S&C Corporate Partner Keiji Hatano Authors Article on Enhancement of Securities Disclosure

January 7, 2020

S&C corporate partner Keiji Hatano, managing partner of S&C’s Tokyo office, recently authored an article in Shoji Homu, Japan’s most prestigious legal publication, on enhancement of securities disclosure. The article, titled “Legal Issues and Practical Solutions Concerning Enhancement of Narrative Disclosure,” was co-authored with three lawyers of Japanese law firm Mori Hamada & Matsumoto. In it, the authors discuss various issues and practical solutions related to securities disclosure, including risk factors, MD&A, non-GAAP measures and financial targets, in the context of a recent amendment to Japanese rules to enhance securities disclosure. The article introduces U.S. laws and practices in the area, which are more developed than those in Japan.