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Murakami vindicated by Japan's first successful hostile takeover

Business establishment withholds recognition of historic achievement

| Japan
Japan's corporate establishment owes Yoshiaki Murakami, pictured here, recognition for the transformation he has helped bring about in the market for corporate control. (Photo by Kaisuke Ota)

Stephen Givens is a corporate lawyer based in Tokyo.

At the end of July, after enduring eight months of dogged resistance from management, and 15 years after his arrest on dubious insider trading charges, Yoshiaki Murakami took control of Japan Asia Group (JAG) in what deserves to be recorded as Japan's first successful hostile corporate takeover.

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