Supplementary Provisions, Article 9Transitional Measures for Unit Shares, etc.

①In the case where a company that issues several classes of shares determines the number of shares constituting one unit by March 31, 2002, the number of shares constituting one unit determined for each class of shares must be the same number.

②A stock company that, at the time of enforcement of this Act, has as the number of shares constituting one lot the number obtained by dividing 50,000 yen by the amount per par value share pursuant to Article 16, paragraph (1) of the Supplementary Provisions of the Act Partially Amending the Commercial Code, etc. as it was before the amendment by this Act (hereinafter referred to as the "Former Commercial Code, etc. Amendment Act"), or that has determined the number of shares constituting one lot in its articles of incorporation, is deemed to have made, on the date of enforcement of this Act, a resolution for an amendment to the articles of incorporation to the effect that the number of shares constituting that lot is determined, for each class of shares, as the number of shares constituting one unit under Article 221, paragraph (1) of the Amended Commercial Code. In this case, in applying the proviso to that paragraph to a stock company that, at the time of enforcement of this Act, has a number exceeding 1,000 as the number of shares constituting one lot, the term "1,000" in the proviso to that paragraph is deemed to be replaced with "the number deemed to have been determined pursuant to the first sentence of Article 9, paragraph (2) of the Supplementary Provisions of the Act Partially Amending the Commercial Code, etc. and Other Matters (Act No. 79 of 2001)".

③Where, prior to the enforcement of this Act, a resolution has been made for an amendment to the articles of incorporation to determine or change the number of shares constituting one lot under Article 16, paragraph (1) of the Supplementary Provisions of the Former Commercial Code, etc. Amendment Act, and the day on which that amendment would have taken effect had it not been for the amendment under this Act is a day after the date of enforcement of this Act, an amendment to the articles of incorporation is deemed to have been made, on the day on which it would have taken effect, to determine the number of shares constituting one lot under that resolution as the number of shares constituting one unit for each class of shares; provided, however, that this does not apply if the number of shares constituting one lot under that resolution exceeds 1,000 or the number equivalent to one two-hundredth of the total number of issued shares.

④A stock company referred to in paragraph (2) is deemed to have made, on the date of enforcement of this Act, a resolution for an amendment to the articles of incorporation to the effect that share certificates are not to be issued for shares constituting less than one unit, pursuant to the main clause of Article 221, paragraph (5) of the Amended Commercial Code.

⑤Where a stock company that exists at the time of enforcement of this Act (excluding a stock company referred to in paragraph (2), and including one that received certification of the articles of incorporation prior to the enforcement of this Act and is established after the enforcement of this Act) and that has never determined the number of shares constituting one unit has made a resolution for an amendment to the articles of incorporation to determine the number of shares constituting one unit under Article 188, paragraph (1) of the Companies Act, whose taking effect is conditional upon a share split being carried out, and carries out the share split in order to satisfy that condition, that stock company may provide, in the resolution under Article 183, paragraph (2) of that Act, that the share certificates currently issued are required to be submitted.

⑥With regard to a request for purchase of shares less than one lot made pursuant to Article 19, paragraph (1) of the Supplementary Provisions of the Former Commercial Code, etc. Amendment Act prior to the enforcement of this Act, the provisions then in force continue to govern.

⑦A stock company (excluding a stock company referred to in paragraph (2)) to which, at the time of enforcement of this Act, the provisions of Article 230-2, paragraph (1) of the Former Commercial Code are not to be applied pursuant to Article 6, paragraph (1) of the Supplementary Provisions of the Former Commercial Code, etc. Amendment Act is deemed to have made, on the date of enforcement of this Act, a resolution for an amendment to the articles of incorporation to the effect that fractions of less than one share are not entered in the fractional share register as fractional shares, pursuant to Article 220-2, paragraph (2) of the Amended Commercial Code.

⑧The provisions of Articles 219 and 220 of the Companies Act apply mutatis mutandis to the case where a provision requiring the submission of share certificates under paragraph (5) has been made, and the provisions of Article 976, item (ii) of that Act apply mutatis mutandis to the case where a person fails to give public notice or notice, or gives false public notice or notice, in violation of Article 219, paragraph (1) of that Act as applied mutatis mutandis in this paragraph, respectively.