noun, noun which may take the genitive case particle 'no', adverb
in effect; effectively; practically; for all practical purposes
Describes a situation that is not officially or formally the case, but is true in practical terms. Often used in news and formal contexts to contrast appearance with reality.
その会社は事実上倒産している。
The company is effectively bankrupt.
彼が事実上のリーダー
He is the de facto leader.
実質的に is similar to 事実上 but often used in economic or quantitative contexts, meaning 'substantially' or 'in real terms'.
Compound of 事実 (fact, reality) and 上 (above, on), literally 'on the fact', meaning 'in terms of reality'.