1. Types of Japanese corporate reorganisation
1.1. mergers
1.1.1. triangular mergers
1.2. corporate splits
1.3. share exchanges
1.4. business transfers
1.5. qualifying corporate distributions
1.6. capital contributions
1.7. post incorporation contributions
2. Tax aspects of Japanese mergers
2.1. treatment of tax qualified transactions
2.1.1. carry over of losses of the Ceasing Company
2.1.2. tax book value carry over of assets of Ceasing Company
2.2. taxation of non tax qualified mergers
2.2.1. taxation of Ceasing Company
2.2.1.1. recognition of intangible assets for tax purposes
2.2.1.1.1. Japanese "tax goodwill" - the '資産調整勘定' or 'Asset Adjustment Account'
2.2.1.1.2. useful lives of separable intangbile assets for tax purposes
2.2.1.2. rebasing of assets to market value
2.2.1.3. tax compliance
2.2.1.3.1. final tax return of Ceasing Company
2.2.1.4. losses
2.2.1.4.1. use of losses at the time of merger against revaluation gain
2.2.1.4.2. carry over of unused losses
2.2.2. taxation of Surviving Company
2.2.2.1. amortization of goodwill in new business
2.2.3. taxation of Shareholders of the Surviving Company
2.2.3.1. taxation of deemed dividends
2.3. different forms of merger defined for tax qualification purposes
2.3.1. Merger in an Un-affiliated Group
2.3.1.1. tax qualification criteria
2.3.1.1.1. Business Reciprocity Criteria
2.3.1.1.2. Business Scale Criteria
2.3.1.1.3. Carry Over of Specified Officers Criteria
2.3.1.1.4. Continuity of Employment Critieria
2.3.1.1.5. Continuity of Business Operations Criteria
2.3.1.1.6. Continuity of Share Ownership Criteria
2.3.1.2. definition
2.3.2. Merger Within an Affiliated Group
2.3.2.1. tax qualification criteria
2.3.2.1.1. Continuity of Share Ownership Criteria
2.3.2.1.2. Continuity of Employment Critieria
2.3.2.1.3. Continuity of Business Operations Criteria
2.3.2.2. definition
2.3.3. Mergers Within a Wholly Owned Group
2.3.3.1. tax qualification criteria
2.3.3.1.1. Continuity of Share Ownership Criteria
2.3.3.2. definition
2.3.4. criteria common to all tax qualified transactions
2.3.4.1. "No boot" criteria
2.3.4.1.1. exceptions to the "No boot" criteria
3. Legal aspects of Japanese mergers
3.1. common company law issues
3.1.1. corporate type and permissible transactions
3.1.2. flexibility of consideration
3.1.2.1. use of cash consideration
3.1.2.1.1. use of cash consideration
3.1.2.2. use of share consideration
3.1.2.2.1. of Surviving Company
3.1.2.2.2. of parent of Suriving Company
3.1.2.3. impact of choice of consideration on tax qualification of transaction
3.1.3. triangular mergers
3.1.4. share option rights
3.1.4.1. continuation of share option rights
3.1.4.2. rights to repurchase share options
3.1.5. procedural simplification of corporate reorganisations
3.1.5.1. Simplified Mergers etc
3.1.5.2. Abbreviated Mergers etc
3.1.6. set aside of merger or other corporate reorganisation transactions
3.2. legal aspects of mergers
3.2.1. succession to rights and obligations of ceasing company
3.2.2. dissolution process for ceasing company
3.2.3. timing of merger
3.2.4. mergers with different types of entity
3.2.4.1. prohibition against merger with foreign companies
3.2.4.2. flexibility in merger between types of Japanese company
3.2.5. mergers of insolvent companies
3.2.6. protection of creditor and shareholder rights in a merger
3.2.6.1. obligation to notify creditors
3.2.6.2. dealing with creditor objections
3.2.6.2.1. repayment
3.2.6.2.2. collateralisation
3.2.6.2.3. trust
3.3. legal aspects of M and A transactions
3.3.1. minority squeeze out transactions
4. Accounting aspects
4.1. relevant accounting standards
4.1.1. Accounting Standards Relating to Business Combinations
4.1.2. Accounting Standards Relating to Business Splits
4.1.3. Practice Guidelines Relating to Accounting Standards for Enterprise Combinations
4.2. purchase accounting vs merger accounting
4.2.1. purchase accounting
4.2.1.1. identification of acquired enterprise
4.2.1.2. calculation of acquisition cost
4.2.1.3. allocation of acquisition cost to assets and liabilities
4.2.2. formation of enterprise under co-operative control
4.2.2.1. special case of merger accounting
4.2.3. transactions under common control
4.2.3.1. accounting for intra-group reorganisatsions
4.3. accounting recognition of intangible assets
4.3.1. seperable and inseparable intangibles
4.3.2. recognition of accounting goodwill
4.3.3. differences between accounting goodwill and "tax goodwill"
5. Tax aspects of other corporate reorganizations
5.1. similiarities and differences with taxation of Japanese mergers
6. Other tax issues in Japanese corporate reorganisations
6.1. thin capitalization and debt push down
6.2. withholding taxes on acquisition funding
6.3. incorporation of acquired entities in a Japanese consolidated tax group
6.4. post acquisition reorganisations in a wholly owned Japanese group
6.4.1. criteria for tax qualified reorganisations in a wholly owned group
6.4.2. tax deferral for intra group asset transfers
6.5. optimising capital structure
6.5.1. taxation of shareholder distributions