This article aims to introduce recent trend in business revitalization procedure in Japan and to provide a detailed case on JAL’s rehabilitation.BR This article can be divided into 4 sections. Following Chapter I as the introduction, Chapter Ⅱ and Ⅲ cover an outline of bankruptcy procedure in Japan and brief history of Japanese Bankruptcy Act development. Like any other countries, Japanese Bankruptcy Act classifies 3 criteria. Judicial v Extra judicial, Rehabilitation v Liquidation and Individual v Corporate. Japanese bankruptcy legislation is influenced firstly by German, and then after World War II by the U.S, but gradually Japan has established its own bankruptcy legislation.BR Chapter Ⅳ, V and Ⅵ explain trends and topics in recent corporate revitalization procedure and examine current changes in business revitalization environment. Statistics show that the number of overall bankruptcy filing is dropping annually. However, Special Liquidation is growing dramatically, implying growing tendency of using Special Liquidation Procedure as a tool of transferring the business and liquidating the residual business in financial difficulties. Also recent corporate revitalization procedure development shows three growing tendencies. Firstly, an Early stage revitalization is strongly encouraged by both authorities and markets. Secondly, various Alternative Dispute Resolutions(ADR) have been adopted in corporate revitalization procedure such as Judicial ADR, Administrative ADR and Private(Civil) ADR. Lastly, As a consequence of close cooperation between Private procedure and Legal procedure in revitalization procedure, speedy revitalization procedure is made possible.BR Chapter Ⅶ and Ⅷ offer in-depth details and current status of the JAL’s rehabilitation case. Established in 1951 as semi-governmental corporation, privatized JAL has been considered as a nice workplace despite of various inner turmoil such as factionalism, complicated labor union problem and managemental conflicts, thanks to JAL’s connection with the japanese authorities. But when JAL"s rehabilitation is filed, its total liability was recorded as 2.3 trillion yen, making it the biggest case in japanese bankruptcy history after World War Ⅱ. Mainly, there are five legal issues in JAL’s revitalization procedure. First, use of government-funded Corporate Revitalization Support Organization(CRSO).Second, adoption of Preadjustment Corporate Rehabilitation Procedure. Third, the Pension Issue. Fourth, Full protection of commercial bond. Fifth, Maintaining JAL as a listed corporation.BR Finally, Chapter Ⅸ contains a few suggestions to improve the revitalization procedure later on, and implications that JAL’s rehabilitation left behind. Few issues should be considered for improving corporate revitalization procedure, such as unification of revitalization procedure, setting standard for injection of governmental fund, protection of employee pension and balancing Private Procedure and Legal Procedure in revitalization procedure.