The Argument is a feature dedicated to promoting dialogue and deeper understanding of contentious issues by introducing various viewpoints.

Last month, the Diet passed legislation that amended the Foreign Exchange and Foreign Trade Control Law. The revisions are essentially aimed at ensuring that Japan's foreign investment regime cannot be exploited by foreign actors that may endanger its national security.

Some will insist these changes are overkill and will smother Japan's attractiveness as a destination for foreign investment. This line effectively posits that Japan is weakening its opportunities to investors through new rules that — while enacted with a solid purpose of protecting against threats to national security — will undermine and overly scrutinize legitimate investment.