Same Plant, Different Soil: Japan's New Merger Guidelines

Abstract:     
Japan's Merger Guidlines issued in May 2004 (New Merger Guidelines) mark a turning point for antitrust in Japan. While Japan's New Merger Guidelines may resemble the U.S. Merger Guidelines in form, due to their context, the New Merger Guidelines will likely perform a different function. Unlike in the United States, the New Merger Guidelines in Japan are not a response to perceived overactive merger enforcement in the face of a merger boom. Instead, Japan's move appears to be part of a larger domestic plan of administrative law reform, together with domestic and external pressure to harmonize antitrust laws with the EU and United States. While the New Merger Guidelines may succeed in Japan, any success will of necessity be different than that of the U.S. Merger Guidelines.

Keywords: antitrust, competition law, Japan, merger, guidelines

Working Paper Series