Japan urges fairer payment practices as promissory notes phased out
( September 3, 2026, 02:34 GMT | Official Statement) -- MLex Summary: The Japan Fair Trade Commission and METI’s Small and Medium Enterprise Agency said Wednesday they asked industry groups to shorten payment periods to within 60 days, use cash where possible and shift to electronic payments as Japan phases out promissory notes. The request comes ahead of a new antitrust rule taking effect in April 2027 that will impose a 60-day payment deadline on certain transactions outside the scope of Japan’s new subcontracting law, as well as the end of promissory-note and check exchanges in March 2027. Financial institutions were also urged to provide flexible cash-flow support and help businesses transition smoothly to electronic payments.Statements are attached (in Japanese)....
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