Japan picks Tokyo, Osaka, Fukuoka, Sapporo as special finance zones

TOKYO -- Japan is assigning four cities -- Tokyo, Osaka, Fukuoka and Sapporo -- as special financial business zones to attract investment managers and startups from abroad with simplified administrative procedures, Nikkei has learned.

The heads of the four cities are set to meet with Prime Minister Fumio Kishida at his office on May 31 to discuss the new "special zones for financial and asset management businesses." The Japanese government will then decide in early June on the details of the zones and support measures for them.