Major banks are considering agribusiness as a potentially lucrative business sector if use of farmland is deregulated.
Proposed amendments to the Agricultural Land Law now in the Diet would allow a corporation to take a 25 percent stake in a farming operation instead of the current 10 percent, a measure that could make it easier to raise funds when a highly creditworthy company is involved in the farm business.
The proposed changes would also allow a corporation to lease farmland for 50 years, up from the current 20 years.