Steptoe has a proven track record of helping Japanese businesses succeed in an increasingly complex global environment. For decades, we have guided leading Japanese companies and global corporations with operations in Japan through high-stakes challenges involving antitrust, trade, technology, and regulation. Our experience spans internal and government-facing investigations, export controls, sanctions compliance, cross-border disputes, US litigation, and strategic transactions.
Japanese companies entering or operating in the United States and Europe face unique legal and regulatory hurdles. The US system imposes rigorous compliance obligations, from export controls and sanctions to foreign investment reviews under the Committee on Foreign Investment in the United States (CFIUS). Litigation risks are significant, with extensive discovery requirements and exposure to large-scale commercial disputes. Companies also must navigate evolving data privacy and cybersecurity laws, environmental, social, and governance (ESG) and supply chain regulations, and industry-specific enforcement in sectors such as automotive, shipping, semiconductors, and financial services. In distressed situations, US bankruptcy and restructuring procedures differ markedly from Japanese frameworks, requiring careful coordination to protect assets and maintain business continuity.
At the same time, global companies investing or expanding in Japan encounter their own challenges, including navigating Japanese regulatory requirements, market access issues, and local governance standards. Steptoe works closely with best-in-class Japanese law firms to provide seamless, coordinated advice that combines our international regulatory and litigation experience with local insight. This collaboration ensures that clients receive comprehensive support for cross-border transactions, compliance programs, and dispute resolution.
Our integrated approach enables us to deliver solutions across borders, whether assisting with sanctions wind-down measures, advising on semiconductor investment strategies, or defending Japanese businesses in global investigations. Our experience spans regulatory advocacy, enforcement defense, and strategic counseling, helping clients anticipate challenges and achieve growth objectives in an interconnected global economy.
Noteworthy
- ALB Japan Awards, Japan Practice Foreign Law Firm of the Year (Award in 2021, Shortlisted in 2023-2024)
- Chambers Asia-Pacific, International Trade/WTO, Asia-Pacific Region (2009-2026)
- Chambers Global, Disputes, International & Cross-Border Capabilities, US (2019-2025)
- Chambers Global, International Trade/WTO, Global Market Leaders (2008-2025)
- Chambers Global, International Trade/WTO, Asia-Pacific Region (2019-2025)
- Chambers Global, International Trade/WTO, Europe-wide (2019-2025)
- Chambers Global, Corporate Crime & Investigations, US (2017-2025)
- Chambers Global, Investigations & Enforcement: International & Cross-Border, US (2020-2025)
- Chambers Global, FCPA, US (2017-2025)
- Chambers Global, Corporate Investigations: Anti-Corruption, Global (2015-2018, 2022, 2025)
- Chambers Global, Corporate Crime & Investigations (2025)
- Global Investigations Review (GIR) 100, Top 30 Firms for Investigations Worldwide (2015-2024)
Representative Matters
- Defending Japanese auto parts maker Sanoh Industrial in the US Department of Justice’s (DOJ) criminal investigation of an international cartel involving steel tubes, as part of DOJ’s broader auto parts investigation. Rapid investigation uncovered and permitted an amnesty application, which was granted in 2015. We conducted the initial investigation, handled the amnesty application, and continue to advise regarding DOJ’s ongoing criminal case against a co-conspirator company, Maruyasu Industries. We are also handling the company’s defense of follow-on civil damages claims in the sprawling In re Auto Parts Antitrust Litigation pending in Detroit, MI.
- Conducting an internal investigation for a global insurance company based in Japan following whistleblower allegations made in one of its US affiliates related to sanctions compliance, employment retaliation, and corporate governance claims. Steptoe has conducted a thorough review of documents and conducted dozens of witness interviews as part of its investigatory process.
- Retained as the global sanctions and export controls counsel for a major Japanese corporation. We have advised the client regarding the complex set of regulations impacting their historic business with sanctioned countries the measures they implemented to wind-down that business in accordance with all applicable sanctions.
- From 2006 onward, we have defended JAL in air cargo and air passenger government investigations in the US and Europe, and in private damages follow-on claims litigation.
- Defended NYK Group, a leading Asian shipping group, in multiple cases, including in the RoRo car carrier cartel investigation and related follow-on private damages claims in various jurisdictions.
- Acting for a major Japanese auto parts maker in securing immunity in a cartel investigation by the European Commission in follow-on damages claims brought against occupant safety system manufacturers by various claimants, including Peugeot Citroen and Fiat. Claims are being brought against a Japanese auto parts client for an alleged global cartel participation causing damage to PSA for overcharging of auto parts. We are coordinating defense of the claims across various jurisdictions with key issues including: (i) limitation issues; (ii) cross-jurisdictional relevance of foreign investigations and decisions; and (iii) access to foreign authority files.
- Successfully defended All Nippon Airways in the air cargo cartel investigation by the European Commission, and successfully defending against private damages claims brought in the UK and in defending it in the pending Dutch civil courts.
- Provide assistance to a Japanese shipping company as it attempts to restructure its arrangements with joint ventures, to ensure compliance with US, EU, and UK sanctions. Our work involves extensive legal assessments in a complex joint venture structure, alternative financing arrangements, and various different transactional scenarios under consideration. Secondary sanctions risks have been addressed. Steptoe's London office also provides extensive corporate/commercial contract assistance.
- Counsel to the CEO of the American subsidiary of a Japanese tire and rubber company in connection with DOJ Antitrust Division's marine hose investigation.
- Advised SB Investment Advisors Limited (SBIA), the entity that manages the SoftBank Vision Fund (Vision Fund) owned by the SoftBank Group Corp. is a Japanese multinational conglomerate holding company. SBIA retained us to investigate the financial crime risks associated with the Vision Fund’s investment/acquisition targets. As part of our SoftBank assignment, we reviewed for each Vision Fund investment/acquisition target many hundreds of documents and interviewed key staff at the candidate portfolio company before advising SBIA on the financial crime risks posed by the particular company and any risk mitigation measures we believe to be needed.
- Advised a Japanese semiconductor manufacturing company on a US investment involving the formation of a consortium with US and international partners to develop a new semiconductor manufacturing facility. The firm conducted a comprehensive red flag analysis across multiple legal domains, including CFIUS and Defense Counterintelligence and Security Agency (DCSA) considerations, and continues to provide detailed guidance as the transaction progresses. We also drafted an analysis of CFIUS jurisdictional issues that was shared with other consortium members.
- Advise a Japanese global trading company listed on the Tokyo Stock Exchange, on US export controls and sanctions matters.
- Successfully defended a Japanese bank in the Libor/Tibor cartel investigation by the European Commission.
- Advise an Asia Pacific logistics company, owned by a Japanese company, in a voluntary disclosure to OFAC, following an internal investigation of their export controls and sanctions compliance program, updating and revising global compliance policy.
- Advise a global asset management company, owned by one of the largest financial institutions in Japan, on compliance with US export controls and sanctions.
- Advise a Japanese manufacturer of electronic components listed on the Tokyo Stock Exchange, on export control compliance arising from recent changes to the US Export Administration Regulations.