About Our Firm
Response to Securities Litigation
Securities litigation, generally, refers to damages claims brought by shareholders when a listed company’s securities reports or similar disclosures contain material misstatements that lead to a decline in the company’s share price.
Such litigation requires complex and highly specialized arguments and evidence regarding the causal relationship between the alleged misstatements and the share price decline, as well as the resulting damages.
Choosing the Right Law Firm Is Critical
Listed companies that become defendants in securities litigation are typically represented by major law firms and/or highly experienced legal teams that conduct organized and meticulous defense efforts.
Accordingly, for shareholders to achieve satisfactory outcomes, highly sophisticated litigation strategies—supported by extensive practical experience and a deep understanding of financial regulatory law—are essential.
Moreover, many major law firms already represent listed companies as clients and therefore are often unable, due to conflicts of interest, to accept engagements to represent shareholders in actions against those companies.
Our Securities Litigation Support Team offers the following strengths,
enabling us to effectively address the challenges faced by shareholders in securities litigation.
1. Deep Expertise with Relevant Legal and Regulatory Frameworks
Our firm maintains a strong commitment to improving corporate governance and ensuring the fairness of capital markets. We are actively involved in the activities of the Japan Corporate Governance Network, a non-profit organization dedicated to promoting corporate governance, and we closely monitor the latest developments in this field. In addition, several of our attorneys have professional experience at the Financial Services Agency (FSA). As a result, many of our lawyers possess deep expertise in the operation of disclosure regulations and misstatement regulations, particularly under the Financial Instruments and Exchange Act.
2. Close Collaboration with Experts
Securities litigation involves numerous legal and economic issues, particularly regarding damages and causation arising from share price declines attributable to alleged false statements in securities reports and similar disclosures.
Our firm works closely not only with legal scholars but also with economists, certified public accountants, and other financial experts to develop and present rigorous and well-substantiated arguments on damages and causation.
3. Extensive Experience and Advanced Litigation Strategies in Actions Against Listed Companies
Our firm has handled numerous large-scale disputes against listed companies, and each of our attorneys brings substantial courtroom experience. In highly specialized litigation, the choice of counsel is critically important. We have a strong track record representing shareholders in complex disputes and, through close collaboration with experts, have consistently achieved outcomes that meet or exceed our clients’ expectations.
As reflected in our track record, we have secured a number of groundbreaking decisions squarely addressing issues of corporate governance and market fairness, while representing shareholders in a wide range of matters. In cases involving share valuation, we submit expert opinions from economists and certified public accountants and, where appropriate, present market-model-based analyses of listed equities. To address the structural challenge of insufficient evidence on the shareholder side (Japanese litigation does not have robust discovery procedures, so parties must generally obtain and submit evidence their own evidence), we also employ a full range of legal tools, including evidence preservation procedures, inspection of accounting books and records, and the appointment of court inspectors.
4. Service for Domestic and
International Clients
Our firm represents not only domestic investors but also a substantial number of international institutional investors. We have extensive experience acting on behalf of overseas institutional investors in litigation against listed companies.
Based on this experience, we are able to provide comprehensive, multi-faceted support grounded in both domestic and international perspectives, even in highly complex matters.
Our Firm’s Track Record
Our firm has been involved in a wide range of matters, with a primary focus on business law. One of our distinguishing features is that we handle not only cases representing companies but also numerous matters in which we represent shareholders in disputes against companies.
We have extensive experience representing shareholders in a variety of contentious matters against companies. Many of these cases have squarely addressed the proper state and fairness of corporate governance and have resulted in groundbreaking judicial decisions.
Our principal track record includes the matters listed on the right.
In each of the following cases, we worked closely with leading experts, including submitting expert opinions from legal scholars and economic specialists. In Japanese litigation, there is a structural challenge in that relevant evidence is often concentrated on the company side, leaving shareholders with limited access to proof. Our firm effectively addresses this challenge by employing a full range of legal tools on behalf of shareholders, including evidence preservation, inspection of accounting books, and petitions for the appointment of inspectors.
Key Attorneys with Outstanding Experience
Ushijima & Partners has a team of 68 attorneys equipped with strong strategic capabilities.
Partner
Shin Ushijima
Bar Association / Qualification : Japan (1979)
Partner
Masaki Fujii
Bar Association / Qualification : Japan (2000)
Partner
Hiroyuki Yamauchi
Bar Association / Qualification : Japan (2009) , New York (2020)
Partner
Hirotaro Momota
Bar Association / Qualification : Japan (2013)
Ushijima & Partners
Why Clients Choose Ushijima & Partners
“Delivering Perfect Work”
Since our founding in 1985, our firm has adhered to the motto: “Delivering Perfect Work.”
By “perfect work,” we mean thoroughly considering what our clients would want if they themselves were the lawyers, and then devoting our full efforts to achieving that objective.
Firm Overview
1. Appropriate and Prompt Resolution of Share-Related Matters
In calculating damages related to stock price declines, it is often necessary to work closely with economic experts such as economists and certified public accountants.
Accordingly, it is essential not only to have access to such experts but also to possess sufficient expertise to engage in substantive and effective collaboration with them.
2. One of Japan’s Leading Full-Service Business Law Firms
Where necessary, matters must be handled through specialized and expedited court proceedings, including corporate litigation, commercial provisional remedies, and non-contentious cases.
To ensure appropriate and timely responses:
• the responsible attorneys must possess extensive knowledge and experience;
• large volumes of related materials and accounting books must be reviewed quickly and accurately; and
• the firm must have sufficient personnel resources.
Most cases in this field are highly complex and contentious. Effective and swift resolution requires strong commitment to achieving results.
3. Trusted by Numerous International Clients
Ushijima & Partners is the sole member firm in Japan of the globally recognized legal networks Multilaw, ELA, and LAW. We handle a substantial number of matters for foreign corporate clients.