III NEXTGEN LEADERSHIP PROGRAM CONFERENCE AND CLASS V INDUCTION , JUNE 5, 2016

The International Insolvency Institute’s 16th ANNUAL INTERNATIONAL INSOLVENCY CONFERENCE th Conference Faculty June16 6 -7,ANNU 2016AL INTERNATIONAL TokyINSOLo, JapanVENCY CONFERENCE Mitsue Aizawa TMIConfAssociaterencees, Faculty Tokyo June 6 -7, 2016 Mitsue Aizawa Donald S. Bernstein ConfToerencekyo, Co-Chairs TMI Associates, Tokyo Davis Polk & Wardwell E. Bruce Leonard New York Miller Thomson LLP, Toronto Donald S. Bernstein AlanDavis Bloom Polk & Wardwell Maurice Fleming ErnstNew & Yorkoung, London NextGen Nomination Director ConfMillererence Thomson Co -LLPChairs, Toronto ProfAlan. Hon. Bloom Samuel L. E. Bruce Leonard BufforErnstd & Young, London MillerFranca Thomson Tibando LLP, Toronto NextGen Executive Director Pennsylvania State Mitsue Aizawa Miller Thomson LLP, Toronto UniverProfsity. Hon. Samuel L. Bufford TMI Associates, Tokyo UniverPennsylvaniasity Park, PStateA University University Park, PA ShinchiroNextGen ExecutiveAbe Director KasumigFranca Tibandoaseki International Law Office Thomas M. Gaa NextGenMiller ThomsonTokyo Organizing LLP, Toronto Committee BialsonThomas, Bergen M. Gaa & SchwabBialson, Bergen & Schwab PaloPalo Alto Alto

ProfPr. ofChristoph. Christoph Paulus Paulus HumboldtHumboldt Univer Universitysity, , Berlin Berlin Hon. James M. Peck Hon.Morrison James M. & FoPeckerster LLP MorrisonNew Yo &rk Foerster LLP New York III NextGen Leadership Program: Class V Tokyo, Japan June 5, 2016

The III NextGen Leadership Program Conference and Induction of Class V of the Program will take place at the offices of TMI Associates in the Mori Tower generously hosted by III Member and Director Mitsue Aizawa.

Roppongi Hills Mori Tower is a 54-story mixed-use skyscraper located in Roppongi, Minato, Tokyo. Completed in 2003 and named for builder , it is the centerpiece of the Roppongi Hills urban development. It is currently the sixth-tallest building in Tokyo at 238 meters (781 ft). The tower has a floor space area of over 4,000,000 square feet, making it one of the office largest buildings in the world. Anchor tenants include Goldman Sachs, Barclays Bank, Nokia and Google Japan.

The Mori Tower building is primarily used for office space, but it also includes retail stores, restaurants and other attractions. The Mori Art Museum is located on the 53rd floor and there are observations decks on 52nd and 54th floors where your view the city. The headquarters of are located in the Tower.

Page 2 Sunday, June 5, 2016 (TMI Associates, Roppongi Hills Mori Tower, Tokyo Courtesy of III Member Mitsue Aizawa)

Summary of Events

8:00 am - 8:30 am Registration and Refreshments

8:30 am - 8:45 am Welcome to Tokyo (Mitsue Aizawa, TMI Associates)

8:45 am – 9:00 am Introduction and Welcome (Bruce Leonard)

9:00 am - 9:10 am Introduction and Organizational Outline (Franca Tibando)

9:10 am – 10:00 am Use of Arbitration Procedures in International Insolvency Cases Chair: Prof. Hon. Samuel L. Bufford, Penn State University, University Park, PA Panelists: Sergio Savi, Castro, Barros, Sobral, Gomes Advogados, Rio de Janerio

10:00 am - 10:45 am Restructuring Systems and Procedures in Japan Chair: Mitsue Aizawa, TMI Associates, Tokyo Panelists: Christopher Creger, BDO Consulting, New York Zentaro Nihei, Anderson Mori & Tomotsune, Tokyo Ataru Iizuka, TMI Associates, Tokyo

10:45 am - 11:00 am Refreshment Break

11:00 am - 11:45 pm Solving Sovereign Debt Crises Chair: Prof. Christoph Paulus, Humboldt University, Berlin Panelists: Yanying Li,Clifford Chance LLP, London Fernando Hernandez, Marval, O’Farrell & Mairal, Buenos Aires

11:45 pm - 12:30 pm Improving Cross-Border Cooperation in International Cases: The Model Law, E.I.R. and More Chair: Hon. James M. Peck, Morrison & Foerster LLP, New York Panelists: Darren S. Klein, Davis Polk & Wardwell LLP, New York Look Chan Ho, Freshfields Bruckhaus Deringer LLP, London Christiaan Zijderveld, Simmons & Simmons, Amsterdam

12:30 pm - 1:30 pm Buffet Lunch for Faculty and Registered Delegates Hills Club: French Cellar

1:30 pm - 2:15 pm Intellectual Property Issues in Bankruptcies and Reorganizations Chair: Thomas M. Gaa, Bialson, Bergen & Schwab, Palo Alto Panelists: Carlo Ghia, Studio Legale Ghia, Rome Federica Pietrogrande, Studio Legale Bird & Bird, Milan Eugenio Briales Gomez-Tarragona, Harvard Law School, Cambridge

2:15 pm – 3:00 pm Multinational Corporate Group Insolvencies: Lessons from Nortel Chair: Alan Bloom, Ernst & Young, London Panelists: Annika Wolf, European Institue Max Weber Programme, Germany Sarah Coleman, Baker Botts LLP, Austin John Sommer Schmidt, Gorrissen Federspiel, Copenhagen

3:00 pm – 3:15 pm Refreshment Break 3:15 pm - 4:00 pm Management Responsibilities in Insolvency Situations Chair: Donald S. Bernstein, David Polk & Wardwell, New York Panelists: Stine Snertingdalen, Kvale Advokatfirma DA, Oslo Samantha Martin, Morrison & Foerster LLP, New York Ivo-Meinert Wiillrodt, PLUTA Rechtsanwalts GmbH, Munich

4:00 pm – 5:00 pm Induction of Class V (III Members Invited)

Page 3 Saturday, June 4, 2016

Optional NextGen Tour: Tour of Shitamachi (Downtown) (Exclusively for III NextGens) Saturday, June 4, 2016 9:15 am – 4:00 pm Meet in the Shinagawa Prince Hotel lobby at 9:15 a.m. The charter bus departs promptly at 9:30 a.m. Participants will enjoy tours of Tsukiji Fish Market (the largest wholesale market of fish, fruits, and vegetables in Tokyo), the colorful and popular Asakusa Temple, Nakamise shopping street (the best place for souvenirs!) an Asakusa Tokyo cruise, and tour of the Hama Rikyu Gardens. Tempura lunch is included. The charter bus will return to the hotel at 4:00 p.m. Maximum 50 people, USD $75

Optional Tour: Kyoto Full Day Trip (All III Members and NextGen Members and Guests) Saturday, June 4, 2016 8:30 am – 11:40 pm Meet in lobby of Shinagawa Prince Hotel at 8:30 a.m. Cab share/walk to Shinagawa Station to arrive no later than 9:00 a.m. Tour includes round trip Shinkan-sen (Bullet train) tickets, charter bus arrangements, and guided tours of of Kinkakuji Temple (Temple of the Golden Pavilion), Kiyomizu-dera Temple (Pure Water Temple), Sannei zaka (a picturesque shopping alleyway in Kyoto), and Sanjusangendo (Japan’s longest wooden structure). Lunch and dinner is included. Participants will return to Shinagawa Station at 11:40 p.m. Maximum 50 people, USD $400

Page 4 Sunday, June 5, 2016

8:00 am – 4:00 pm III NextGen Leadership Program TMI Associates, Roppongi Hills Mori Tower, Tokyo, Japan NextGens meet in lobby of Shinagawa Prince Hotel 7:30 am for bus transportation to TMI Associates Note: Return bus transportation to the hotels provided at 10:30 pm to allow NextGens to enjoy and explore the Roppongi area.

4:00 pm – 5:00 pm III NextGen Class V Induction and Reception All delegates are welcome to attend The NextGens Class V will be inducted and presented with their Membership Certificates

7:00 pm – 10:30 pm III NextGen Conference Dinner Tofuya-Ukai Restaurant www.ukai.co.jp Registered NexGen Members and Guests: USD$120

Meet in the Shinagawa Prince Hotel lobby at 6:30 p.m. NextGens members and their guests will enjoy an evening of traditional Japanese Kaiseki cuisine in one of Tokyo’s most gracious restaurant located in a former sake brewery. The restaurant features an exquisite traditional garden located in the shadow of the Tokyo Tower. ______

Optional Spouses and Guests Tour: “Know Tokyo Better” NextGen Guests are Welcome Sunday, June 5, 2016 8:45 am – 4:45 pm Meet in the Shinagawa Prince Hotel lobby at 8:45 a.m. The charter bus departs promptly at 9:00 a.m. Participants will enjoy tours of Meiji Jingu Shrine (located within a tranquil forest of approximately 100,000 trees within the city), the Tokyo Metropolitan Government Viewing Deck (the best observation deck in Tokyo), Shibuya scramble crossing (the busiest pedestrian crossing in the world), and Odaiba Palette Town (a large shopping and entertainment complex). Lunch is included. The charter bus will return to the hotel at 4:45 pm Maximum 50 people, USD $130

Page 5 Monday, June 6, 2016 International Insolvency Institute Main Conference

8:00 am – 9:00 am Registration and Continental Breakfast for III Conference Delegates Grand Prince Hotel New Takanawa Heian Room

9:00 am – 5:00 pm International Insolvency Institute – Conference Sessions Grand Prince Hotel New Takanawa: Tenpyo Room Click Here to View III Program

9:15 am – 4:00pm Optional Spouses and Guests Tour: Tour of Shitamachi (Downtown) Meet in the Shinagawa Prince Hotel lobby at 9:15 am The charter bus departs promptly at 9:30 a.m. Participants will enjoy tours of Tsukiji Fish Market (the largest wholesale market of fish, fruits, and vegetables in Tokyo), the colorful and popular Asakusa Temple, Nakamise shopping street (the best place for souvenirs!) an Asakusa Tokyo cruise, and tour of the Hama Rikyu Gardens. Tempura lunch is included. The charter bus will return to the hotel at 4:00 p.m Maximum 50 people, USD $75

6:30 pm – 11:30 pm III Legendary Dinner and Outstanding Contributions Award Happo-en, A Traditional Japanese Garden 1-1-1 Shirokanedai, Minato-ku, Tokyo Meet in lobby of Grand Prince Hotel New Takanawa at 6:45 pm for bus transportation to dinner. You MUST show your ticket before getting on the bus. Happo-en, whose name means “Garden of Views” reflects its beauty viewed from any angle. It is a magnificent garden that has maintained the natural beauty of Edo Japan down through the centuries and bequeathed it to present day Tokyo. Nature changes with the season interspersed with historical buildings and relics of the past in this enchanting garden, which includes a hillside with a stream running through it covering a vast 50,000 square meter area in Tokyo’s fashionable Shirokanedai District. Ticketed Event USD $250 per person (NextGen Members and full-time serving III Judicial, Academic and Governmental Members USD $125)

Page 6 Tuesday, June 7, 2016 International Insolvency Institute Main Conference

8:00 am – 9:00 am Continental Breakfast for III Members, Delegates and NextGen Members Grand Prince Hotel New Takanawa Tenpyo Room

9:00 am – 5:00pm International Insolvency Institute – Conference Sessions Click Here to View III Program

9:00 am – 4:00pm Optional Spouse and Guest Tour: Yokohama Day Tour Meet in the Shinagawa Prince Hotel lobby at 8:45 a.m. The charter bus departs promptly at 9:00 a.m. Participants will enjoy tours of the Yokohama Cup Noodle Museum, spend time shopping at over 200 stores at Queen’s Square Yokohama, and stroll the Sankeien Garden. Lunch is included. The charter bus will return to the hotel at 4:00 p.m. Maximum 50 people, USD $105

7:30 pm – 9:30 pm III NextGen Closing Dinner Yosojima Inshoutei Meet in the Shinagawa Prince Hotel lobby at 7:00 pm Charte bus will return to the hotel at 10:00 pm Maximum 60 people, USD $110

Page 7 Wednesday, June 8, 2016

Wednesday, June 8, 2016 10:45 am – 10:00 pm Mount Fuji Day Trip (All III Members and NextGens and Guests) Meet in the Shinagawa Prince Hotel lobby at 10:45 a.m. The charter bus departs promptly at 11:00 a.m. Participants will travel the Subaru Line, a scenic toll road up Mount Fuji’s lower northern slopes, to reach the 5th Station, a popular sight-seeing location. The tour also includes lunch, dinner, and a cruise on Lake Ashinoko. The charter bus will return to the hotel at 10:00 p.m. Maximum 30 people, cost US$200

Page 8 16th Annual Conference Legendary Conference Dinner Monday, June 6, 2016 Happo-en

The International Insolvency Institute is privileged and honoured to host its 16th Legendary Dinner at this magnificent restaurant surrounded by its breathtaking gardens. We will enjoy elegantly arranged Japanese dishes and overlook the gardens that surround us.

Happo-en, meaning “Garden of Eight Views” or “Beautiful from all Views” (reflects its beauty viewed from any angle) are traditional Japanese Gardens located in Shirokane which is not far from the center of Tokyo. Happo-en was once the land of a Shogun. It was originally a Samurai’s residence in the Edo Period (1603 – 1868) and most of the current buildings and garden were once a residence of Fusanosuke Kuhara, a powerful businessman and politician before becoming open to the public as a Ryotei restaurant. His house was located at the top of the gardens and is now used for wedding and receptions and formal dinners.

Happo-en has on display an excellent selection of Bonsai trees, some dating back over 500 years. This magnificent garden that has maintained the natural beauty of Edo Japan down through the centuries to present day. Happo-en Garden is roughly 33,000 square meters and about 300 years old. Within the gardens of Happo-en is a historical Teahouse called Muan where you can experience the traditional Japanese tea ceremony. Muan was originally built in the Edo Era by Tanaka Heihachi (1833 – 1884), a rich silk merchant. The name “Muan” dates back to the Muromachi Era (1372 – 1573) which reflects the elegance of the tea ceremony spirit. Conference Rates, Hotel and Flight Information

Conference Registration Rates Note: NextGens must register for the III Conference and the NextGen Leadership Program)

III NextGen Leadership Program USD $650 (Full Time Academic NextGen Member Rate $325) III NextGen Registration for III Main Conference USD $650 (Regular Registration $1,700)

Hotels We have reserved rooms at 3 different hotels as listed below:

The Prince Sakura Tower Tokyo(5 Star) Approximately USD $300 per night

Grand Prince Hotel New Takanawa (4 Star) Main Conference Hotel Approximately USD $220 per night

Shinagawa Prince Hotel Annex Tower (3 Star) Approximately USD $190 per night

Please use this link to register at any of the hotels

United Airlines Group Discount

The III has made arrangements with United Airlines and its affiliates for a group discount. Tokyo, JP (NRT – Narita) 06/02/2016 to 06/11/2016

You may book online at www.united.com and enter your Offer Code ZVJ7337407 in the Offer Code Box when searching for your flights.

If booking through a travel agency or United Meetings at 800-426-1122 please provide the following: Agreement Code 337407 Z Code: ZVJ7

Outside of the United States, please call your local United Airlines Reservation Office Experience dependable, first-rate service and earn miles in MileagePlus® United’s award-winning frequent flyer program. To enroll in MileagePlus® log onto www.united.com NEXTGEN MEMBER REGISTRATION FORM

Please send completed registration form with payment to Shari Bedker at [email protected] or Tel: 434.939.6003; or register online at www.iiiglobal.org. Positions will be filled on a first come, first served basis. Some tours require a minimum number of guests.

NOTE: NEXTGENS MUST USE THIS LINK TO REGISTER ON LINE

III NextGen Leadership Program Class V Sunday, June 5, 2016: 8:00 am – 4:00 pm (USD $650) USD $1,300 ______and III Conference Registration (USD $650) (Regularly USD $1,700) ______

III NextGen Academic Members III NextGen Full Time Academic Rate (USD $325) USD $975 and III Conference Registration (USD $650) ______

III NextGen Leadership Reception and Induction of Class V No. Sunday, June 5, 2016: 5:00 pm – 6:00 pm (no charge) Attending (III Members and Guests and NextGen Members and Guests) ______

III NextGen Conference Dinner: Tofyua-Ukai Restaurant Sunday, June 5, 2016: 7:30 pm – 10:30 pm USD $120 (NextGen Members and Guests only please) ______

Optional Kyoto Full Day Tour (All III Members and Guests and NextGens and Guests) Saturday, June 4, 2016: 8:30 am – 11:40 pm USD $400 Meet in Shinagawa Prince Hotel lobby at 10:45 am ______

Optional Tour of Shitamachi (Downtown Area) (NextGen Members and Guests Only) (NextGen Members and Guests Only) USD $75 Saturday, June 4, 2016: 9:30 am – 4:00 pm ______Meet in Shinagawa Prince Hotel lobby at 9:15 am

Optional Know Tokyo Better Tour (III Members and Guests and NextGen Guests) Sunday, June 5, 2016: 9:00 am – 4:45 pm USD $130 Meet in Shinagawa Prince Hotel lobby at 8:45 am ______

III Legendary Tokyo Dinner: Happo-en Garden Monday, June 6, 2016: 6:30 pm – 11:30 pm USD $125 (III Members, NextGens and Guests Only Please) (USD $250) ______III Full Time Academic, Judicial and Government Members and NextGen Members (USD $125)

Optional Tour of Shitamachi (Downtown Area) (III NextGen Spouses and Guests) Monday, June 6, 2016: 9:30 am – 4:00 pm USD $75 Meet in Shinagawa Prince Hotel lobby at 9:15 am ______

Optional Yokohama Day Tour (All Spouses and Guests) Tuesday, June 7, 2016: 9:00 am – 4:00 pm USD $105 ______Meet in Shinagawa Prince Hotel Lobby at 8:45 am ______

III NextGen Conference Closing Dinner: Yosojima Inshoutei Tuesday, June 7, 2016: 7:30 pm – 9:30 pm USD $110 Meet in Shinagawa Prince Hotel lobby at 7:00 pm ______

Optional Mount Fuji Full Day Tour (All Members and NextGens and Guests) Wednesday, June 7, 2016: 11:00 am – 9:00 pm USD $200 Payment Method

□ My check for USD $______made payable to International Insolvency Institute is enclosed

□ Please charge USD $______to my credit card

Card Number ______

Security Code ______Expiration Date ______

Signature ______

□ I will send a wire transfer to Account Name: International Insolvency Institute in the amount of USD $______

Bank: Suntrust Bank Atlanta, Georgia USA Account Number (IBAN): 1000098663403 Routing Number (ABA): 061000104 SWIFT Number (BIC): SNTRUS3A

______

CLE CREDITS (ESTIMATED 10 HOURS OF CLE CREDIT) The International Insolvency Institute will apply for CLE credit on the U.S. and provide a certificate of attendance for other jurisdictions. Please list the US states for which you require CLE credit: ______

Please mail or fax this form to: International Insolvency Institute PMB 112, 10332 Main Street, Fairfax, Virginia 22030-2410 USA Tel: 434 939 6003; Fax: 434 939 6030; You can also register online at www.iiiglobal.org Contact Shari Bedker [email protected] or her assistant Blair Alan Knight, [email protected] if you have any questions.

You registration includes Conference attendance for both days, continental breakfast and lunch both days, all Conference materials, coffee and refreshment breaks during the Conference.

CANCELLATION POLICY Refunds will be available for cancellations if written notice is received on or before May 15, 2016 at 7:00 pm (Eastern Time). No refunds will be honoured after May 15, 2016. Substitutions will be allowed. Optional Tour Details

Saturday, June 4, 2016 Kyoto Full Day Trip Meet in lobby of Shinagawa Prince Hotel at 8:30 a.m. to cab share/walk to Shinagawa Station to arrive no later than 9:00 a.m. Tour includes round trip Shinkan-sen (Bullet train) tickets, charter bus arrangements, and guided tours of of Kinkakuji Temple (Temple of the Golden Pavilion), Kiyomizu-dera Temple (Pure Water Temple), Sannei zaka (a picturesque shopping alleyway in Kyoto), and Sanjusangendo (Japan’s longest wooden structure). Lunch and dinner is included. Participants will return to Shinagawa Station at 11:40 p.m. Maximum 50 people, cost USD $400

Tour of Shitamachi (Downtown) (Exclusively for III NextGens) Meet in the Shinagawa Prince Hotel lobby at 9:15 a.m. The charter bus departs promptly at 9:30 a.m. Participants will enjoy tours of Tsukiji Fish Market (the largest wholesale market of fish, fruits, and vegetables in Tokyo), the colorful and popular Asakusa Temple, Nakamise shopping street (the best place for souvenirs!) an Asakusa Tokyo cruise, and tour of the Hama Rikyu Gardens. Tempura lunch is included. The charter bus will return to the hotel at 4:00 p.m. Maximum 50 people, USD $75

Sunday, June 5, 2016 Know Tokyo Better Meet in the Shinagawa Prince Hotel lobby at 8:45 a.m. The charter bus departs promptly at 9:00 a.m. Participants will enjoy tours of Meiji Jingu Shrine (located within a tranquil forest of approximately 100,000 trees within the city), the Tokyo Metropolitan Government Viewing Deck (the best observation deck in Tokyo), Shibuya scramble crossing (the busiest pedestrian crossing in the world), and Odaiba Palette Town (a large shopping and entertainment complex). Lunch is included. The charter bus will return to the hotel at 4:45 pm Maximum 50 people, USD $130

Monday, June 6, 2016 Tour of Shitamachi (Downtown) Meet in the Shinagawa Prince Hotel lobby at 9:15 a.m. The charter bus departs promptly at 9:30 a.m. Participants will enjoy tours of Tsukiji Fish Market (the largest wholesale market of fish, fruits, and vegetables in Tokyo), the colorful and popular Asakusa Temple, Nakamise shopping street (the best place for souvenirs!) an Asakusa Tokyo cruise, and tour of the Hama Rikyu Gardens. Tempura lunch is included. The charter bus will return to the hotel at 4:00 p.m. Maximum 50 people, USD $75

Tuesday, June 7, 2016 Yokohama Day Trip Meet in the Shinagawa Prince Hotel lobby at 8:45 a.m. The charter bus departs promptly at 9:00 a.m. Participants will enjoy tours of the Yokohama Cup Noodle Museum, spend time shopping at over 200 stores at Queen’s Square Yokohama, and stroll the Sankeien Garden. Lunch is included. The charter bus will return to the hotel at 4:00 p.m. Maximum 50 people, USD $105

Wednesday, June 8, 2016 Mount Fuji Day Trip Meet in the Shinagawa Prince Hotel lobby at 10:45 a.m. The charter bus departs promptly at 11:00 a.m. Participants will travel the Subaru Line, a scenic toll road up Mount Fuji’s lower northern slopes, to reach the 5th Station, a popular sight- seeing location. The tour also includes lunch, dinner, and a cruise on Lake Ashinoko. The charter bus will return to the hotel at 10:00 p.m. Maximum 30 people, cost US$200 1. Don’t eat food while walking Japan is one of the cleanest countries and it’s not because they have trash cans lining the streets. In fact, it’s almost a challenge to find a trash can on the streets of Japan. No one eats or drinks while on the go. Food is a huge part of Japanese culture and thus they believe it deserves proper respect. Sitting down to properly enjoy the meal, and not just eating quickly as you run errands. 2. Don’t use your phone on trains The Japanese generally refrain from having loud conversations on their phones, especially in public areas. You may notice that everyone is on the phone in trains; however, you will also notice they are texting rather than calling. 3. Remove your shoes It’s important to take off your shoes when entering all homes, as well as many businesses and hotels. In the entrance there will usually be a shoe rack for you to leave your shoes, as well as guest slippers for you to put on. 4. Don’t open taxi doors Taxi doors open and close automatically with the push of a button from the driver. Do not try to open them yourself. Wait for the driver to open your door. Otherwise you’ll be sitting there trying to open the door manually with no luck. 5. Get ready to drink Drinking is somewhat of a national pastime in Japan. Never refuse a drink, simply smile and accept it. As long as your glass is kept half full they won’t be refilling it. So if you don’t feel like drinking, don’t try to quick down your drink to get rid of it or else you’ll find your glass promptly refilled. When drinking it is important to never refill your own glass. Traditionally, drinks are poured by others, and if you pour your own it is saying that whomever you are with is not being attentive. However, this works both ways– if you see that someone’s drink is below half full, make sure to fill it for them! And don’t forget to yell “kampai” (cheers) before drinking. 6. Do Bow (ojigi) The duration and angle of the bow is proportionate to the amount of respect you are conveying. The slower and lower the bow, the more respect you are showing. However, bowing is not only used to show respect, but also as a greeting. 7. Business Cards When receiving someone’s meishi, be sure to receive it using both hands and read the card before putting it away. It is considered very rude to grab someone’s card without looking it over before putting it in your pocket. Even after you’ve thoroughly read over the card, make sure to put it somewhere nicer than your pants pocket! 8. Escalators etiquette Escalators are usually stand on the right, and pass on the left. In Tokyo you’ll find that it’s exactly the opposite– stand left and pass right. 9. Pay Nicely At all registers are small trays. Sometimes they are more decorative using leather or wood and sometimes they are plastic with rubber bumps. This tray is for placing your money when paying. Do not hand your money directly to the cashier. Likewise, the cashiers will lay your change out on the tray with your receipt, so do not try to grab it from their hands. 10. Don’t tip A price is a price in Japan, and leaving extra money is often considered rude. Tipping is widely unheard of in Japan, and for first-rate restaurants, a gratuity is already included in the bill.