We are pleased to share the August 2023 issue of Japan Corporate & Finance Insights. This newsletter is designed to keep you current on what we consider to be important recent legal developments involving Japanese corporate and finance matters.

＜TOPICS＞
Important Judicial Decisions Regarding Stock Consolidation (By Kosuke Ueno, Hiroki Tsuda and Ryohei Akizuki)

In this Article, we will introduce two important decisions issued by Japanese courts in connection with the Companies Act of Japan (the “Act”) regarding stock consolidation. The first decision by the Sapporo District Court judged whether a shareholders meeting’s resolution on stock consolidation was invalid under the Act. In the second case, the Supreme Court construed the definition of a “creditor” who has the right to make a request for inspection or copying of the shareholders meeting’s minutes under the Act.