Archive for May, 2017

Commercial Code and Act on International Carriage of Goods by Sea – Revision Bill Submitted to National Diet

By Kazuya Yamashita

Submission of Bills to Diet

The Bill to Partially Revise the Commercial Code and Act on International Carriage of Goods by Sea received Cabinet approval and was submitted to the National Diet on 18 October 2016. This Bill revises portions of the Commercial Code mainly relating to transport and maritime trade as well as portions of the Act on International Carriage of Goods by Sea. Particularly regarding the transport and maritime trade portions of the Commercial Code, because there have been no substantial revisions since the Code was established more than a century ago in 1899, it can be said that a bill long-awaited by the transport industry has finally been submitted to the Diet.
On this occasion, I would like to introduce the history of the Bill leading up to its submission to the Diet and an overview of its contents.

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The fundamentals of wills in Japan

By Tomoko Hayashi

Amongst the work we regularly perform is the preparation of wills (commonly called “yuigon” in Japanese, but formally called “igon” in Japanese law).

According to a survey by the Japan National Notaries Association, more than 70,000 notarized wills were prepared in 2006, which is approximately double the number prepared in 1981 and shows that the number of wills is increasing. In order to increase awareness about assets and inheritance, Japan’s bar associations have designated April 15 as “Wills Day” (based on that date rhyming with “a good will” in Japanese) and host annual events, yet many people may say “a will is an extravagance!”

In this column, I would like to explain the fundamentals of wills (standard format wills) in an easy-to-understand way.

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