1. Introduction The share delivery system is a newly created reorganization scheme under the Companies Act. This law partially came into effect in March 2021 as a revision to the Companies Act. This law established the share delivery system, and the corresponding amendments to the tax law were included in the 2021 tax reform. In…
Japan is known for having a unique and distinct corporate culture. Many readers of this post may be interested in learning about the differences in business practices when hiring foreign nationals or working with foreign affiliated firms. To better understand the contrasts between Japan and other countries, this article will focus on business practices in…
Although Japan has been very slow in adopting globalization, the number of foreigners working in Japan has seen a bump over recent years. However, working in Japan is not always a great experience for foreigners. Some foreigners, for example, have been forced to work in Japan as they are transferred here. It is critical to…
Foreigners often have the impression that Japan is safe and secure, and that living in a well-ordered society would be easy. On the other hand, some foreigners perceive Japan to be inconvenient in a variety of ways because of the strict order and rules that they many need to follow. Without a doubt, different cultural…
Summary of Nikkeijin’s Residency Status and Employment Regulations. Many companies look to hire a foreign national who is of Japanese descent for their ability to understand the Japanese culture and language. While the term “Nikkei” is commonly used, many people may question “What exactly is a Nikkei?”. In this post, we will also define Nikkeijin,…
Foreigners who wish to remain in Japan must meet the requirements of the Immigration Control and Refugee Recognition Act, which specifies their legal status as a resident in the country (Immigration Act). The status of “long-term resident” is used to admit foreigners who do not fall under any other status of residence, but who have…
There are times when a “guarantor” when applying for a status of residence, but what is a guarantor anyways? In this article, we will explain what the role of a guarantor is in a status of residence application, the different cases in which a guarantor is required, and the responsibilities imposed on a guarantor. What…
In this article, we will discuss what the procedures are for marriage between Japanese and Chinese citizens, and what the procedures are for filing for a status of residence that allows Chinese citizens to live in Japan. Foreigners who marry Japanese nationals can apply for the “Spouse or Child of a Japanese National” status of…
Introduction The Accounting Standard for Fair Value Measurement (hereinafter referred to as “Fair Value Measurement Standard”), released in 2019, has become standard treatment applied for fiscal years beginning on or after April 1, 2021. Since this standard is based on IFRS 13, there may be some expressions and terms that may initially seem difficult to…
When a Japanese national marries a foreign national, there are several documents that need to be submitted, one of which is the “Certificate of Legal Capacity to Marry”. Some may find it difficult to find information pertaining to “Certificate of Legal Capacity to Marry”, as it is not required for Japanese marriages. That is why…
Introduction The “Accounting Standard for Disclosure of Accounting Estimates” has become mandatory for fiscal years ending on or after March 31, 2021. This accounting standard mentioned does not apply to the actual process of accounting, it is to provide a standard for the notes provided to financial statements. IFRS-compliant companies have already been providing detailed…
To reside in Japan, a foreign national must have the status of residence stipulated by the Immigration Control and Refugee Recognition Act (Immigration Act). The “Spouse or Child of Permanent Resident” is a status of residence for family members of foreign nationals who stay in Japan with the “Permanent Resident” status (hereinafter referred to as…
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