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Outline of the Amendment to the Japanese Antimonopoly Law

 |  August 11, 2009

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Aug 13, 2009

On June 3, 2009, the bill to amend the Act concerning Prohibition of Private Monopolization and Maintenance of Fair Trade (Antimonopoly Act) was approved and established at the 171st ordinary session of the Diet. The Act was promulgated as Act No. 51 of June 10 of the same year. The major points of the amendment are: 1) expansion of types of conduct subject to surcharge payment orders and other revisions concerning surcharges, which are aimed at enhancing deterrence against violations and at strengthening the enforcement power of the Japan Fair Trade Commission (“JFTC”); 2) introduction of the prior notification system of share acquisitions, review of the notification threshold, and other revisions concerning regulations on business combinations, which are designed to ensure the effectiveness and international harmonization of regulations; and 3) increase in maximum jail terms for cartels and bid-rigging to enhance deterrence for individuals.