On July 7, 2021, the Japan Ministry of Finance (MOF) published an updated list of classifications of companies listed on Japanese exchanges requiring prior notifications of inward direct investment under the Foreign Exchange and Foreign Trade Act (FEFTA).
This list was prepared by the MOF for the benefit of foreign investors to determine whether a foreign investor will be required to submit a prior notification to competent ministries through the Bank of Japan (BOJ) when such foreign investor makes an inward direct investment into one of the listed companies.
The previously effective lists (and categorizations) of Japanese companies were published by the MOF on June 5, 2020 and July 10, 2020. The newly revised list was prepared by the MOF as an annual update based on the findings from a survey questionnaire sent to all listed companies, the contents of articles of incorporation of these companies, and the details of their business activities set forth in their filed securities reports.
If you have any questions or would like more information on the issues discussed in this LawFlash, please contact any of the following Morgan Lewis lawyers: