Japan's new Prime Minister, Sanae Takaichi, will push for the establishment of an official agency dedicated to monitoring overseas investments and acquisitions for security risks. This agency will be modeled after the Committee on Foreign Investment in the United States (CFIUS), serving as Japan's equivalent of the foreign investment review mechanism. The joint policy goals announced this week by the Liberal Democratic Party (LDP) and the Japan Restoration Party include plans for a Japanese CFIUS, with the goal of securing approval for its establishment before the end of next year's regular Diet session. High-profile CFIUS reviews in the United States include Nippon Steel's planned acquisition of U.S. Steel in 2023 and Broadcom's $117 billion hostile takeover of Qualcomm in 2018, which collapsed due to the committee's intervention based on national security concerns.