Update
Anime and Manga Regulation Bill passed the assembly on December 15th.

Source: Niconico News
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According to the official blog of Ito Masaki, one of the members of Tokyo Metropolitan assembly, the ruling party DPJ has decided to approve the anime and manga regulation bill. Other two major parites have already approved the bill, so it will pass the assembly on December 15th. DPJ agreed with the bill on condition that the resolution will be made with a collateral claim for a careful operation of the regulation. However, the collateral claim is not legally binding. The regulation will be enforced on July 1st 2011.

Mangaka Takaku Shoko tweeted that one of the major publishers turned her manga down because one of the characters in a high school uniform could contravene the local ordinance of Tokyo. She was frightened to know that the bill has already made the industry flinch.

Mangaka Meiji Kanako tweeted that the re-release of one of her manga has been under deliberation because of the descriptions of minors' sex in the manga. She said she won't be surprised if it's canceled.

Sources: Ito Masaki's blog, Takaku's tweet, Meiji's tweet, Sankei, Mainichi, Yomiuri
Related topic: Ten Major Manga Publishers To Boycott Tokyo International Anime Fair


Note: Self-regulation of books including manga has been done by Publishing Ethics Council since 1963. Designation of adult manga is done by this council, which was established by publishers and distributors. The supporters of the regulation bill insist that the self-regulation is insufficient.