The scheme will not have a separate budget and will be subsidized by the savings of existing fertiliser assistance under schemes run by the Department of fertilisers.
The Japanese government has announced that it will limit foreign investment in nine more sectors deemed critical to national security, including semiconductors and storage batteries, starting on May 24, local media reported.
The other sectors to be added to Japan’s list of core areas in which foreign investment is limited include machinery and industrial robots, fertilisers, permanent magnets, metal 3-D printers and marine equipment, Xinhua news agency reported, citing a report by Kyodo News.
Under a law on foreign transactions, foreign investors purchasing a 1 per cent or more stake in a Japanese company will be subject to government prescreening if the target company is included in any of the designated core sectors.
The addition means all designated critical materials will now be covered and foreign ownership of firms dealing with such products will be subject to government scrutiny, Kyodo News said.