Foreign Exchange and Foreign Trade Act.

The purpose of this Act is to ensure that international transactions develop normally and that peace and security are maintained in Japan and the international community through the implementation of the minimum necessary controls and coordination for international transactions, under the basic principle of free engagement in foreign exchange, foreign trade, and other such international transactions; and in doing so, to help achieve balance of payments equilibrium and currency stability and also to contribute to the sound development of the Japanese economy.
The Minister of Finance shall determine and publicly notify the basic exchange rate of Japanese currency and the arbitrated exchange rate of a foreign currency to Japanese currency. Export of goods shall be permitted under the minimum restrictions insofar as it conforms to the purpose of this Act. Any person who intends to conduct the export of specific kinds of goods to specified regions, which is specified by Cabinet Order as being considered to obstruct the maintenance of international peace and security, shall obtain, pursuant to the provisions of Cabinet Order, permission from the Minister of Economy, Trade and Industry. For the purpose of achieving the sound development of foreign trade and the national economy, sincerely fulfilling obligations under the treaties and other international agreements Japan has signed, making Japan's contribution to international efforts for achieving international peace, or implementing a cabinet decision set forth in Article 10, paragraph 1, any person who intends to import goods may be obliged to obtain import approval pursuant to the provisions of Cabinet Order.
The Act further makes provisions, inter alia, for: capital transactions for which the obligation to obtain permission from the Minister of Finance is imposed, restrictions on payment, reporting, offences and penalties.