In this paper, Hiroaki Ishigaki explained the latest trends in JFTC's review criteria, using major business combination cases in FY2021.

While there have been no major changes in the outlook for antitrust merger regulation, year by year the content examined for market definition and restriction of competition has become more detailed. In addition to conducting interviews and questionnaires, there is a continuing trend to pro-actively promote merger reviews that use economic analysis.

Ishigaki explained that while a simple economic analysis is always carried out in cases involving market share of a certain level, companies need to be aware of the potential increase in the risk of review delays and regulatory risks, depending on the facts of the merger project.