This article reviews the recent developments regarding Japan's tax treaties. By way of background, the article describes the trends in foreign direct investment (FDI) under Japan's conventional treaties and the criteria for prioritizing the renegotiation of treaties, namely, the volume of FDI, deviation from current trends, and the need for anti-avoidance provisions. The article also examines Japan's new treaties with the United States and the United Kingdom and looks at other important treaty developments, e.g. the protocols to Japan's treaties with India, the Philippines and France.