Japan has reportedly looked into dozens of ways to counter a South Korean court's planned sale of assets belonging to a Japanese firm that refused a court order to compensate Korean victims of wartime forced labor.

According to Japanese daily Mainichi Shimbun on Wednesday, some 40 measures have been considered by Tokyo, including raising tariffs on South Korea, suspending visa issuance, and summoning its ambassador from Seoul.

Tokyo is reportedly also looking to request that Seoul compensate the firm in question for damages or taking the case to a mediation court in a third country in accordance with a bilateral investment pact signed in 2003.

Earlier, another Japanese daily The Nikkei speculated that Tokyo may take action through the International Court of Justice(ICJ) or the World Bank's International Center for Settlement of Investment Disputes(ICSID).

Based on a 2018 Supreme Court ruling, the Daegu District Court, as of Tuesday, is able to proceed with the liquidation of some of Nippon Steel Corporation's stake in PNR, a joint venture established with South Korea's top steelmaker POSCO. 

Nippon Steel, however, has said it will make an appeal, a move expected to delay the judicial process.