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Our Responses to Diversifying Business Needs

Our Responses to Diversifying Business Needs

The practice areas and the personnel structure of our office went through significant changes and expansion in response to the cataclysmic changes in economic environment surrounding the Japanese companies such as rapid globalization of Japanese economy after the Plaza Accord in 1985, the collapse of the bubble economy and the financial deregulation and liberalisation (the so-called “Financial Big Bang”).

For example, in the field of the corporate law, in addition to the traditional legal services we had been long offering to many client corporations such as providing legal advice on corporate management, advising on the steering of general meetings of shareholders and attending thereto and advising on important corporate actions that require certain statutory decision making procedures, we saw significant increase in demand for legal advice and/or drafting rules on such matters as compliance and corporate governance in a broad sense (including the duty of due care of good managers required by the law for directors). In the area of consolidation and/or re-organization of corporate business, we also had increased number of cases where we advised on large-scale M&As (mergers, stock transfers and assignments of business), conducted due diligence procedures and attended to contract negotiations.

Further, in the area of the financial law, there was also increase in the number of cases where we provided diversified legal services including provision of advice on construction of financial schemes and regulatory issues as well as documentation, demand for which was caused in response to the diversification of financial schemes and financial products available to or offered by financial institutions.

In the wake of such expansion of the practice areas, the number of attorneys belonging to our firm gradually increased as well.

During the period of financial crisis in 1990s triggered by the collapse of the bubble economy, Iwata Godo was deeply involved in various legal procedures required for disposition of a bankrupt financial institution, including establishment of a new bank for the purpose of liquidation of this bankrupt institution, assignment of its remaining business and other ensuing settlement procedures.

We also assisted a leading financial institutions in its efforts for final disposition of non-performing loans by such means as preservation and collection of claims through court procedures if necessary and provision of legal advice regarding the business reconstruction of the debtors. When the so-called “Servicer Act”, which was enacted in order to ensure smooth and proper management and collection of claims held by financial institutions, came into force in 1999, some of the attorneys of Iwata Godo were appointed as directors of servicers (debt collection companies) in accordance with the procedures stipulated in this act and they still continue to be involved in dept collection policies including the management aspects.
In 1996, the office moved temporarily to the Mitsubishi Building due to the reconstruction of the Marunouchi Building.

History of the Firm