Light, his memory recovered, orders Misa to begin killing after Higuchi dies. The Shinigami Rem realizes that everything is going according to Light's plan, and that L will arrest Misa as Kira-unless Rem acts quickly.
Though Mikami has written all the investigators' names in the Death Note, a minute passes and everyone is still alive. Near seizes Mikami's Death Note, and all is at last revealed.