Legislations and Regulations

Introduction

　　In Japan the 1980s is commonly referred to as the “Bubble Era”. At the end of the 1980s the bubble economy burst. Since then, Japanese corporations have been struggling with a protracted recession. As a result, Japanese corporations have had to restructure their businesses and governance system.

　　In order to accelerate restructuring and make Japanese corporations competitive again, the Ministry of Justice (the MOJ) started a project to drastically revise the provisions applicable to corporations in the Japanese Commercial Code. In January 2001, the MOJ requested the Legislative Council of the MOJ (“the Council”) to review the corporate law and to propose amendment plans. In response, the Council undertook a review of the corporate law and prepared a series of amendment plans. At the same time, a number of members of the Diet proposed their own amendment plans for the corporate law. As a result, the Japanese corporate law was revised six times from 2001 to 2004. In addition, the Council started to prepare an even more drastic amendment plan for the corporate law which was called the project for the “Modernization of the Corporate Law.”

　　As a result of the “Modernization of the Corporate Law” project, the brand-new Japanese corporate law was established in 2005.

Legislation and Regulations relates to International Corporate Law

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