TOKYO Jiji Press - The ruling Liberal Democratic Party on Friday gave the go-ahead for a bill that allows the government to temporarily acquire defense equipment production facilities of companies that have difficulty staying in business.
After the approval of the National Defense Division and Security Research Commission in a joint meeting, the government will introduce a bill by the end of the month, at a time when an increasing number of defense equipment manufacturers are pulling the plug on the business due to low profitability.
The revised three national security policy guidelines underscore the need to support the country's defense industry.
The government aims to keep the domestic supply chain for equipment used by the Self-Defense Forces by temporarily nationalizing output facilities of non-viable suppliers and letting peers operate the facilities until their buyers are found, as part of the proposed legislation.