On July 17, 2018, the Personal Information Protection Commission of Japan and the European Commission reached a final agreement to establish a framework to easily transfer personal data between Japan and the EU. They also decided to complete the necessary procedures in each country to recognize each other's personal data protection systems as equivalent by the fall of 2018. At present, it is generally necessary to fulfill the strict requirements of the Act on the Protection of Personal Information in Japan or the General Data Protection Regulation to transfer personal information between Japan and the EU. Once the procedure has been completed in Japan and the EU, transferring personal data between Japan and the EU will be deemed to be equivalent to a domestic transfer, thus easing transfer requirements. Since business between Japan and the EU will likely increase thanks to the Japan-EU EPA (please see "Japan Signs Economic Partnership Agreement with EU" above), this final agreement will contribute to the development of such business by reducing the requirements for transferring personal data between Japan and the EU.