Japan

  • Editorial

  • Introduction

    Interview: Foreigners see opportunities in Japan's financial troubles Fumitaka Eshima, managing director and head of legal at UBS in Japan, tells IFLR how the financial problems at the country's banks and corporates are providing opportunities for foreign investors and their advisers

  • Introduction

    Making Japan's high investment targets a reality Without speedy reform and deregulation, and improved laws and simplified procedures for foreign investment, the Japanese government will find it difficult to meet the target it has set itself

  • Corporate reorganization

    The new way to rehabilitate distressed companies in Japan The Civil Rehabilitation Law has created opportunities to use M&A techniques as tools for corporate reorganization and restructuring using legal insolvency procedures. By Yuichiro Mori

  • Corporate defence mechanisms

    Japanese companies test defences to hostile takeovers Directors of Japanese companies are starting to consider corporate defence mechanisms such as allying with friendly third parties and using poison pills to block a hostile takeover bid. By Laurent Develle and Etsuo Doi

  • Leveraged finance

    Momentum builds towards leveraged finance surge in Japan Japan's legal framework makes leveraged buyouts tricky to complete, yet careful structuring has meant these transactions are growing in popularity. By John McClenahan and Ken Kiyohara

  • Cash-out transactions

    Japan moves towards allowing squeeze outs of minority shareholders The flexible approach being shown towards Japanese corporate practices means transactions to cash-out minority shareholders are becoming possible. By Gaku Ishiwata

  • Private equity

    Japan offers hope for buyout funds Efforts to improve the legal and regulatory environment for venture capital and other private equity investments in Japan are likely to reward those financial institutions that have remained committed to the market. By Ted Johnson and Yoji Maeda

  • Employment issues

    Companies prepare employees for life after retirement Companies in Japan are looking at new investment schemes to ensure employees have enough money in their pension funds when they retire. By Hideki Thurgood Kano and Wakako Sekiyama

  • Disclosure reforms

    Tougher disclosure regime upgrades Japanese markets The Japanese government has been improving both the information flow and accessibility for investors in its public and private capital markets, in line with global best practices. By Hiroyuki Ishizuka and Yutaka Kitamura

  • Greenshoe options

    How greenshoe options have developed in Japan Underwriters have only recently begun to use greenshoe options in public offerings in Japan. Significant legal reform has occurred in this area, but some changes are still required say Miyuki Ishiguro and Shinichi Araki

  • The Sarbanes-Oxley Act

    Japanese issuers grapple with Sarbanes-Oxley Following the passage of Sarbanes-Oxley, most Japanese reporting companies are taking affirmative steps to comply with the new US corporate governance requirements. By Masahisa Ikeda, Isamu Watson and Satoko Kato

  • Trusts and trust banking

    Expanding the use of trusts and trust banking in Japan Trusts are being used in increasingly new ways as legal and regulatory developments give practitioners more certainty. By Jeremy Pitts, Shinji Toyohara and Gavin Raftery

  • JReits

    Overcoming the risks of choosing real estate for investment trusts Real estate investment trusts are being careful not to stunt the young but growing market by buying unsuitable and risky property to add to their portfolio, say Shunpei Tanaka, Kenji Utsumi and Mami Ikebukuro

  • Corporate taxation

    New US-Japan tax treaty offers investment boost Less withholding tax on royalty, dividend and interest income on investments between the US and Japan will ensure bilateral economic relations grow even stronger, says Atsushi Fujieda

  • Securities compliance

    Securitizations place compliance burden on arrangers Compliance is one of the key concerns for securities companies involved in securitization transactions. By Akihito Katayama and Yuri Suzuki

  • Securitization trends

    How insolvency and trust reforms will clear a path for securitization Securitization in Japan will flourish once changes to bankruptcy and trust laws remove doubts over judicial interpretation. By Masayuki Okamoto, Shigeru Kaneko and Mark Keeler

  • IP securitization

    Securitizing intellectual property in Japan To encourage more Japanese companies to use their intellectual property to secure funding, the government must put in place suitable legal, disclosure and valuation frameworks, says Takahiro Kobayashi

  • Cayman Islands vehicles

    Why the Cayman Islands is good for Japanese structured finance Using Cayman Islands vehicles for Japanese securitizations brings originators and arrangers the benefit of a user-friendly jurisdiction. By Philip Paschalides and Heather Bestwick

  • Irish offshore structures

    Irish financial services developments attract Japanese players Recent changes to the regulation of investment funds and securitization deals in Ireland make the country an attractive domicile for Japanese promoters, arrangers and investors, say Mark Thorne and Conor Houlihan