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This update is also available on our Japanese language site.
On March 28, 2007, the Japan Fair Trade Commission (JFTC) published revised “Guidelines on the Application of the Anti- Monopoly
Act to Reviewing Business Combinations” (Kigyo Ketsugo Shinsa ni Kansuru Dokusenkinshiho no Unyou Shishin).[1] These final, revised Guidelines incorporate public comments received since the JFTC’s publication of the preliminary revisions
on January 31, 2007. Most of the changes to the preliminary draft Guidelines are minor revisions in terminology to avoid
misconstruction.[2]
The revised Merger Guidelines maintain the same fundamental approach to merger review as they have had in the past, but introduce
some new concepts in areas such as geographic market definition and the scope of safe harbors. For details, please refer
to our earlier update, JFTC Proposes Important Changes to Japan’s Merger Guidelines, at http://www.mofo.com/news/updates/files/update02320.htm.
Along with its release of the final Merger Guidelines, the JFTC published a statement of its revised policy on pre-consultation
in the merger review process. Chief among the revisions to the JFTC’s pre-consultation policy is a new list of materials
parties are advised to provide the JFTC during pre-consultation. The new policy advises parties to provide information such
as the size of new production facilities and financing required for new entry, as well as any internal studies on efficiencies
the parties may have conducted.
Footnotes
[2] One notable change in this area is the removal of the word “prove” from the Guidelines’ section on efficiencies. Commenters
had argued that use of such the term was inappropriate because the Guidelines do not discuss proof in any other location.
