How unverified claims in advertising can be regulated is a developing legal issue in Japan. What makes this issue complicated is its bearing on the freedom of speech. Depending on how one feels about the degree to which the...more
Since 2005, Japanese courts have reviewed the legality of many poison pills and whether they can withstand the shareholder equality principle. Among those cases, of particular interest have been (a) how courts evaluate...more
Transactions within a corporate group can sometimes achieve reduction of tax obligations, regardless of whether or how much such result was intended. One typical way observed is to extend an international intra-group loan by...more
In 2011 and 2012, two Supreme Court cases discussed how the court should calculate damages arising from stock purchase and sale made on the basis of false securities disclosures. In 2021 and 2022, two district courts further...more
Japanese courts strike down a poison pill devised and implemented by the board of directors alone-
Background-
In many jurisdictions, poison pills are devised and implemented by the board of directors without shareholders...more
How an anti-takeover measure can be justified has been argued in many different ways in the last 20 years. In recent significant decisions involving an injunctive motion by the acquirer triggered by the issuance of a poison...more
Introduction:
The Japanese Supreme Court issued a new important decision that discusses the degree to which punitive damages judgment can be tolerated for purposes of Japanese enforcement....more