On March 28, 2007, the Japan Fair Trade Commission (JFTC) published revised “Guidelines on the Application of the Anti- Monopoly Act to Reviewing Business Combinations” (Kigyo Ketsugo Shinsa ni Kansuru Dokusenkinshiho no Unyou Shishin).[1] These final, revised Guidelines incorporate

public comments received since the JFTC’s publication of the preliminary revisions on January 31, 2007. Most of the changes to the preliminary draft Guidelines are minor revisions in terminology to avoid misconstruction.[2]