The amendment to the species conservation law was approved unanimously at a plenary meeting of the House of Councillors. It cleared the House of Representatives last month.
The revised law will enable the government to delist businesses that conduct illegal trading of ivory products.
The current law imposes fines of up to ¥500,000 for ivory transactions made without prior notification, on both individuals and companies.
Under the planned registration system, the government will increase the punishment ceilings to ¥5 million or five years’ imprisonment for transactions by unregistered individuals, and ¥100 million for incorporated businesses that are not registered.