“The Law Concerning the Promotion of the Use of Alternative Dispute Resolution Procedures” (the “ADR Promotion Law”) was promulgated on 1 December 2004 and came into effect on 1 April 2007. This law allows the Minister of Justice to give accreditation to private-sector organisations that help resolve civil disputes outside the Japanese public court system. On 24 June 2009, a Law on the Partial Revision of the Financial Instruments and Exchange Law for 2009 (Law No 58) was promulgated, which applies the accreditation system created by the ADR Promotion Law to various financial sub-sectors by revision of laws such as the Insurance Business Law.
Industry associations have until 23 June 2010 to obtain accreditation. The ADR institutions of the Japan Securities Dealers Association, The Life Insurance Association of Japan, The General Insurance Association of Japan, and the Japanese Bankers Association and the Trust Companies Association of Japan have recently announced their intention to obtain accreditation.