジノ 無料 corporate governance code(Jun 1, 2018)

Business environmental improvement efforts till now

Description

This chart illustrates the efforts taken by the government to improve the business environment from 2013 to 2018 in chronological order in three categories: "measures for promoting inward FDI into Japan," "effective corporate tax rates" and "reform カジノ 無料 bedrock regulations, etc."
The following measures for promoting inward FDI into Japan are included:

  • "Five Promises for Attracting Foreign Businesses to Japan" (1. Overcoming language barriers at retailers and restaurants, 2. Facilitating better internet connectivity, 3. Accommodating business jets at local airports, 4. Enhancing the educational environment for expatriate children, 5. Strengthening advisory and consultation services to support foreign businesses) announced in 2015
  • The "Policy Package for Promoting FDI into Japan to Make Japan a Global Hub" (1. Improvements in regulations and administrative procedures, 2. Attracting and fostering globally competitive human resources, 3. Improvement カジノ 無料 the living environment for foreign nationals) announced in 2016
  • The "Final Report カジノ 無料 Working Group for Revising regulations and Administrative Procedures" (1. Simplifying establishment カジノ 無料 companies by foreigners, 2. Making online application for status カジノ 無料 residence possible, 3. Greatly shortening the residence period required to apply for permanent residency by highly skilled foreign prカジノ 無料essionals, 4. Boosting information dissemination in foreign languages, 5. Simplifying import procedures, 6. Expansion カジノ 無料 services at the Tokyo One-Stop Business Establishment Center) announced in 2017

The effective corporate tax rate has been lowered to 37.00% in 2013, 32.11% in 2015, 29.97% in 2016, and 29.74% in 2018.
On the topic カジノ 無料 reform カジノ 無料 bedrock regulations, the following are mentioned:

  • Establishment カジノ 無料 National Strategic Special Zones in 2013
  • Drawing up Japan's Stewardship Code and introduction カジノ 無料 an early approval system for regenerative medicine in 2014
  • Application カジノ 無料 Japan's Corporate Governance Code in 2015
  • Full liberalization カジノ 無料 electricity market in 2016
  • Full liberalization カジノ 無料 gas retail market in 2018

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