简报
Tokyo Stock Exchange Tightens Rules on MBOs and Controlling Shareholder Buyouts: Enhanced Disclosure and Minority Protection
宇治佑星
- M&A
- M&A/企业重组
- 私募股权融资/风险投资和初创
- 公司
- 公司治理
- 一般企业法务
Publication
请注意,本简报的目的是提供信息,并非提供法律建议。另外,本简报仅包括根据发行日(制作日)时点的信息,不包括该时点之后的信息。特别是速报可能会与现状的解释或惯例不同,敬请留意。
I. Introduction
The Act on the Protection of Personal Information (the “APPI”) sits at the center of Japan’s data protection regime. In September this year, the Diet approved the first ever significant amendment to the APPI (the “Amendment”) since its full introduction in 2005.
The Amendment aims to eliminate the ambiguity of the current regulatory framework and facilitate the proper use of personal data by businesses while strengthening the protection of privacy. It also aims to address global data transfers and harmonize Japan’s data protection regime with that of other major jurisdictions.
While the Amendment will likely not be fully implemented until 2017, given the significant extent of the Amendment, companies doing business in Japan are advised to act swiftly to implement updated data protection measures that conform to the strengthened requirements under the amended APPI. Notably, all private businesses in Japan, regardless of their size, will be affected by the Amendment since it will abolish the so-called small business exception applicable to private businesses that have possessed personal data of less than 5,000 individuals in their database in the past six months.
This article summarizes some of the notable changes to the existing regulatory framework as proposed in the Amendment.
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