Expansion of Business Sectors Subject to Investment Screening in Japan for the Purpose of Securing Stable Supply Chains
Competition Law / International Trade
Yuki advises clients at the intersection of business and national security on matters involving foreign investment screening, sanctions, export controls under the Foreign Exchange and Foreign Trade Act (FEFTA) and other economic security related matters under the Economic Security Promotion Act as well as government relations.
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).
Economic Security and Financial Institutions
Article: Practical Responses to US Economic Security Measures
Human Rights, the Environment, and Economic Security: New Trends in International Trade Regulations and Corporate Strategies
Article: Full enforcement of the Act regulating the use of land important from a national security perspective, the initial designation of the covered area, and its impact on foreign operators
Legal Outlook by Nishimura & Asahi
Article: 50 Q&As about the Economic Security Promotion Act
- School of Law, University of California, Los Angeles (LL.M.)
- Keio University (LL.B.)
- Director for Foreign Direct Investment Issues, Research Division, International Bureau, Ministry of Finance, Japan
- Singapore Office
- Kim & Chang, Seoul