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
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