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