Tokyo: The Japanese government on Wednesday held the first meeting of an expert panel to discuss rules on land acquisitions by foreigners, aiming to compile a basic policy by summer. "We want the experts on national security, international relations, and land policy to deepen discussions on regulations" on the matter, Chief Cabinet Secretary Minoru Kihara told a press conference.

According to Philippines News Agency, at the meeting, many members called for creating a certain level of regulations from a national security perspective. One suggestion was that the government should explain to the public why regulations are needed. A focal point is whether regulations should target only foreigners and whether the government should introduce a permit system or a reporting system. The government also plans to survey foreigners' purchases of condominiums and consider introducing countermeasures if needed through the panel.

The panel is led by University of Tokyo honorary professor Akira Morita and includes nine other members, such as Shigeru Kitamura, former secretary-general of the National Security Secretariat, and former Vice Defense Minister Tetsuro Kuroe. Concerns have been raised about land acquisitions by foreigners because the owners and purposes are unclear in some cases. Land purchases for speculation are also a source of anxiety.

The coalition agreement between the ruling Liberal Democratic Party and its partner, the Japan Innovation Party, includes a plan to draw up legislation to enhance regulations on land acquisitions by foreigners.