Corporate division - divestment (UK)/divestitures (US)

Japanese: 企業分割 - きぎょうぶんかつ（英語表記）divestment(英)/divestitures(米)

The monopoly division policy is a method of oligopoly regulation stipulated by the US Antimonopoly Act to prevent fair market competition from being distorted by monopolistic companies, and involves separating certain assets of the old company and either selling them to a third party or establishing a new company. This oligopoly regulation is theoretically based on the Harvard School of Industrial Organization theory, and its application is considered taking into account factors such as the scale of sales of the industry, the degree of concentration at the top of the industry, and the market share of the company in question. On the other hand, the Chicago School believes that market power is not directly related to market share, and that even if a company that meets the above conditions is generating monopoly profits, the profit rate will decrease due to new entrants. As such, they place their trust in the market's self-regulating function and take a laissez-faire approach, and therefore harshly criticize the monopoly division policy.

(Hiroyuki Takahashi, Professor, Chuo University / 2007)

Source : "Chiezo" published by Asahi Shimbun Publications Co., Ltd. About Chiezo

Japanese:

公正な市場競争が独占企業によって歪められるのを防ぐために、米国の独占禁止法が寡占規制の1つとして定めている独占企業分割政策で、旧会社の一定の資産を分離し、これを第三者に売却するか、新会社を設立させる方法。この寡占規制は、ハーバード学派の産業組織論に理論的基礎を置き、産業の売上高規模、その産業の上位集中度、当該企業の市場占有率などを勘案して適用が検討される。一方でシカゴ学派は、市場支配力は市場占有率と直接関係しているわけではなく、また上記のような条件を充足する企業に独占利潤が発生していても、新規参入により利潤率は低下すると考え、市場の自律調整機能に信頼を置き自由放任主義に立つため、独占企業分割政策については厳しく批判した。

(高橋宏幸中央大学教授／ 2007年)

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