www.harel-hertz.com/dynamic.asp?cid=12377 -
[Cached Version]
Published on: 10/19/2006
Last Visited: 10/6/2009
Harel, who ran the company until recently, attributes the anticipated change to a pending amendment in Japan's merger law, which will come into effect in May 2007.
The amendment will allow Japanese companies to make acquisitions by buying shares, and will also institute far-reaching changes in merger-related taxation.
"Many more Japanese companies will be able to go out and make acquisitions as a result of the legislative change," said Harel at a conference on Japanese venture capital held at the College of Management.
...
Elchanan Harel's son, Harel-Hertz managing director Eran Harel, will manage the fund.
...
In order to explain the difference between the Western approach towards start-ups and venture capital and the Japanese approach, Harel relates that when he once met a Japanese counterpart, he noticed that the business card said "Manager R&B".
Harel relates, "I told him that there was a mistake, and that he was probably the R&D manager.
He replied, 'You have a mistake in concept.
This is research and business, not research and development.' The Japanese don't understand the significance of investment in a company without a product."
Harel says that although Japan has many start-ups, the cultural environment is different.
...
Harel says, "We'll see more investment by Japanese companies in Israel, but we're unlikely to see large acquisitions in Israel, because of the political situation.