Nagashima Ohno & Tsunematsu

Nagashima Ohno & Tsunematsu’s Satohiro Ono outlines the crucial aspects of Japan’s firewall regulation, which is increasing in scope and complexity

Naoki Fukumoto of Nagashima Ohno & Tsunematsu explains the impact of making false statements in the Japanese disclosure system and the most common circumstances under which securities litigation lawsuits are filed

Kota Suzuki of Nagashima Ohno & Tsunematsu explains the Japanese rules concerning the use of rewards in blockchain games as global regulatory trends set the pace

Mayuko Takahashi of Nagashima Ohno & Tsunematsu provides an overview of the stablecoins regulations under Japan’s amended Payment Services Act

Kohei Okawa of Nagashima Ohno & Tsunematsu provides a guide to the two main types of restructuring procedures in Japan, and explains the merits of each one

Reona Okazaki of Nagashima Ohno & Tsunematsu explains how disclosure practices for "Material Contracts in Management" may be revised in Japan, to give investors in companies more information.

Hiroki Takano of Nagashima Ohno & Tsunematsu explains the general treatment of contracts and claims under Japanese insolvency law

Yuichi Iteya of Nagashima Ohno & Tsunematsu discusses the TSE’s reorganisation of five market segments into three, and the different listing requirements that companies must comply with

Shin Mitarai of Nagashima Ohno & Tsunematsu explains why the impact of the lift on the fund transfer businesses in Japan is expected to be significant

Tomoharu Hagiwara of Nagashima Ohno & Tsunematsu explores the reasons behind Japan’s decision to amend its security law system

Mizuki Ogawa of Nagashima Ohno & Tsunematsu discusses how the Japanese FSA and mega banks have sought to strengthen sustainable finance initiatives

Shotaro Inoue of Nagashima Ohno & Tsunematsu outlines the amendments that introduce a risk-based approach to regulating fund transfer services in Japan

Shoko Ozawa of Nagashima Ohno & Tsunematsu explains how the new regulations will affect residential sub-leasing and property management businesses and help to prevent future disputes associated with residential leasing arrangements

Takuya Hasegawa of Nagashima Ohno & Tsunematsu explain how the proposed amendments to the Act on the Protection of Personal Information will improve the efficiency of data usage throughout Japanese industries

Nagashima Ohno & Tsunematsu's Takeshi Inagaki looks at the key points of the new rules

Sending personal information to third country parties will be more heavily regulated, writes Naoya Matsuo of Nagashima Ohno & Tsunematsu

Nagashima Ohno & Tsunematsu lawyer Takuya Kogashiwa describes the new certification process and disposal cost reserve system

On July 24 2019, based on a request from the Financial Services Agency (FSA), the Trust Companies Association of Japan – a financial association whose members comprise of financial institutions engaged in trust businesses – proposed sample provisions to deal with the risk of money laundering etc. in trust agreements. The outline of these sample provisions is as follows:

On March 24 2020, the Council of Experts on the Stewardship Code, which was established by the Financial Services Agency of Japan (FSA), revised ’Japan’s Stewardship Code, originally published in 2014.

On March 4 2019, a study group on collateral legislation for movables and claims (study group) was established by the Ministry of Justice to review such legislation.

Investment in nursing homes for the elderly through acquiring real estate or the shares of companies managing such homes is increasing in Japan. Generally, investors should be aware of the relevant regulations in order to consider risks; however, the structure of Japanese laws and regulations on these homes is complicated because there are historically two authorities involved, each having established different regulations. The following is a brief introduction from the latest legal perspective for potential investors.

On October 10, 2019, Koshidaka Holdings Co., LTD., listed on the First Section of the Tokyo Stock Exchange, (the “Company”) announced the dividend in kind, the distribution of property other than cash, to its shareholders of all shares of its wholly-owned subsidiary, Curves HOLDINGS Co., Ltd (the “Koshidaka Spin-off”). After the Koshidaka Spin-off , Curves HOLDINGS Co., Ltd is expected to conduct an initial public offering and list on the Tokyo Stock Exchange itself.

On November 30 2018, the Act on Prevention of Transfer of Criminal Proceeds was amended in order to introduce new methods of verifying the identity of customers. The Act aims to prevent services provided by specified business operators under the Act, such as financial institutions, from being used for money laundering by criminal organisations.

On April 19 2019, the Financial Services Agency of Japan published the Cabinet Order to Partially Amend the Order for Enforcement of the Financial Instruments and Exchange Act (draft). Of these proposed amendments, this article examines the amendment concerning disclosure regulations that relate to share compensation. Please note that, as of May 31 2019, the effective date of the proposed amendments has not been announced, and the content of the proposed amendments may change.

On November 30 2018, partial amendments to the Ordinance for Enforcement of the Notary Act (Amended Ordinance) came into force. The Amended Ordinance aims to identify the beneficial owners of companies and improve transparency in order to prevent money laundering or terrorism financing activities. According to the Amended Ordinance, when making an application to a notary for the authentication of articles of association to incorporate new joint-stock companies (kabushiki-kaisha), general incorporated associations (ippan-shadan-houjin) or general incorporated foundations (ippan-zaidan-houjin), applicants must declare to the notary: (i) the beneficial owner of the company; and, (ii) that the beneficial owner is neither a member of criminal organisations nor an international terrorist, and where there is any reasonable doubt the notary will request the applicant to provide explanations.

On January 31 2019, the Cabinet Office Order to Partially Amend the Cabinet Office Order on Disclosure of Corporate Affairs was issued by the Financial Services Agency. It was suggested that the original order be revised based on the recommendations made in the Financial System Council's 'disclosure working group report' announced in June 2018. Following is an outline of the revisions to be made:

The Diet passed the Housing Rental Business Act (an official translation is yet to be determined) on June 9 2017. The Act, which will take effect in June 2018, defines and regulates vacation rental businesses such as Airbnb.