The government on Friday submitted two bills to the Diet aimed at making it easier for private companies to restructure.
The government hopes to have the two bills enacted during the current Diet session, which ends in mid-June, and put into force this fall, according to a government official.
The bills, an amendment to the Commercial Code and a bill stipulating working conditions in the case of corporate restructuring, are intended to make it easier for companies to get rid of unprofitable operations by spinning them off into different companies.