Companies Act

When an immediate appeal against the judicial decision set forth in the items of Article 870, paragraph (2) is made, the court must send a copy of the petition for appeal to the petitioner and the persons specified in each of those items (excluding the appellant). In this case, the provisions of Article 870-2, paragraphs (2) and (3) apply mutatis mutandis.

The provisions of Article 870-2, paragraphs (5) through (8) apply mutatis mutandis to cases where an immediate appeal referred to in the preceding paragraph is made.

The immediate appeal referred to in Article 872 has the effect of staying execution; provided, however, that this does not apply to an immediate appeal against the following judicial decisions set forth in Article 870, paragraph (1), items (i) through (iv) and (viii).

No appeal may be entered against the following judicial decisions:

a judicial decision on the appointment or selection of a person who is temporarily to perform the duties of a director, accounting advisor, company auditor, representative director, committee member, executive officer or representative executive officer prescribed in Article 870, paragraph (1), item (i), a liquidator, a representative liquidator, a liquidator who represents a liquidating membership company, a person who is temporarily to perform the duties of a liquidator or representative liquidator prescribed in that item, an inspector, the appraiser set forth in Article 501, paragraph (1) (including the cases where it is applied mutatis mutandis pursuant to Article 822, paragraph (3)) or Article 662, paragraph (1), the person who retains accounting materials set forth in Article 508, paragraph (2) (including the cases where it is applied mutatis mutandis pursuant to Article 822, paragraph (3)) or Article 672, paragraph (3), a special agent of a bond administrator or an assistant bond administrator or the bond administrator or an assistant bond administrator to succeed to the administration of bonds set forth in Article 714, paragraph (3) (including cases where it is applied mutatis mutandis pursuant to Article 714-7);

a judicial decision on appointment or dismissal of the administrator referred to in Article 825, paragraph (2) (including the cases where it is applied mutatis mutandis pursuant to Article 827, paragraph (2));

a judicial decision under the provisions of Article 825, paragraph (6) (including the cases where it is applied mutatis mutandis pursuant to Article 827, paragraph (2)); and

a judicial decision upholding a petition for permission under the provisions of this Act (excluding the judicial decisions set forth in Article 870, paragraph (1), item (ix) and paragraph (2), item (i) of the same Article).

The provisions of Article 40 and Article 57, paragraph (2), item (ii) of the non-contentious cases procedures Act do not apply to non-contentious cases under the provisions of this Act.

Beyond what is specified in this Act, necessary matters concerning the procedures of non-contentious cases under the provisions of this Act are specified by the Supreme Court Rules.

When several cases relating to the petition referred to in Article 840, paragraph (2) (including the cases where it is applied mutatis mutandis pursuant to Article 841, paragraph (2) and Article 842, paragraph (2)) are pending simultaneously, the hearings and judicial decisions thereof must be made in consolidation.

A judicial decision on the petition referred to in Article 840, paragraph (2) (including the cases where it is applied mutatis mutandis pursuant to Article 841, paragraph (2)) is effective against all of the shareholders.

A judicial decision on the petition referred to in Article 840, paragraph (2) as applied mutatis mutandis pursuant to Article 842, paragraph (2) is effective against all of the share option holders.

Notwithstanding the provisions of Article 868, paragraph (1), if a corporation has a majority of the voting rights of all shareholders of a stock company (excluding shareholders who are unable to exercise voting rights on all the matters which may be resolved at the shareholders meeting; the same applies in the following paragraph), if a special liquidation case, a bankruptcy case, a rehabilitation case or a reorganization case (hereinafter referred to as a "special liquidation case, etc." in this Article) is pending with regard to relevant corporation (hereinafter referred to as the "parent corporation" in this Article), a petition for commencement of special liquidation relating to relevant stock company may be filed alternatively with the district court before which the special liquidation case, etc. of the parent corporation is pending.

If the stock company prescribed in the preceding paragraph, or the parent corporation and the stock company prescribed in that paragraph have a majority of the voting rights of all shareholders of another stock company, a petition for commencement of special liquidation relating to relevant other stock company may be filed alternatively with the district court before which the special liquidation case, etc. of the parent corporation is pending.

With regard to application of the preceding two paragraphs, the shareholder prescribed by Ministry of Justice Order referred to in Article 308, paragraph (1) is deemed to have voting rights with respect to the shares which the shareholder holds.

Notwithstanding the provisions of Article 868, paragraph (1), if a stock company has, pursuant to the provisions of Article 444, prepared consolidated financial statements of that stock company or another stock company for the most recent business year and the contents thereof have been reported to the annual shareholders meeting of that stock company, if a special liquidation case, etc. is pending with regard to that stock company, a petition for commencement of special liquidation relating to relevant other stock company may be filed alternatively with the district court before which the special liquidation case, etc. of that stock company is pending.

Notwithstanding the provisions of Article 868, paragraph (1), if an order to commence special liquidation is issued with regard to a liquidating stock company, a case relating to a petition under the provisions of Part II, Chapter IX, Section 1 (excluding Article 508) (referred to as an "ordinary liquidation case" in the following paragraph) relating to relevant liquidating stock company is under the jurisdiction of the district court (hereinafter referred to as the "special liquidation court" in this Section) before which the special liquidation case of relevant liquidating stock company is pending.

If a special liquidation case relating to a liquidating stock company is pending before a district court other than the district court before which an ordinary liquidation case relating to the same liquidating stock company is pending and an order to commence special liquidation has been issued, if it is found reasonable for processing relevant ordinary liquidation case, the court (meaning a judge or a panel of judges handling the ordinary liquidation case) may transfer relevant ordinary liquidation case to the special liquidation court ex officio.

The provisions of Article 869 do not apply to a petition for permission under the provisions of Part II, Chapter IX, Section 2 (excluding Article 547, paragraph (3)).

A ruling concerning proceedings of special liquidation against which an immediate appeal may be entered must append the reason thereof; provided, however, that this does not apply to a ruling under the provisions of Article 526, paragraph (1) (including the cases where it is applied mutatis mutandis pursuant to paragraph (2) of that Article) and Article 532, paragraph (1) (including the cases where it is applied mutatis mutandis pursuant to Article 534).

The provisions of Article 871 do not apply to a ruling concerning proceedings of special liquidation.

A person who has an interest in a judicial decision concerning proceedings of special liquidation may enter an immediate appeal against relevant judicial decision only if there are special provisions in this Section.

The immediate appeal referred to in the preceding paragraph has the effect of staying execution except as otherwise provided by this Section.

A public notice under the provisions of this Section is effected by publication in Official Gazette.

The public notice referred to in the preceding paragraph becomes effective on the day immediately following the day of publication.

The provisions of the preceding paragraph do not apply to sound recording tapes or video tapes (including objects on which certain matters are recorded by a method equivalent thereto) among the documents, etc. In these cases, a court clerk must permit reproduction of these objects if there is a request from an interested party for these objects.