Outside Publication

Understanding Investor Reporting Obligations Under Japan's Large Shareholding (5%) Rule, Practical Law

November 18, 2019

Morgan Lewis partners Christopher Wells and Tadao Horibe and paralegal Naoko Kono authored an article for Practical Law about the application of the 5% rule in Japan. In the article, they discuss what securities the rules covers, what circumstances require the filing of variation reports, how the relevant ownership ratio of shares is calculated, filing mechanics, and what sanctions can be imposed upon a failure to report.

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