On May 14, 2019, Professor Otsuka of the law School of Waseda University gave a wonderful lecture on the amendment to the Share Repurchase System and “the Japan Company Law” to teachers and students of our institute at Xueyuan Road Campus. The lecture was hosted by the Civil and Commercial Economic Law School, chaired by Professor Geng Lihang of Business Law Institute, translated by Professor Chen Jingshan, Deputy Editor in Chief of the Journal from China University of Political Science and Law, reviewed by Professor Wu Rihuan and Professor Zheng Jianing of the Business Law Institute. Many teachers and students of the Business Law Institute attended.

First of all, Professor Otsuka introduced the provisions of the Japan Company Law on the Share Repurchase and the process of relevant amendments, and deeply analyzed the rationality of allowing share repurchase. He believed that there was no reason for Japan to prohibit share repurchase long ago and the relevant provision should be repealed. Then, he talked about the source of funds on share repurchase under Japan Company Law and analyzed the logical relationship between fund reduction, performance and dividend. At last, he summarized the Japanese experience in the field of share repurchase, and looked forward to economic growth in Japan in the future. He sincerely hoped that China could learn from Japan’s experience, and avoid any adverse impact on the economy by reasonably applying the share repurchase mechanism of the joint-stock company.

After Professor Otsuka’s speech, the host Professor Geng Lihang extend sincere gratitude to Professor Otsuka for his wonderful speech. Professor Wu Rihuan, Professor Zheng Jianing and Professor Zhang Zixue, who attended the forum, raised their own questions based on China’s practice and had a good academic discussion and exchange with Professor Otsuka.

At this forum of experts, Professor Otsuka gave lectures on the relevant issues of share repurchase in the amendment of “the Japan Company Law” to teachers and students and made a detailed summary of the experience of Japan. His lecture provided a wealth of information, aroused the audience’s thinking and resonance, and provided inspiration for the future research of China business law scholars.