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Today's Pick

Aug 15, 2018
byAkane Hashimoto

Electric Cars Could Be a Job Killer for Japan’s No. 1 Industry"On the other hand, there are talks about declining population and labor shortage."After Mercari - Japanese asset managers see new era in venture capital investing"Various corporate activities supported by investors can lead to dynamic growth path." Recent NewsBusinessJapan's regional banks take big hits from shedding foreign debt EconomyUS-Japan price gap points to stronger yenJapan’s Economy Revs Up Again After StallingJapan begins to embrace the 100-year life MarketJapan’s Yen Bucks the RegionalJapan’s GPIF hires two local banks as custodians for short-term assets Policy(BOJ)Japan’s Financial Services Agency set to update cryptocurrency regulations in speculation countermeasure

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Recent News

Private Equity in Japan: Announcement Regarding Sale of Shares of Fasford Technology

Aug 15, 2018
byInvestment in Japan

Private Equity in Japan>Advantage Partners's announcementFunds served by Advantage Partners ("AP Funds") are pleased to announce that they have reached a definitive agreement to sell the entirety of their shareholding in Fastford Technology, Co., Ltd ("FFT") to FUJI CORPORATION ("FUJI").

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Recent News

J-REIT: GLP J-REIT Announces Issuance of New Investment Units and Secondary Offering of Investment Units

Aug 14, 2018
byInvestment in Japan

J-REIT>GLP J-REIT's announcementGLP J-REIT announces that a resolution was passed concerning the issuance of new investment units and the secondary offering of investment units at a meeting of the board of directors of GLP J-REIT held on August 13, 2018.

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Noriyuki Morimoto's Blog

Will the Japanese Court Rule in English?

Aug 13, 2018
byNoriyuki Morimoto

There is a concept to make Tokyo the largest international financial center in Asia, although experts who know more about Japan's financial situation tend to dismiss it as an unrealistic delusion. The first challenge is English. English, not just as a language problem, but the need to establish the common law system in the same way as the US and UK in legal culture. An international financial center would need to be regulated by an internationally accepted legal system, and in the current world of international finance, the common law system has an overwhelming advantage. This is not about translating Japanese law into English. Translation would be confusing rather than useless. For example, considering that trusts under the U.S. law are quite different from Japanese trusts, simply translating the word is a source of misunderstanding. It is necessary not to translate but to make Japanese trusts the same as trusts under common law. Of course, we cannot change Japan’s entire legal system, so we need technical arrangements. One of such arrangements is the concept of ​​national strategic special zones. The purpose of such zones has to be to create a special legal space within domestic law, allowing for exceptional treatment not only for legal affairs related to international finance, but also for a variety of legal fields including tax treatments, land use, and employment. Then, in these special zones, will the court make decisions based on common law as a means to ensure legal effect? Special judicial systems operate in some specialized fields, such as marine accident inquiries. Given the high expertise required in financial transactions, shouldn’t there be consideration for establishing an independent special court in special fields such as cross border transactions, if not the entire financial system? Anyway, since laws work as laws only when their effect is ensured, the establishment of the judicial system is a critical element. Then, will the trials be done in English? Setting aside lawyers, it’s hard to imagine judges speaking English under the present circumstances. However, assuming that non-Japanese parties will be involved in the litigations, to become a truly international financial center, it will have to be an English trial. In any case, there is a serious issue of jurisdictional arrangements in contracts. Given the current situation of Japan, overseas participants in transactions are likely to be reluctant to set the jurisdiction in Japan. If the Japanese side makes a compromise and recognizes jurisdiction overseas, it becomes significantly disadvantageous to Japan. Again, if it is necessary to set the same conditions for litigation in Japan and litigation abroad, we need to change the judicial practice in Japan.

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Recent News

J-REIT: Nippon Prologis REIT Announces Issuance of Investment Corporation Bonds (Green Bonds)

Aug 13, 2018
byInvestment in Japan

J-REIT>Nippon Prologis REIT's announcementNippon Prologis REIT, Inc. (“NPR”) today announced the issuance of investment corporation bonds (Nippon Prologis REIT Green Bonds, or the “Green Bonds”) per the blanket resolution approved at a board of directors meeting held June 26, 2018, as well as a prepayment of bank loans.

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Recent News

Private Equity in Japan: INCJ sells its shares in Treasure Data Inc.

Aug 09, 2018
byInvestment in Japan

Private Equity in Japan>INCJ's announcementInnovation Network Corporation of Japan (INCJ)  announced that it has sold all its shares in Treasure Data Inc. (Treasure Data) to ARM Ltd. (ARM).

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Recent News

Today's Pick

Aug 08, 2018
byAkane Hashimoto

Japan’s Central Bank Is Roiling Markets"In such a low yield and aging environment, there is no doubt that people would prioritize saving money…It should be more important to eliminate financial exclusion at various situations." Recent NewsEconomyBonuses Push Up Pay for Japanese Workers Yet Spending Falls Policy(BOJ)Bank of Japan policymakers fretted over stimulus side effects at June meeting GPIFJapan's GPIF buys net $6.9 bln of foreign assets in April-JuneJapan govt. pension fund posts 2-trillion-yen gain Governance/Stewardship/FiduciaryJapan Inc. Is Decluttering—and Foreign Investors Love the Look

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Recent News

Private Equity in Japan: Notice Concerning Sale of Equity Stake

Aug 08, 2018
byInvestment in Japan

Private Equity in Japan>TOKIO MARINE CAPITAL's announcementTOKIO MARINE CAPITAL CO., LTD. (TMC) announced that it has reached an agreement with an intermediate holding company, which is established by Maxell Holdings, Ltd. (Maxell Holdings), to sell its stakes of Izumi Products Company (Izumi), a portfolio company of TMCAP2011 Limited Partnership managed by TMC and Mercuria Japan Industrial Growth Fund managed by Mercuria Investment Co., Ltd. After the transfer of stakes, Izumi is intended to be a consolidated subsidiary of Maxell Holdings.

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Recent News

J-REIT:Japan Excellent, Inc. Announces Issuance of Investment Corporation Bonds (Green Bonds)

Aug 07, 2018
byInvestment in Japan

J-REIT>Japan Excellent's announcementJapan Excellent, Inc. (hereinafter “JEI”) announces its decision made today to issue investment corporation bonds (green bonds) as described below. The investment corporation bonds (green bonds) have already been announced in “Notice Concerning Amendment to Shelf Registration Statement for Green Bond Issuance” dated July 6, 2018 and JEI has filed an amendment to its shelf registration statement on July 6, 2018 and a supplementary shelf registration document on August 3, 2018 to the Kanto Local Finance Bureau for the issuance of investment corporation bonds (green bonds).

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Recent News

Today's Pick

Aug 01, 2018
byAkane Hashimoto

Dublin City Council looks to Japan to help with smart city project"Softbank had been actively involved in smart city projects since 2016, especially in developing IoT networks." What countries have the longest life expectancies?"Therefore asset management is becoming the most important thing to support longevity." Need for foreign language disaster alerts for travelers rises in Japan"Japan is quite good managing disaster. Please contact anyone nearby when something happens!."

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Noriyuki Morimoto's Blog

The Economics of Japanese sake

Jul 30, 2018
byNoriyuki Morimoto

Kagoshima is an area whose land is covered in volcanic ash. Sweet potato was chosen as a suitable produce that grows in the poor soil, and this led to the creation of Kagoshima’s unique shochu culture. The world has an extremely diverse range of traditional alcoholic beverages, as the result of people developing ways to produce alcohol with whatever was locally available. This is also why the fact that beer and whiskey can now be produced in Japan, at world-class quality, is a symbol of the nation’s industrial development since Meiji era and a source of pride. Now, although Japanese cuisine has spread throughout the world, Japanese sake has not. In Japan, imports of French and Italian wine probably grew together with the rising popularity of French and Italian cuisine. For France and Italy, wine has become an important industry, because it was backed by a comprehensive strategy to export food culture. For Japanese sake, that strategy was missing. While wine in France and Italy became major regional industries and also global ones at the same time, Japanese sake, which lacked a food culture strategy, seems to have dwindled into regional industries that are not even very big, let alone global. In Okinawa, people basically drink awamori. That’s because awamori is strongly integrated in its distinct food culture. Without this established food culture, there is no tourism industry or penetration of Okinawan cuisine and awamori outside of Okinawa. It’s not clear whether economic domains created cultural domains, or the other way round: it may have been simultaneous, and the order does not matter. Then, given Japan’s current situation, some fundamental development should be needed, where the revitalization of regional cultures leads to the revitalization of regional economies. Initiatives to create regional industrial clusters that accommodate the full process from R&D to production activities for advanced fields, such as advanced medicine, international finance, or life science, also have to overcome the traditional framework of attracting facilities. They have to go all the way to creating a new cultural zone extending to education, with people taking initiative in putting medicine at the core. Or we may have to go back in history. The old realm of cultural exchange back in the Edo era was naturally overlapped with the economic realm built upon a logistics network centering on waterways. By looking back at old layers of industrial clusters, we might be able to find an outlook for building a new economic realm. An economy has to be a cultural foundation that people create. A rich economy is nothing else than a rich culture.

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Recent News

J-REIT: MIRAI Co. Announces Acquisition of Real Estate Beneficiaries and Debt Financing

Jul 30, 2018
byInvestment in Japan

J-REIT>MIRAI Corporation's announcement①Mitsui Bussan & IDERA Partners Co., Ltd., the asset management company of MIRAI Corporation announces that MIRAI has decided to make the acquisition of assets. >MIRAI Corporation's announcement②MIRAI announces that it has decided to execute borrowing of total 1.7billion yen as fund for acquisition of real estate beneficiary interest and part of expenses pertaining to the acquisition as announced in "Notice Concerning Acquisition" of Real Estate Trust Beneficiaries in Japan ("Orico Hakataeki Minami Building")".

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