일본 회사법상의 신주예약권에 관한 연구

Abstract

A Study on the Warrants under the 2005 Japanese Company LawYou, Young Ihl In 2001, the Warrants were provided in the Japanese Commercial Law for the first time, and in 2005 Japanese Company Law provisions for Warrants have been changed in great parts. Warrants have various useful functions. Warrants can be used to diversify the means of corporate funding, incentives for directors and employees, and a defensive tactics against hostile tender offer. After their introduction, many Japanese scholars have focused their works on the use of Warrants as a poison pill, the most widely adopted defensive tactics in USA. The purpose of this paper is to examine the provisions on Warrants in the 2005 Japanese Company Law in order to suggest lawmaking materials in introducing Warrants in Korea. This paper consists of as follows: I. Introduction II. Concept of Warrants III. Regulation of Warrants under the 2005 Japanese Company Law IV. Warrants and Poison Pill V. Conclusion - Necessity of introducing of Warrants in Korea In conclusion, the writer argues that we need to provide warrants explicitly in Korean Commercial Law, and then we can use it as a poison pill against hostile tender offer. And in considering the introduction of Warrants in Korea, Japanese experiences will be undoubtedly helpful to Korea.