This book analyzes the modern trend in the Japanese M and A market and reveal from different angles the process of convergence to a new monitoring model of the corporation: 'the market for corporate control'. A prima facie verification is based on the examination of the evolution of the M and A environment in the last twenty years including statistics, analysis of cultural and structural impediments, and economic-political reforms. Then, the analysis of seventeen cases of hostile takeover and of the process of transformation of the regulatory framework governing takeovers related legal issues particularly focused on the important METI-MOJ Guidelines of 2005, will further corroborate the final argument. Inside the academic debate of theories of convergence and path-dependence, the conclusions of the author ultimately support the hypothesis that the Japanese corporate control has converged to a 'hybrid Americanized version of the model of market for corporate control'. Dr. Colcera's book is based on four years of doctoral research at the prestigious Kyushu University. Behind legal reasoning and empirical demonstrations, pictures a Japanese company in transformation, the old myth of the internal-monitoring-based 'Company Community' has been eclipsed by a vibrant market for corporate control which has threatened the very foundations of Japanese corporate governance.