Japan teams up with the US and Europe to control the work of IT giants | FREE NEWS

Japan teams up with the US and Europe to control the work of IT giants

Japan will join forces with the United States and Europe to counter any market abuse by four major technology companies. This was announced today by the new head of the Japanese antimonopoly authority.

Kazuyuki Furuya, chairman of Japan’s Fair Trade Commission, said Tokyo could launch an investigation into every merger or merger that could happen with fitness tracker Fitbit, for example. This is provided that the size of such transactions is large.

If the size of any merger or business combination is large, we can initiate an antitrust investigation into the buyer’s acquisition of a startup like Fitbit. We are closely following the development of events, including in Europe.

Kazuyuki Furuya, Chairman of the Japan Fair Trade Commission

Thus, the country begins to regulate “platform operators”. Speech ideas, for example, about Google, Apple, Facebook and Amazon. A separate term GAFA is used for these companies, it is an abbreviation of the names of the companies. Sometimes Microsoft is added to them, then the abbreviation takes the form GAFAM.

Recall that the work of GAFA has been actively attracting the attention of the antimonopoly authorities for the last couple of years.

According to Furuya, GAFA and other multinationals have similar business practices around the world, making global regulatory coordination critical.

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