Encouraged by the successful alliance between Nissan Motor Co. and French automaker Renault SA, Japan will try to attract more foreign firms into the country as part of efforts to boost the economy.

Foreign firms and individuals hoping to strike it rich by investing in the world's second-largest economy will soon be hearing good news from Tokyo.

Japan is planning to launch a new program to attract more foreign investment this year in a move that experts say will make it significantly easier for foreign companies to set up businesses in Japan.