Comment from Sakon Kuramoto, Benjamin Miller and Hiroki Sugita, Orrick, Herrington & Sutcliffe
On June 7, the amended ordinances prepared by the Japanese government to implement amendments to the Foreign Exchange and Foreign Trade Act (Fefta) were fully implemented, which, among other things, impose certain restrictions on foreign direct investments made by foreign investors and subjects the transaction to substantive review by Japanese authorities.
Takeaways for Japan-based startups and non-Japanese investors
Think ahead
Both Japan-based startups and non-Japanese investors should address at the very beginning of term sheet discussions whether the investment by…
