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Wolf Pack Activism vs. Poison Pill in Japan (律师 浦田 悠一)
A. Introduction: The Shocking Decision in the Mitsuboshi Case
On July 28, 2022, the Japan Supreme Court upheld the decision of the Tokyo High Court to halt the implementation of the shareholders' rights plan (or poison pill) of Mitsuboshi Co., Ltd.1 ("Mitsuboshi") that was challenged by one of its shareholders, Adage Capital LLP ("Adage"). It was the first court case in Japan where a listed company implemented a shareholders' rights plan that targeted a group of activists who, without expressly agreeing to act together, were nonetheless acting in concert, and where one of them sought an injunctive remedy. Thereafter, on September 20, Mitsuboshi announced that all of its incumbent board members would step down and it would hold an extraordinary general shareholders' meeting to elect the new board members nominated by Adage.....( 详情请见此处链接。）

Basic Structure of Real Estate Finance in Japan (律师 十河 辽介)
A. Introduction
The Japanese real estate investment market is continuously expanding despite the spread of COVID-19. In recent years, it has been attracting a great deal of interest from overseas investors, especially due to the weak yen. The basic investment structures in the Japanese real estate investment market are the GK-TK structure, the TMK structure, and the REIT structure.
This article will introduce the GK-TK structure and the TMK structure, which are available for foreign investors who may prefer short-term investments. .......( 详情请见此处链接。）