The IFLR guide to Japan 2009

  • Editorial

  • Foreign bank agency services scheme

    Masayuki Watanabe of Anderson Mori & Tomotsune outlines a recent amendment to the Banking Law

  • Directors' liabilities

    In light of a series of judgements for increased damages endorsed by the Supreme Court, Yoshinori Ono of Nishimura & Asahi offers an introduction to the position and responsibilities of directors under the Companies Act

  • Paperless share system and M&A

    Takashi Toichi and Yosuke Fujisawa of Anderson Mori & Tomotsune outline the Electronic Share Certificate System and how it works in relation to M&A involving listed issuers

  • The Electronically Recorded Monetary Claims Act

    Nobuyoshi Inujima and Kohmei Shimizu of Nagashima Ohno & Tsunematsu provide an overview of aspects of the new law

  • New trade initiatives

    Hideo Ohta, Tsutomu Hiraishi and Elizabeth Ticehurst of Baker & McKenzie GJBJ Tokyo Aoyama Aoki Koma Law Office (Gaikokuho Joint Enterprise) outline issues surrounding Japan’s emerging emissions trading market

  • Cross-listings of ETFs

    Kei Ito and Yusuke Motoyanagi of Nishimura & Asahi track developments following the 2007 amendments to the TSE's securities regulations

  • Hostile takeover defensive measures

    It was not until the present century that hostile takeovers became a real issue in Japan. Shintaro Takai and Keiji Tonomura of Nagashima Ohno & Tsunematsu outline some defensive measures

  • Growing issuance

    Hiroki Aoyama of Mori Hamada & Matsumoto outlines recent developments and legal issues, with a particular focus on hybrids that are treated as debt for tax purposes but as equity for other purposes

  • M&A of J-Reits

    Under these depressed market conditions, M&A of J-Reits has been attracting attention. Nobuhiko Shimose and Yasuhiko Fujitsu of Mori Hamada & Matsumoto outline possible M&A schemes for them

  • Regulatory obstacles to acquisition

    Kei Okubo and Kan Watanabe of Nagashima Ohno & Tsunematsu provide an overview of the regulations that foreign companies and funds should take into account before acquiring or investing in a Japanese company

  • Insolvency law

    Saori Hanada, Miki Ono and Eiichiro Hata of Atsumi & Partners provide an overview of the main types of insolvency proceedings in Japan and how they affect securitisation projects

  • Using declarations of trust

    Yutaka Sakai of TMI Associates considers a model case of a business trust using declarations of trust and gives an example of a business trust instrument