Achilles’ Heel To The Business Ecosystem And Legal Reform In Japan

Japan had developed its economic greatly after the World War II, its traditional business model won the focus of the world. However, it was exactly because of this close, informal rules oriented business model that made Japan lack of creative spirit. When stepped into 1990 s, Japan lost her leadership in the era of information. Hence, the emerging economies were eager form an economic reform for a more disciplined and dynamic business ecosystem. This paper took Livedoor hostile takeover and Livedoor Scandal as illustration to analyze the fetter to the reform of Japan’s business ecosystem, and demonstrated the endeavor of Japan’s juridical system. At last, the paper contrasted the feature of China’s ecosystem with that of Japan, then made some rational suggests to china’s economic reform by reference of Japan’s reform on Company Law.In the first chapter, the paper reviewed the case of Livedoor’s hostile takeover and the scandal of market fraudulence, and then introduced the relevant rules in Securities Exchange Act in Japan. The paper held that the judgment of Tokyo Court to Livedoor on the scandal of market fraudulence was unfair according to the theory of market fraudulence.In the second chapter, the paper firstly introduced the traditional business ecosystem of Japan, analyzed the reason of lacking creative from different aspects, such as the doorsills of entrepreneurship, pension system, socio-cultural value. Then introduced the transplantation of Delaware Law after the case of Livedoor to demonstrate the endeavor of Japan’s juridical system.The third chapter mainly analyzed the business ecosystem of China from Securities Exchange Act and the Company Law, demonstrate the informal rules in financial supervision. Then made rational suggestion to china’s economic reform.