On Monday, Japan reported that it would join the United States and Europe as a regulatory body for big technology companies’ digital platforms.
According to Japan’s Fair Trade Commission’s (FTC) Chairman Kazuyuki Furuya, Tokyo could open a probe into any business merger or tie-up if it is a big size deal.
“If the size of any merger or business-tie up is big, we can launch an anti-monopoly investigation into the buyer’s process of acquiring a start-up like Fitbit (FIT.N),” Furuya said in an interview with Reuters.
“We’re closely watching developments including in Europe,” he added.
In August 2020, European Union (EU) antitrust regulators filed an investigation into a $2.1 billion acquisition deal of Alphabet’s (GOOGL.O) unit to purchase Fitbit. The American multinational conglomerate company stated that it aims to beat Apple (AAPL.O) and Samsung (005930.KS) in the technology industry.