On 24 April 2020, JPN GVT published feedback associated with the public consultation.

• It also published updated presentation on the matter in Japanese and English.
• Amended definition closely-related persons, so that a person who was a foreign investor's board member in the past year is excluded from the definition, if the nomination of the person to the investee company's board is made by a third party.
• If a financial institution's (FI) M&A advisory service obtained confidential technology-related data/requested for such data, the relevant conduct will now not constitute a breach of the exemption condition if it had measures in place to prevent data leakage.
• Investors are not required to specify ministers responsible for business sectors in the post-investment report on stock purchases (under 10%) with exemption in designated business sectors, and the same now applies re non-designated business sectors.
• Stated the Cabinet approved the relevant cabinet order, for promulgation on 30 April 2020.
• The amended act and related rules will be effective 8 May 2020 and 7 June 2020 respectively.
• In addition, it drew attention to the ongoing consultation on factors to be considered by the Ministry of Finance, etc., on prior notice re inward FDI and specified acquisition.