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Capital Markets

10 December 2019
Takashi Tsukioka Does Interest Rate Restriction Act apply to corporate bonds?

Japan - Nagashima Ohno & Tsunematsu

Interest rates applicable to loans made in Japan are subject to the Interest Rate Restriction Act, which is Japan's usury law. For decades, legal experts and others questioned whether this regulation also applied to corporate bonds, thereby affording bond issuers the same protections against high interest rates as those enjoyed by borrowers. This longstanding question appears to have been resolved by a recent Tokyo District Court judgment.

Author: Takashi Tsukioka
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