Japan is changing from a society tightly ruled by proactive laws into one where economic activities are supervised only on a retrospective basis. This is the result of progress in administrative and fiscal reforms, and it is one reason behind the proposal to overhaul the judicial system.

The ongoing series of changes to the Commercial Code is also aimed at easing governmental regulations. However, I would like to warn here that some people are beginning to call for reversing the trend.

As exemplified by cases in Britain, France and Germany, the world has witnessed substantial moves toward easing Commercial Code regulations.