Airbnb finally getting the nod in room-starved Japan

Tokyo

AIRBNB Inc is finally getting the green light to do business in Japan after years of operating in grey areas of the law.

Prime Minister Shinzo Abe's cabinet approved rules on Friday that limits home-sharing by private citizens to 180 days a year, according to the final draft of the legislation. The bill, which also leaves room for local authorities to impose their own restrictions, is now submitted for deliberation and approval by Japan's parliament.

Airbnb, which just closed a US$1 billion funding round that valued the company at US$31 billion, has found a more receptive audience in Japan, compared with the clashes it had with municipal governments in New York, Barcelona and its home town of San Francisco. A tourism boom has cut into the supply…