TOKYO -- Japan's ruling party is proposing to cover two-thirds of rent for small businesses for up to six months to help them survive a drop in revenue during the coronavirus outbreak.
The subsidy would start next month, with a monthly cap of 500,000 yen ($4,700) for small and mid-size companies and 250,000 yen for mom-and-pop operations, according to a proposal drafted Thursday. The ruling Liberal Democratic Party will discuss the plan with coalition partner Komeito on Friday before making a recommendation to Prime Minister Shinzo Abe.
