Comparative Guides
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Results: 4 Answers
Merger Control
7.
Penalties and sanctions
7.1
If notification is mandatory, what sanctions may be imposed for failure to notify? In practice, does the relevant authority frequently impose sanctions for failure to notify?
 
Japan
A criminal fine of up to JPY 2 million may be imposed for failure to notify. This fine can be imposed both on the parties that ought to have notified and on any representative or employee who is responsible for the failure. However, there are no cases in which such a penalty has been imposed.

For more information about this answer please contact: Kentaro Toda from TMI Associates
7.2
If there is a suspensory obligation, what sanctions may be imposed if the transaction closes while the review is ongoing?
 
Japan
A criminal fine of not more than JPY 2 million may be imposed for failure to comply with waiting periods. This fine can be imposed both on the notifying parties and on any representative or employee who is responsible for the failure.

For more information about this answer please contact: Kentaro Toda from TMI Associates
7.3
How is compliance with conditions of approval and sanctions monitored? What sanctions may be imposed for failure to comply?
 
Japan
The Japan Fair Trade Commission (JFTC) generally requires regular reports in order to ensure that the parties are complying with the terms of any remedies on which clearance was based. Parties that fail to implement a remedy on which clearance was based can be subject to a cease and desist order. Imprisonment with work for up to two years or a fine of up to JPY 3 million or a person and up to JPY 300 million for a legal person may be imposed for failure to comply with a cease and desist order which has become final and binding.

For more information about this answer please contact: Kentaro Toda from TMI Associates