Stare Decisis in Japan ??

(この面白いエントリーが英語のサイトに届いたので、ここで掲載します。 -管理者) I have a question. It seems to me that if Japan is to develop a predictible base of law to govern the ticklish issues that arise on boards in cases such as TOBs and MBOs, that base will have to evolve via case law.

But I understand that most civil law nations do not observe the legal principle of stare decisis. What is the situation in Japan?  If not stare decisis, what principles are (or are not) observed in Japan, and how much faith can we have that Japan will be able to develop well-crafted judicial precidents that will give boards useful "rules of thumb" for best practice?

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