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Grey horizons

Ageing populations redefine company obligations

Across the Asia-Pacific, demographic change is emerging as one of the defining forces shaping business and public policy. As populations age and birth rates continue to decline, governments are reassessing the long-term sustainability of retirement systems, introducing reforms that will have far-reaching implications for employers, employees and the broader economy.

Our Cover story, titled Retirement cost creep, examines how jurisdictions across the region are responding to mounting pressure on pension and social security systems. From higher contribution rates and rising retirement ages to broader policy reforms, governments are seeking to strengthen retirement funding through company contributions as longer life expectancy and shrinking workforces reshape the employment landscape.

In conversations with Asia Business Law Journal, experts across the region discuss the growing compliance obligations facing employers as retirement frameworks evolve. They explore the challenges of managing rising labour costs, adapting to changing regulatory requirements, and preparing businesses for a future in which demographic realities will increasingly influence workforce strategy and long-term planning.

Our Asia-specific report, titled Exchanging roles, features a Q&A with Paul Chow, who balances the dual responsibilities of group general counsel and group chief sustainability officer at Hong Kong Exchanges and Clearing Limited (HKEX). As he oversees both the exchange¡¯s legal function and its sustainability agenda, Chow offers a rare perspective on how these complementary roles are shaping the organisation¡¯s long-term strategy.

Chow discusses the opportunities and challenges of integrating artificial intelligence into the legal function, the strategic ambitions behind HKEX¡¯s Core Climate carbon credit platform, and the broader commitment to sustainability and community initiatives.

This issue¡¯s Intelligence report features Sylvia Fang, senior vice president and general counsel at Taiwan Semiconductor Manufacturing Company (TSMC), whose three-decade career has unfolded alongside the rise of one of the world¡¯s most influential technology companies. As TSMC continues to power the global AI boom, Fang reflects on the values and practices that have underpinned the company¡¯s remarkable growth.

Our Practice guides series brings together expert analysis from practitioners across multiple jurisdictions on three key areas of business law.

The M&A guide examines how policy reforms, industrial transformation and cross-border investment are shaping dealmaking across Asia. Meanwhile, the Corporate Governance guide explores the shift beyond compliance towards accountability, sustainability and long-term value creation.

The Head to Head series continues with a comparison of legal developments in project finance in Japan and Taiwan. Experts examine how legal and financing frameworks are evolving as investment accelerates in infrastructure, renewable energy and emerging technologies. The Restructuring and Insolvency guide analyses how businesses can respond to financial distress and navigate cross-border proceedings.

This issue unveils the Taiwan Law Firm Awards 2026, our prestigious annual recognition of the jurisdiction¡¯s most outstanding legal talents. These awards recognise excellence, innovation and leadership in Taiwan¡¯s legal industry.

Finally, we are proud to present the annual Japan A-List, which highlights the top lawyers plus 30 Legal Icons in Japan. This list is selected by the independent research team of Asia Business Law Journal, and is based on nominations and endorsements from domestic and international clients, as well as peers worldwide.