Case Experience | Our Experts | Alpha Financial Experts K. K.

Makoto Ikeya | Managing Director

Appraisal litigation

Stock price appraisal litigation in re FamilyMart (Tokyo District Court)- Expert opinion report on the fair price of stock
Stock price appraisal litigation between a major Japanese internet company and institutional investors (Tokyo District Court, pending)- Expert opinion report on the fair price of stock
Stock price appraisal litigation between a electronics company and an institutional investor (Tokyo District Court, pending) – Expert opinion report on the fair price of stock
Stock price appraisal litigation between a metal material company and a trading company (Kobe District Court, pending) – Expert opinion report on the fair price of stock
Criminal trial on a fraudulent act (Tokyo District Court) – expert witness (oral) on the value of stock that is used as debt collateral
Stock price appraisal litigation between a real estate company and a quasi-government financial institution (Fukui District Court)- Expert advisory on the valuation of stock
Tax litigation (Tokyo District Court, pending) – Expert opinion report on the fair price of class share
Stock price appraisal litigation between a sky resort development company and its shareholders (Sapporo District Court)- (Court appointed) Expert opinion report on the fair price of stock
Dispute resolution procedure between a major construction machinery company and its foreign joint venture partner – Expert report on the fair price valuation
Stock price appraisal litigation between a regional construction company and its shareholder (Hiroshima High Court) – Expert report on the valuation of stock
Stock price appraisal litigation between a foreign securities company and its shareholders (Tokyo District Court)- Expert opinion report on the fair price of stock
Dispute resolution procedure between a quasi-government institution and its joint venture partner- Expert advisory on the valuation of stock
Stock price appraisal litigation between an industrial machinery company and its shareholders (Tokyo District Court) – Expert report on the valuation of stock
Appraisal litigation between a mail order company and a global insurance company (Tokyo District Court)- Expert report on the valuation of the mutual aid insurance business
Stock price appraisal litigation between a major transporting company and its shareholders (Tokyo District Court) – Expert report on the valuation of stock
Asahi Group Holdings v. Pacific Equity Partners and Unitas Capital, Federal Court of Australia, settled on Nov. 17,2014 – Expert advisosry related to Rep and Warranty liabilities and damage
In re Appraisal of Toho Real Estate, Tokyo District Court judgement dated March 25, 2015 – Various expert report on the valuation of stock at issue
In re Appraisal of lntelligence, Tokyo High Court judgment dated October 19, 2010 – Expert report on the valuation of stock at issue
In re Appraisal of Tecmo, Tokyo District Court judgment dated March 31, 2010- Various expert reports on the valuation of stock at issue

Securities and M&A litigation

Market manipulation investigation by the Securities and Exchange Surveillance Commission – Market microstructure analysis and related advisory
Rep and warranty damage litigation between a temporary employment company and its shareholders (Tokyo District Court)- Expert report on damage due to the misrepresentation
Broker-customer litigation involving a Swiss investment bank, Tokyo District Court, etc. (pending multiple cases)- Various expert reports on the valuation of currency derivative products
Broker-customer litigation involving a French investment bank, Tokyo District Court (pending) – Expert report on the valuation of currency derivative products
Olympus securities litigation, Tokyo District Court, etc. (pending multiple cases) – Various expert reports on damage calculation
Seibu Railway securities litigation, Tokyo High Court judgment dated January 30, 2014, etc. – Various expert reports on damage calculation
IHI securities litigation, Tokyo District Court judgment dated November 27, 2014- Various expert reports on damage calculation
Derivative litigation involving Nissan Shatai, Yokohama District Court judgment dated February 28, 2012 – Expert report on the reasonableness of Nissan group’s cash management system
Livedoor securities litigation, Tokyo District Court judgment dated May 21, 2009- Various expert reports on damage calculation

Commercial dispute

SIAC arbitration between a Japanese pharmaceutical company and a foreign research and innovation organization – Expert advisory on a damage due to breach of licensing agreement
ICC arbitration between a Japanese pharmaceutical company and a Korean research and innovation firm – Expert advisory on damage due to breach of licensing agreement
JCAA arbitration involving a Japanese automobile OEM and its foreign distributor – Expert witness service on damage quantum
Suzuki v. Volkswagen, International Court of Arbitration – Expert services related to damage calculation
Hitachi Construction Machinery – Expert services related to damage calculation in its dispute with the US joint venture partner

Intellectual Property

A healthcare company in Japan – Expert advisory on damage in potential intellectual property litigation in US
Toshiba v. SK Hynix, Tokyo District Court, settled on December 19, 2014 – Expert services related to damage calculation
Patent infringement case involving a global consumer electronics company – Expert report related to damage calculation
NEC v. Tohma Japan, et al., Tokyo District Court judgment dated March 25. 2011 – Expert report related to damage calculation
Canon v. employee, Tokyo District Court judgment dated January 30, 2007 – Expert report related to valuation of employee’s invention (co-authored)
Nakamura v. Nichia, Tokyo High Court suggested settlement dated May 27, 2005 – Various expert reports related to valuation of employee’s invention (co-authored)

International Tax, Trade and Competition policy

Imabari Shipbuilding Company v. NTA- Matsuyama District Court judgment dated April 14, 2007 – Expert report on the valuation of arm’s length price range
JFTC investigation on a global semiconductor company regarding its business practice in Japanese market – Economic consulting services including market research and analysis
Anti-dumping investigation by the Ministry of Economy, Trade and Industry (METI) on a Japanese trading house and its foreign customers – Advisory and consulting services
International transfer pricing audit by National Tax Agency on a major electronics company – Expert report on economic issues and related advisory services
International transfer pricing audit by National Tax Agency on a auto-arts company – Expert report on economic issues and related advisory services

Publications

(Books)

Valuation of Stock in Dispute – Trends and Theories in Stock Appraisal Litigation in US and Japan (2nd print), Chuo Keizai, August 2020
“Economic Analysis for Securities Litigations: Studies for US and Japanese Cases and Approaches for Proving Damages”, with Satoru Kishitani and Yaye Nakano, Chuo Keizai, December 2009
“Case Studies of Securities Litigation – Liabilities of Misstatement”, Seibunsha, May 2011 (co-authored)
“Economic Analysis for Transfer Pricing: Attribution of Excess Profits and Intangible Asset Valuation”, with Nobuo Mori, Takefumi Suzuki, Yasunobu Suzuki, and Kei Maeda, Chuo Keizai, July 2008

(Articles/Working papers)

“Supreme Court Judgment on the Halliburton Case – Effectiveness of the efficient market hypothesis and methods for testing”, Shoji Houmu No. 2043
“Application of market model and event studies in the Company Act cases (part one and two)”, Shouji Houmu No. 1990 and No. 1991
“Damage analysis in IP litigation – an example of Apple v. Samsung”, Business Houmu, December 2012
“Tax and Accounting Issues in Valuing Intangible Assets”, Keiri Joho, Chuo Keizai, Oct-09
“Economic Approach for Fair Value Accounting”, Keiri Joho, Chuo Keizai, October 2009
“Issues around Misstatements and Damage”, Keiri Joho, Chuo Keizai, March 2009
“Research on Transfer Pricing Issues for the Pharmaceutical Industry”, A Research Project Sponsored by the National Tax Agency, with Satoru Kishitani, March 2007
“Application of a Range to Determine Whether Transfer Pricing is Arm’s Length”, Kokusai Zeimu, August 2006 (co-authored)
“Transfer Pricing and the Evaluation Method for Intangible Assets”, A Research Project Sponsored by the National Tax Agency, June 2006 (co-authored)
“How to Calculate and Who is Entitled to the Additional Profit from Location Savings?”, Kokusai Zeimu, December 2005
“Employee Stock Option Valuation: Impacts oflntroducing Lattice Models”, CFO Magazine, September 2005
“Economic Adjustment Methods in Transfer Pricing in Major Countries”, A Research Project Sponsored by the National Tax Agency, March 2005 (co-authored)
“Transfer Pricing and the Evaluation Method for Intangible Assets”, A Research Project Sponsored by the National Tax Agency, June 2006 (co-authored)
“How to Calculate and Who is Entitled to the Additional Profit from Location Savings?”, Kokusai Zeimu, December 2005
“Employee Stock Option Valuation: Impacts oflntroducing Lattice Models”, CFO Magazine, September 2005
“Economic Adjustment Methods in Transfer Pricing in Major Countries”, A Research Project Sponsored by the National Tax Agency, March 2005 (co-authored)