Shinichi Tatebayashi (CEO of Squeeze) joins the stage and discusses impact of new regulations. It was shocking to have cancellations with new regulations, but long-term will not be a problem since the driver for tourism is experiences, not lodging.
New law has pushed illegal properties off the international platforms. AirBNB shrunk from 50,000+ to 10,000 properties as of this month. 3,728 applications under new law, with only 1/3 have been accepted. 52 out of 150 local governments have imposed limiting regulations.