Japan’s LDP Seeks to Keep Checks on Foreign Ownership of NTT
- Ruling party group to stop short of urging government selloff
- Debate has veered from initial aim of securing defense funding
Nippon Telegraph and Telephone Corp. (NTT) headquarters in Tokyo.
Photographer: Toru Hanai/BloombergThis article is for subscribers only.
A project team in Japan’s main ruling party is set to propose that controls on foreign ownership of Nippon Telegraph and Telephone Corporation be retained, even as it calls for abolishing a law regulating the former state monopoly.
The Liberal Democratic Party group will propose that the NTT law be rescinded in 2025, lawmaker Takayuki Kobayashi told reporters Friday. It is also set to advise that the government no longer be legally bound to hold one third of the shares, but will stop short of urging a selloff, Kobayashi said.