There are no current limits on the amount that can be contributed to legislative candidates.
Money can be given to charities, contributed to candidates or transferred to political parties.
But the ban on corporations contributing to candidates has been in effect since 1907.
The companies, he said, had contributed $6.4 million to Republican candidates since 1999.
Federal law does not permit foreign residents to contribute directly to candidates.
The industry has contributed more than $53 million since 1990 to congressional and presidential candidates.
Japanese companies would be barred from contributing money to political candidates, the new Government proposed.
Since 1988, however, he has contributed almost $73,000 to conservative, Republican candidates and causes.
"I don't think it's a serious problem at all," he said of the millions contributed to legislative candidates.
Q.And yet you contributed over $100,000 to various political candidates?