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Company Liquidation in Japan
Updated on Thursday 21st December 2017 Rate this article
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A company liquidation in Japan, also named winding up, refers to the procedure through which the assets of a business entity are liquidated and the entity is closed, or deregistered. In this article, our company formation advisors in Japan explain the different aspects involving such a procedure in the country.
Company liquidation procedure in Japan
In order to effectuate a company liquidation in Japan, the following procedure is required:
• Preparing the assets inventory and the balance sheet on the dissolution date, as well as the acquisition of approval decided in the shareholder meeting;
• Drawing up a public notice which should contain a report on credits and a notification forwarded to the known creditors. Our company registration consultants in Japan can offer more details on this public notice;
• Submitting the dissolution notification of the business entity to the government tax agency;
• Filing a final return for the dissolution business year;
• Collecting the credits, liabilities repayment and conversions into cash of real estate;
• Determining and distributing the residual assets;
• Making up a statement of accounts for the business year of the liquidation and an approval acquisition of the liquidation completion;
• Submitting the final returns for the business year of the liquidation;
• Registering the liquidation completion;
• Submitting the liquidation completion notification to the government tax agency.
Special liquidation procedures in Japan
Special liquidation procedures in Japan can be accessed only by stock companies. If a debtor wishes to go through such procedures, the debtor’s shareholders have to pass a resolution for the dissolving of the debtor first.
This resolution needs the positive vote of two-thirds or more of the shares, after which the business must name a liquidator. Our Japan company formation specialist can provide further details on this matter.
For more about a company dissolution in Japan, or if you are interested in setting up a company in Japan, we can help you with the right guidance; please contact us.
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Call us now at +81 03-6414-4102 to set up an appointment with our company formation agents in Tokyo, Japan. Alternatively you can incorporate your company without traveling to Japan.
As our client, you will benefit from the joint expertize of local and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Japan.
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