Japan's Hydrogen Society Promotion Act, which came into effect on October 23, 2024, represents the country's first legislation regulating businesses related to hydrogen and its derivatives. The Act focuses on promoting the use of low-carbon hydrogen and its products, with schemes like the Support Focusing on the Price Gap (CfD Scheme) and the Support for the Development of Hubs (Hub Support Scheme) providing subsidies to approved businesses. These subsidies aim to bridge the price gap between traditional fuels and low-carbon hydrogen and support the development of necessary infrastructure. Additionally, the Act offers special regulatory arrangements for approved applicants under various laws. The approval process for business plans will be overseen by METI, with applicants required to submit detailed information electronically through the government's portal. JOGMEC will handle the subsidies application process, with guidelines expected to be released soon. The Act's implementation is viewed positively, signaling Japan's dedication to achieving carbon neutrality and creating a conducive environment for hydrogen development. The Act's subsidies are anticipated to have a significant impact on both domestic and international market participants and investors, encouraging growth and innovation in the hydrogen sector. Businesses interested in applying for subsidies under the CfD Scheme or the Hub Support Scheme will need to familiarize themselves with the process outlined by METI and consider consultation options for a smooth application experience. The Act's enforcement marks a crucial step towards a sustainable future, aligning Japan with its decarbonization goals.