Singapore-Business-ho no Essence (Introduction to Singapore Business Law)

This book offers the first overview of Singapore business law in the Japanese language. It is based on extensively revised Japanese-language reference materials used in Asian Business Law Seminar 1, a foreign language course I organized and taught at the University of Tokyo as part of its Education Program of Asian Law.
 
The purpose of the course is to offer those who aspire to careers as lawyers and in-house corporate counsel in Asia exposure to the essentials (or what we call, the “essence”) of Singapore law and the common law tradition in which Singapore law is rooted. In international corporate legal practice, a working knowledge of the English common law tradition is essential. Singapore law, in particular, is increasingly used especially in Asia as the governing law for business contracts in the international corporate transactions; international litigation and arbitration with a Singapore connection are also on the rise. Further, the establishment of regional headquarters in Singapore by Japanese and other foreign companies has proceeded apace, and a basic understanding of Singapore law has become extremely important for practitioners in Japan. In this course, we focus on the areas and issues in Singapore law of practical relevance for business.
 
Until recently, a key obstacle to broader study of Singapore law in Japan is the absence of introductory texts or treatises on the subject in Japanese. Even setting aside the linguistic barrier, the original English language texts are rarely easily accessible in Japan. Although major law firms and professional service firms have made some explanatory texts publicly available, these are usually targeted at practitioners and would be of limited use to complete beginners. To fill this gap, this book aims to present in a single handy volume the basic essentials relevant to business practice, with the chapters and contents organized using the essentially same structure with the abovementioned University of Tokyo course.
 
Following an introduction that explains the significance of studying Singapore law, its features, and the overall picture, the book covers Contract Law (by Associate Professor Eriko Taoka, Rikkyo University), Property Law (Associate Professor Kengo Itamochi, Kobe University), Company Law (Associate Professor Masanori Wakita, Tohoku University), Finance and Security (by Associate Professor Itamochi), Fiduciary Duties (Assistant Professor Alan Koh, Nanyang Technological University, Singapore), Tort Law (Associate Professor Shuichi Takahashi, Senshu University), and Dispute Resolution (Mr Shuhei Otsuka, Partner at Rajah & Tann). In addition, there are practical columns (led by Mr Naoki Okamoto, Partner at Midosuji Legal Profession Corporation) throughout the book.
 
The contributors to this book are primarily up-and-coming young and mid-career researchers and practitioners, with either specific expertise in Singapore law itself or otherwise well-versed in specific legal fields of common law jurisdictions. Together with Mr. Okamoto, with whom the book was first conceived, and Associate Professor Itamochi, who served co-lead editor with me, I decided to focus on the essential aspects of business law and by integrating the practical and the scholarly as much as possible, but it was not an easy road. Editorial discussions were frequent and intense, and the authors were called upon to make multiple rounds of revisions to their manuscripts. The efforts of my co-editors deserve special mention. Assistant Professor Koh, who taught as one of the lecturers in the University of Tokyo course and who is fluent in Japanese, carefully reviewed the authors’ manuscripts, and shared with the authors aspects of Singapore’s culture, legal history, and business and legal thinking to fill in gaps and offer suggestions on the content. Mr. Otsuka and Mr. Okamoto, Japanese attorneys at law with extensive knowledge and experience in supporting Japanese businesses in Singapore, offered useful suggestions from the practitioner’s perspective.
 
With the team’s contributions, the book is to the best of my knowledge without parallel in accuracy and coverage. Nevertheless, covering a wide range of topics in its 300-odd pages inevitably entails some sacrifices in depth of analysis. Despite these limitations, I hope that readers will put aside their preconceptions about Singapore and common law and read this book with the intention of first enjoying the exotic atmosphere of the country and its legal system. I recommend that you then reread the book from your own perspective, comparing it with Japanese law, and consulting the references as appropriate to deepen your understanding.
 
To achieve publication in time for a new semester, the authors have risen to the occasion splendidly, working with alacrity despite the heavy burden. The authors welcome feedback from readers to improve the content, and would be grateful for any comments or suggestions.
 
Despite budget constraints, the publication of this book received financial support from the University of Tokyo through its Education Program of Asian Law. With this funding, we were able to make this book affordable for students. I would like to take this opportunity to express my deepest gratitude.
 

(Written by HIRANO Haruo, Professor, Graduate Schools for Law and Politics / 2023)