ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Japan moves to spur growth in fintech sector

TOKYO -- Legislation aimed at aiding growth in Japan's financial technology sector passed the Diet Wednesday, paving the way for banks to acquire technology-driven startups.

Currently, banks are not allowed to own more than 5% of nonfinancial companies. The cap is set at 15% for bank holding companies. The revision to the Banking Law eases this rule, pending case-by-case government authorizations, if the funds are directed toward enhancing financial services through the use of information technology.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more