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Current Business and Legal Issues in Japanfs Banking and Finance Industry |
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By Mitsuru Misawa |
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The Preface
As a finance professor of a US university, I have noticed not many books on Japan, especially books written by Japanese authors. I have 30 years of experience as an investment banker of Japan in Tokyo and New York. Over these years I have gained tremendous insight into both sides of Japan and the US issues of finance, law and business. My expertise in these three areas contributes to a very unique perspective as is shown in my book. Because I am from Japan, this book was written from an insiderfs perspective. Japanese corporate behavior and practice raise a number of issues for international businessmen, accountants and lawyers. In todayfs globally developed economy, it is important that Japanfs current law, system and way of thinking are easily and accurately comprehended by those in any foreign country whose structures differ from those in Japan. Japanfs economy is the second largest in the world but there are many things that they find difficult to understand. Their interest in the current Japanese law, market and economy is significant and increasingly prominent. My book on Japan is sure to spark their interest. This book includes a number of citations as footnotes that show the readers how they may begin to collect vital information from Japan. The data here are pertinent to understand the Tokyo markets but are difficult for people outside the Tokyo markets to obtain. The book is based on ten articles on Japanese finance and law that have already been published in respected journals. For each chapter, I have included additional and introductory comments regarding Japanfs banking and finance industry. I would like to thank the journals for permitting me to use my articles, copy rights of which are held by them. Financial support from the Center for Japanese Global Investment and Finance at the University of Hawaii, is gratefully acknowledged. To know more about the Center, please see the Appendix of the book. I also greatly acknowledge the support and understanding of my family, which has helped me complete the book. Contents Published by World Scientific Publishing Co. Pte. Ltd. 5 Toh Tuck Link, Singapore 596224 USA Office: 27 Warren Street, Suite 401-402, Hackensack, NJ 07601 UK Office: 57 Shelton Street, Covent Garden, London WC2H 9HE ISBN 981-256-859-X Bookfs Website: http://www.worldscibooks.com/eastasianstudies/6154.html |
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Preface |
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vii |
About the author |
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xi |
Chapter 1 |
Introduction |
1 |
Chapter 2 |
The Tokyo International Capital Market for Foreign Issuers and Required Disclosure |
19 |
Chapter 3 |
Japanfs Big Bank Reform |
65 |
Chapter 4 |
Banks and Bad Loans in Japan |
95 |
Part One |
Bad Loans: A Comparative Study of US and Japanese Regulations Concerning Loan Loss Reserves |
95 |
Part Two |
Bank Directorfs Decisions on Bad Loans: A Comparative Study of US and Japanese Standards of Required Care |
123 |
Part Three |
Case Study of the Long Term Credit Bank of Japan |
153 |
Chapter 5 |
Disclosure Principle in Japan |
179 |
Part One |
A Comparative Study of US and Japanese Bank Directorsf Duty of Disclosure |
179 |
Part Two |
Case of Seibu Group — Recent Problems on Japanese Corporate Disclosure System |
205 |
Chapter 6 |
Sales Recognition in Japan and the US — Possibility of Adopting International Accounting Standards in Japan |
227 |
Chapter 7 |
The Japanese Issues and Perspective on the Convergence of International Accounting Standards |
253 |
Chapter 8 |
Shareholdersf Action and Directorfs Responsibility in Japan |
299 |
Chapter 9 |
A New Trend in Japanfs Security Regulations — Efficiency Test of US Laws in the Different Markets |
373 |
Chapter 10 |
M&A for Foreign Investments in Japan |
405 |
Appendix |
The Center for Japanese Global Investment and Finance |
445 |
Index |
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451 |