All articles of category:
"Newsletter"

Latest

Newsletter Reform of German Competition Law (April 2021)

Part 1: Unburdening small and medium-sized companies

The German Act Against Restraints of Competition (“Competition Act”) has been amended to address challenges of the digital economy, to make merger control more efficient for small and medium-sized companies, and to implement EU legislation. This reform of January 2021 concerns several aspects that are of relevance to foreign investors. Those aimed at unburdening small and medium-sized companies will be outlined in this newsletter. A subsequent newsletter will give an overview of the tightened antitrust rules for “Big Data” companies. All our newsletters are also available for download on our website at www.arqis.jp.

1. Lower filing thresholds in merger control

Following the increase of turnover thresholds, a deal must now be notified if
– the combined worldwide turnover exceeds EUR 500 million,
– one party to the concentration has turnover in Germany of more than EUR 50 million (previously: EUR 25 million) and
– another party has turnover in Germany of more than EUR 17.5 million (previously: EUR 5 million).

This reform is expected to reduce the number of new notifications to the Federal Cartel Office (“Bundeskartellamt”) by at least 30 % per year. It has been effective since January 2021, meaning that it applies to any deal that is not yet closed.

However, considering the size of the German economy, the new turnover thresholds are still relatively strict by international comparison. Moreover, an additional (albeit rarely applied) transaction-based threshold might capture the acquisition of a target company regardless of its turnover if the consideration paid exceeds 400 million EUR. The transaction-based threshold may capture, e.g., start-ups with considerable R&D activity or digital business models with low turnover.

For these reasons, many international transactions will still need to be approved beforehand by the Bundeskartellamt, which has announced that freed-up resources will be redirected to a more thorough investigation of the remaining cases.

Continue Reading (PDF)

More

Newsletter Re-Employment after Retirement Age (March 2021)

Japan is one of the world’s most rapidly ageing societies. Along with the traditionally high life expectancy, the country’s fertility rate is at a continuously low level. According to the Japanese Ministry of Internal Affairs and Communications, as of September 2020, nearly 30% of Japanese are already 65 years or older. The effects of this demographic change are noticeable. Along with the increasing competition for qualified junior employees, the ageing workforce poses new challenges for employers.

OPEN PDF
read more

Newsletter Setting-up Business in Japan (February 2021)

Japan continues to attract the interest of foreign investors, wishing to establish or expand their own business presence in this market. Japanese corporate law provides for a broad variety of legal types of investment, the most prevalent of which are described in this newsletter. These include the representative office (I.), the branch (II.), the joint stock corporation (III.) and the limited liability company (IV.). Whereas the stock corporation traditionally enjoys the highest reputation with banks and business partners and for this reason is most frequently chosen for the establishment of a new legal entity, also the limited liability company has been gaining popularity due to its flexible structure and ease to administer.

OPEN PDF
read more

Newsletter Major Trends in Offshore Wind Power Generation in Japan (Oct 2020)

Being designated by the Japanese government as a main power source, new policies to proactively promote renewable energy have been adopted in Japan. Among several renewable energy sources, offshore wind power generation has attracted the most attention because, while the lands suitable for land wind power are limited, Japanese waters offer relatively favorable offshore sites for offshore wind power generation, and thus it is necessary for Japan to introduce wind power generation using such offshore sites (cf. the 5th Basic Energy Plan approved by the Cabinet on July 3, 2018).

OPEN PDF
read more

Newsletter Amendments to Renewable Energy Related Laws and Regulations (September 2020)

The Act to Amend the Electricity Business Act, Etc. for Establishing a Resilient and Sustainable Electricity Supply System (the “Energy Resilience Act”) was enacted effective as of June 5, 2020 upon the passage of the bill therefor by the House of Councilors of the Japanese Diet. The Energy Resilience Act provides for various amendments to energy-related laws, such as the Act on Special Measures Concerning Procurement of Electricity from Renewable Energy Sources by Electricity Utilities (the “Renewable Energy Special Measures Act”) and the Electricity Business Act, and is planned to be enforced starting from April 1, 2022.

OPEN PDF
read more

Newsflash BOJ Filing and FDI Category Expansion (August 2020)

On 7 June 2020 a significant amendment concerning filing obligations of foreign investors in Japan under the Japanese Foreign Exchange and Foreign Trade Act (FEFTA) came into effect which widely expanded the scope of mandatory prior-notification obligations to the competent governmental authorities (i.e. the Ministry of Finance (MOF) and the Ministry or Agency supervising the area of the business concerned) through the Bank of Japan (BOJ).

OPEN PDF
read more

Newsflash Entry Restrictions to Japan for Foreigners and Exemptions (June 2020)

According to Article 5 paragraph 1 item 14 of the Japanese Immigration Control and Refugee Recognition Act, foreign nationals are generally refused entry to Japan in case they fall under a reason designated by the Ministry of Justice (MoJ) as risk for the interests or public safety of Japan. Based on this provision, in view of the COVID-19 pandemic, the MoJ has published.

OPEN PDF
read more

Newsflash Balancing Home Office with Office Work (June 2020)

Although the state of emergency has been lifted for the entire territory of Japan on 25 May 2020, the health risks related to COVID-19 persist, and many companies have chosen to continue teleworking (or working from home, “home office”) in one way or another. In this Newsflash we discuss some legal questions resulting from these changes at the workplace and the consequences for employer and employees.

OPEN PDF
read more