Financial Services Minister Kaoru Yosano warned high-profile fund manager Yoshiaki Murakami on Tuesday against expecting to have free rein in Singapore, where his core fund recently relocated.
"Singaporean laws are fairly stringent, so it is not a place like heaven," Yosano told a news conference.
The remarks by the nation's top financial regulator indicate apparent friction between the government and the shareholder activist, who is engaged in a private feud about management with the board of Hanshin Electric Railway Co. Murakami is the major stakeholder in the railway, which is trying to merge with another local railway.