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  "domain": "finance",
  "title": "Carve-out and divestiture process in Japan",
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  "frontmatter": {
    "title": "Carve-out and divestiture process in Japan",
    "aliases": [
      "carve-out-divestiture-japan",
      "Japan carve-out process",
      "Japan divestiture",
      "Japan spin-off",
      "事業承継 カーブアウト"
    ],
    "domain": "finance",
    "type": null,
    "created": "2026-05-25",
    "last_updated": "2026-07-29",
    "last_tended": "2026-07-29",
    "review_by": "2027-01-29",
    "confidence": "likely",
    "tags": [
      "finance",
      "M&A",
      "carve-out",
      "divestiture",
      "spin-off",
      "TSA",
      "asset-deal",
      "share-deal",
      "tax"
    ],
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    "sources": [
      "https://www.meti.go.jp/english/press/2023/0419_002.html",
      "https://www.meti.go.jp/policy/economy/keiei_innovation/keizaihousei/fair-ma-rule/ma-guideline-publications.html",
      "https://www.fsa.go.jp/en/laws_regulations/faq_on_fiea.pdf",
      "https://www.nta.go.jp/english/index.htm",
      "https://www.jftc.go.jp/en/policy_enforcement/mergers/index.html",
      "https://www.meti.go.jp/policy/economy/keiei_innovation/keizaihousei/saihenzeisei/spin-off.html",
      "https://www.meti.go.jp/press/2023/02/20240214006/20240214006.html",
      "https://www.japaneselawtranslation.go.jp/en/laws/view/4481/en",
      "https://www.sony.com/en/SonyInfo/IR/news/20251001_E.pdf"
    ]
  },
  "summary": "A Japanese carve-out separates a business unit from a parent and routes it to a new owner (trade sale), a new listed entity (IPO spin), or distributed shareholders (stock-distribution / demerger). The mechanical choice between asset deal vs share deal vs company-split (会社分割) vs stock-distribution dr",
  "headings": [
    "Carve-out and divestiture process in Japan",
    "Overview",
    "Structure decision matrix",
    "Asset deal vs share deal",
    "Stock-distribution vs trade sale",
    "TSA — transition services agreement",
    "Tax considerations",
    "Carve-out workstreams",
    "Verified public example",
    "Research checklist"
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