Skip to main content
  • Finance Law
  • Web3 / Metaverse
Read in Japanese

Outline of “Analysis on Tokenization of J-Credits”

On September 25, 2025, a Report titled “Analysis on the Tokenization of J-Credits” (“Report”), prepared primarily by our firm, was published on the websites of the J-Credit Scheme and the Ministry of Economy, Trade and Industry. The Report examines various legal issues related to the “tokenization of J-Credits,” which involves rights relating to J-Credits represented electronically on a blockchain, using J-Credits as the underlying asset. The structure and an overview of the Report are as follows. The Report introduces the following risks that may arise when J-Credits are tokenized, taking into account the current J-Credit System and the characteristics of tokens. Since token holders are not considered to own the J-Credits themselves, but rather to hold claims against the J-Credit holder (registered owner)...To read the full article, please see the PDF file

Finance Law & Web3 / Metaverse Newsletter Download PDF [263 KB]

Authors

本柳 祐介

Yusuke has a wealth of experience in the areas of capital raising by corporations, the formation of investment funds, and investments in investment funds, in transactions of all sizes, both domestically and internationally. In the field of capital raising, he has an extensive and excellent track record in the issuance of shares by financially distressed listed companies. In regard to fund formation and fund investment, he is constantly involved in numerous transactions, and advises not only on the legal aspects of those transactions, but also on market standards. He also provides advice on a wide range of financial regulations, including those in new fields such as fintech. His advice includes providing guidance on registering or filing notifications required for conducting finance-related business, analyzing new finance-related businesses, and establishing/reviewing the internal compliance rules/systems of his clients. Recently, he has become more involved in blockchain- and token-related matters, including not only those in the finance sector, such as fundraising by issuing crypto assets, listing crypto assets on domestic and foreign exchanges, and other crypto asset-related transactions, but also those in areas outside the finance sector.

紺野 博靖

Hiroyasu Konno specializes in the energy and natural resources sector, mainly in the upstream and middle-stream sectors, such as projects and transactions regarding LNG, biomass fuels, coal, rare metals, copper ore, petroleum, and other minerals in the world, as well as the down-stream sectors such as transactions regarding electricity and gas in Japan. He has a breadth of knowledge about industrial practices and policy trends, through his experience working as a secondee, or temporary worker, at Nippon Oil (currently ENEOS), JOGMEC (Japan Oil, Gas and Metals National Corporation (currently Japan Organization for Metals and Energy Security)),and JERA, in addition to an energy and natural resources team in a foreign law firm, as well as experience from being a committee member of relevant governmental panels. He always endeavors to provide clients with legal services with additional value, including managerial perspectives. He handles all kinds of legal issues related to the energy and natural resources sector, by closely working together with N&A’s experts in each sector. He also actively works on legal issues with regard to “carbon”, such as CCS (Carbon Capture and Storage), transactions of carbon credits, and others.