The government on Tuesday designated four areas as special zones to promote new entry and expansion of domestic and foreign financial and asset management businesses and attract inflows of foreign investment to the country.
The government aims to develop the special zones for asset management businesses as financial hubs with deregulation measures such as allowing businesses to complete administrative procedures solely in English and introducing tax incentives, part of an effort to encourage the growth of local industries and startups.
The four areas are Hokkaido and its capital city, Sapporo, Tokyo, the prefecture and city of Osaka, and the prefecture and city of Fukuoka.