- DEFENSE & SECURITY
LDP OKs Bill to Nationalize Defense Equipment Factories
9:30 JST, February 5, 2023
TOKYO (Jiji Press) — The ruling Liberal Democratic Party on Friday gave the go-ahead for a bill to allow the government to temporarily acquire defense equipment production facilities of companies having difficulty staying in the business.
Following the approval at a joint meeting of the party’s National Defense Division and Security Research Commission, the government will introduce the bill by the end of this month, at a time when an increasing number of defense equipment manufacturers are pulling the plug on the business due to low profitability.
The revised three national security policy guidelines underscore the need for supporting the country’s defense industry.
With the envisaged legislation, the government aims to maintain the domestic supply chain for equipment used by the Self-Defense Forces, by temporarily nationalizing output facilities of non-viable suppliers and letting peers operate the facilities until their buyers are found.
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