Changes to Japan’s Pre-Merger Notification System Become Effective

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On January 1, 2010, amendments to the Japanese Anti-Monopoly Act (the “AMA”) that substantially revise Japan’s pre-merger notification system came into effect.[1] Although the amendments do not alter the legal standards under which the Japan Fair Trade Commission (“JFTC”) evaluates proposed transactions, they have changed the AMA to:

*Require a pre-closing notification for certain acquisitions of voting securities

*Revise the pre-merger notification thresholds

*Modify the requirements for the acquisition of voting securities by partnerships

Please see full update below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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