Canon Inc. will resume donations to political parties if an amendment to the political funds control law clears the Diet, company President Fujio Mitarai said Thursday.

“Our company perceives political donations as a type of contribution for the good of society,” he said at a news conference.

Mitarai is set to chair the board of the Japan Business Federation, or Nippon Keidanren, the top business lobby, on May 24, so his remarks could affect the attitudes of other companies on the issue.

The current law bars a company from making political donations if the combined equity stake held by foreign investors tops 50 percent.

Canon stopped making political donations in 2004, when foreigners’ combined stake in the company topped 50 percent.

The proposed legislation would remove the ban if a company has its head office in Japan and if it is listed on a Japanese stock exchange.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.