Japan has rules (below the ‘5% Rule’) requiring the public disclosure of the acquisition of large shareholdings (broadly, those crossing a 5% shareholding of controlling interests) in companies listed on Japanese exchanges. The shareholder concerned must file a Large Shareholding Reports (below a ‘5% Rule Report’; 大量保有報告書 – Tairyō Hoyū Hōkokusho)
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Features of Japanese M&A
M&A rules and practices in Japan share commonalities with corresponding rules in other developed markets but there are also significant differences in detail which can impact M&A startegy. This post is part of a series that aims to to be a practical introduction for professionals familiar with M&A concepts but new to the Japanese market.
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