The Japan Fair Trade Commission ("JFTC") amended the "Guidelines to Application of the Antimonopoly Act Concerning Review of Business Combination" ("Guidelines") and the "Policies Concerning Procedures of Review of Business Combination" ("Policies") on December 17, 2019.  The Guidelines were originally prepared in 2004 and the Policies in 2011. The amendments of the Guidelines and Policies this time ("Amendments") were made pursuant to the Cabinet decision: "Growth Strategies Action Plan" and "Growth Strategies Follow-Up" made on June 21, 2019, including to update rules for merger review by the end of 2019 in order to conduct review appropriately in accordance with developments in the
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