Skip to main content

Article: Practical Responses to US Economic Security Measures

  • Articles

Read in Japanese

Article: Practical Responses to US Economic Security Measures

Noriko Yodogawa, Kojiro Fujii, Kaoru Tatsumi, Masaru Umeda, Yuki Sakurada, Yumiko Inaoka, Taku Nemoto, Hanako Ohwada, Yutaro Tanaka and Kazuki Yoshii co-authored an article entitled, "Practical Responses to US Economic Security Measures," which appears on the JETRO website (April 2023).

Authors

淀川 詔子

Noriko advises various types of clients, from the public and private sectors, in the field of international trade law. Noriko’s strength when advising clients is her ability to maintain an overarching view while duly paying attention to details specific to the case and client. These multifaceted perspectives are based on her experience working for and with various stakeholders in the field.

In particular, Noriko worked in the Appellate Body Secretariat within the WTO (World Trade Organization) Secretariat. The WTO agreements provide the fundamental rules for international trade, and the Appellate Body engages in the dispute settlement proceedings between WTO Members regarding those agreements.

Subsequently, Noriko worked as Legal Counsel to the Energy Charter Secretariat. The Energy Charter Secretariat, located in Brussels, is the secretariat of the Energy Charter Treaty, which is a multilateral trade and investment agreement in the field of energy.

In addition, at the Ministry of Foreign Affairs of Japan, Noriko actively participated in the negotiations of multiple EPAs (economic partnership agreements – how the Japanese Government describes comprehensive FTAs (free trade agreements)).

Furthermore, Noriko worked as in-house counsel at the largest steelmaking company in Japan, and in particular, participated in anti-dumping and safeguard investigations conducted by foreign authorities, from the perspective of an exporter.

At N&A, Noriko continues to assist clients in anti-dumping and safeguard investigations abroad. She also frequently advises various clients in relation to the WTO agreements (including involvement in WTO dispute settlement proceedings) and EPAs, as well as relevant domestic laws (such as those on export control, rules of origin and customs classifications).

藤井 康次郎

With regard to competition laws, he advises clients on various matters of competition law for both domestic and international cases. He has represented clients with many important international cartel cases, including auto-parts, TFT-LCD, air cargo and high voltage power cables. He also handled significant merger cases in various industries, such as nuclear, security exchanges, local banks, steel and metals, food and agriculture, airlines, paper and natural resources. His practice also covers private monopolization, unilateral conduct and unfair trade practices, including vertical restraints and abuse of superior bargaining position, including platform business and internet industries. He also has been very active in the field of international trade matters. He is one of few lawyers in Japan who acted on behalf of various industries with regard to anti-dumping (AD) and counter-vailing duties (CVD) in Japan and overseas. While he served as deputy director of the Ministry of Economy, Trade and Industry of Japan, he handled several important WTO disputes on behalf of Japanese government. He continues to advice both public and private sectors with regard to various sorts of trade law matters associated with WTO, investment treaties and Regional Trade Agreements. His trade expertise also covers export controls, investment screenings, economic sanctions and customs matters.

辰巳 郁

Kaoru TATSUMI

  • NY LLP Partner
  • New York

Mr. Tatsumi mainly advises clients on international and domestic corporate transactions such as mergers, MBOs/LBOs, joint ventures, venture capital investments and other types of M&A transactions, as well as general corporate matters and commercial disputes relating to such corporate transactions; advising major business companies, financial institutions, and private equity funds, both in Japan and overseas.
 
 Mr. Tatsumi is one of only a few lawyers in Japan who has been seconded as an attorney to the Ministry of Justice, and during his tenure there he had a significant role in important governmental activities, such as the amendment of the Companies Act.
 
 Drawing on his significant expertise and deep knowledge, he has authored numerous books and articles in the area of M&A, as well as general corporate law. These publications provide practical solutions to complex legal issues, and bolster Mr. Tatsumi's reputation as a highly respected legal practitioner.

梅田 賢

Masaru UMEDA

  • LPC Partner
  • Nagoya New York

Mr. Umeda has a wide range of experience handling corporate matters for Japanese clients investing in the U.S. and Mexico. He was seconded to a Mexican law firm (Mexico City and Queretaro) from 2016 to 2018, where he was involved broadly in corporate matters concerning Japanese companies operating in Mexico. Since 2019, he has provided practical support to Japanese companies located in the U.S. and Latin America in regard to M&A, general corporate legal affairs, compliance, labor management, disputes, and debt collection, while giving due consideration to local practices. In addition to his work on U.S.- and Mexico- related matters, Mr. Umeda also utilizes his connections with leading law firms in Latin America to allow for collaboration at a local level and thereby provide more flexible support to clients.

桜田 雄紀

He served as Director for Foreign Direct Investment Issues at the Ministry of Finance of Japan for three years from 2019 to 2022. During his tenure, he was the chief architect and strategist of the amendment of the FEFTA in 2020, where the threshold for prior mandatory notification for the acquisition of listed company shares by foreign investors was lowered from 10% to 1%. After the enactment of the amendment, he was in charge of reviewing the scope of designated business for the mandatory notification (addition of pharmaceuticals and medical equipment for communicable diseases, and critical mineral resource-related industries), strengthening the operation of screening and post-transaction monitoring, and strengthening cooperation in investment screening with relevant authorities of like-minded countries, including CFIUS of the U.S. He was also engaged in the planning and drafting of the revision of the FEFTA in 2022 (related to crypto assets) and the prohibition of new investment in Russia in response to Russia’s invasion of Ukraine.

He is the co-author of a section-by-section commentary on FDI screening under the FEFTA (“Sho-kai Gaitame-hou, Inward Direct Investment and Specified Acquisition Edition” (Shoji Homu, June 2021). He was also a speaker at webinars on FDI screening for government officials of member countries organized by the Organization for Economic Cooperation and Development (OECD).

May 2021 – Webinar on Transparency, Predictability and Accountability for investment screening mechanisms
May 2022 – Regulatory proportionality of investment screening mechanisms