On June 3, 2009, Japan’s Upper House passed a bill to amend the Japanese Anti-Monopoly Act (the “AMA”), and the law was promulgated on June 10, 2009. The bill was proposed on February 27, 2009, and passed as originally proposed without revision. The new law amended the AMA to:
*Permit the Japan Fair Trade Commission (“JFTC”) to levy potentially significant administrative fines for certain types of single-firm vertical practices
*Impose significantly heavier penalties on cartels, including increased fines and longer terms of imprisonment
*Revise substantially the form and process of Japan’s pre merger notification requirements
*Reform rules concerning the JFTC’s handling of sensitive business information, including the rules regarding exchange of information with foreign competition enforcement agencies...
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