Declaration of State of Emergency – Impact on Real Estate Business

The Japanese government, through Prime Minister Shinzo Abe, declared a state of emergency (Kinkyu jitai sengen) on 7 April 2020, effective for one month from 8 April 2020 until 6 May 2020. This declaration was made pursuant to Article 32 of the Act on Special Measures for Pandemic Influenza and New Infectious Diseases (Act No. 31 of 2012) (the “Act”).