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University of Florida
Levin College of Law

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Tuesday, February 7, 2012

The Sun Also Sets: Trending Away from Japanese Exceptionalism in Merger Control and Closer to Global Standards

Posted by D. Daniel Sokol

Etsuko Kameoka (Van Bael & Bellis) & Mel Marquis (European University Institute and University of Verona) have written on The Sun Also Sets: Trending Away from Japanese Exceptionalism in Merger Control and Closer to Global Standards.

ABSTRACT: Having endured two lost decades, Japan has little appetite for a third. But as an export-driven country, there are limits to Japan's ability to will itself back to economic health, given limp global demand and bleak forecasts. The implicit medium-term strategy-just staying afloat-seems evident in the Cabinet's decision of June 18, 2010 to pursue a "New Growth Strategy." One interesting offshoot of the Strategy is a package of merger control reforms, effective July 1, 2011. These took the form of an amendment to the Japan Fair Trade Commission's ("JFTC") notification rules and a revised set of guidelines.[3] The developments highlighted here are: the abolition of the prior consultation system; enhanced procedural transparency; confirmation of greater openness to wider geographic markets, and; early signs of how the reforms seem to be influencing the JFTC's merger practice.

http://lawprofessors.typepad.com/antitrustprof_blog/2012/02/the-sun-also-sets-trending-away-from-japanese-exceptionalism-in-merger-control-and-closer-to-global-.html

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