Employees in Japan must be paid at least once per month and on a specified date. The wage must also be at least the minimum wage guaranteed by the prefecture where the employee works. Employers are allowed to deducted social insurance premiums, taxes and other expenses from an employee’s wages. Wages may be deposited directly into an employee’s bank account with the employee’s approval.
In addition to the subsidies, tax breaks and other incentive programs offered by the national Japanese government, the local Osaka prefectural government also offers programs to encourage foreign businesses to establish a presence in the prefecture. For example, foreign businesses expanding into Osaka can get subsidies of up to 5% off purchases of land for a headquarters building or up to 1/3 off of their rent when renting. Renovating an old factory or R&D facility can also results in a subsidy.
In order to attract foreign businesses to Japan, the Japanese government has enacted laws specifically designed to provide an incentive for parties who wish to expand their business into Japan. One such law is the Act for Promotion of Japan as an Asian Business Center, which was put into effect in November of 2012.
Splitting a company can be a valuable strategic tactic for corporations that want to change the focus of their business or split into two more specialized companies. There are two types of company splits in Japan: absorption type splits and incorporation type splits.