The government said Wednesday it plans to submit a bill to the Diet next year to regulate global and domestic technology giants amid concerns some are stifling fair competition due to their overwhelming market share.

The bill to enhance transparency in the business transactions of tech firms will be presented to the ordinary Diet session to be convened in January, according to a draft economic growth strategy shown to a governmental panel. The Cabinet of Prime Minister Shinzo Abe is expected to adopt the strategy later this month.

The draft says major tech firms, referred to as "platformers" in Japan as they provide digital infrastructure or platforms for the sale of products and services, could disadvantage smaller business partners by unilaterally forcing contract terms and rules on them, and having them shoulder excessive costs.