(Bloomberg) -- Japan’s government aims to lift a requirement for entrepreneurs to pledge personal assets as security when raising initial funding for start-ups, the Nikkei newspaper reported.
The draft plan is part of Prime Minister Fumio Kishida’s so-called new form of capitalism concept, the Nikkei reported, without saying where it got the document citing the proposal. Banks and credit guarantee firms will be asked to drop asset pledging to make it less onerous for people to start businesses, the newspaper said.
The plan also aims to require companies to disclose gender pay gaps, the newspaper reported. Also proposed is the investment of 150 trillion yen ($1.2 trillion) over the next decade on decarbonization efforts and the issue new green economy transformation bonds under the plan, the report said.
Additionally, the draft calls for household asset income to be doubled by encouraging people to channel their savings into investments, the Yomiuri newspaper reported separately. The proposal will be submitted to a government panel on May 31, with approval by Kishida’s administration expected in early June, the report said.