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Section 6 Share Units
The law as Act on the Arrangement of Related Acts upon the Enforcement of the Act Partially Amending the Civil Code, etc. (Act No. 46 of 2026) leaves it, with the words it changes marked.
The main text is read a page at a time: a chapter to a page, and a long chapter in runs of articles. The whole main text, and the supplementary provisions and appended tables this amendment changes. Those it leaves untouched are on the page for the text in force.
A stock company may provide in the articles of incorporation, with respect to the shares it issues, to the effect that a fixed number of shares constitutes one unit of shares, which entitles a shareholder to cast one vote at a shareholders meeting or general meeting of class shareholders.
株式会社は、その発行する株式について、一定の数の株式をもって株主が株主総会又は種類株主総会において一個の議決権を行使することができる一単元の株式とする旨を定款で定めることができる。
The fixed number in the preceding paragraph may not exceed the number prescribed by Ministry of Justice Order.
前項の一定の数は、法務省令で定める数を超えることはできない。
A company with class shares must provide for the share unit for each class of its shares.
種類株式発行会社においては、単元株式数は、株式の種類ごとに定めなければならない。
Shareholders who hold shares in a number less than one share unit (hereinafter referred to respectively as "holder of shares less than one unit" and "shares less than one unit") may not exercise voting right at a shareholders meeting or general meeting of class shareholders with respect to their shares less than one unit.
単元株式数に満たない数の株式（以下「単元未満株式」という。）を有する株主（以下「単元未満株主」という。）は、その有する単元未満株式について、株主総会及び種類株主総会において議決権を行使することができない。
A stock company may provide in the articles of incorporation to the effect that holders of shares less than one unit may not exercise some or all rights, other than the following rights, with respect to the relevant shares less than one unit:
株式会社は、単元未満株主が当該単元未満株式について次に掲げる権利以外の権利の全部又は一部を行使することができない旨を定款で定めることができる。
the right to take delivery of the consideration for acquisition provided for in Article 171, paragraph (1), item (i);
第百七十一条第一項第一号に規定する取得対価の交付を受ける権利
the right to take delivery of monies, etc. in exchange for the acquisition by the stock company of shares subject to call;
株式会社による取得条項付株式の取得と引換えに金銭等の交付を受ける権利
the right to receive the allotment of shares without contribution provided for in Article 185;
第百八十五条に規定する株式無償割当てを受ける権利
the right to demand the purchase of the shares less than one unit pursuant to the provisions of Article 192, paragraph (1);
第百九十二条第一項の規定により単元未満株式を買い取ることを請求する権利
the right to receive the distribution of residual assets;
残余財産の分配を受ける権利
beyond what is set forth in the preceding items, any matters prescribed by Ministry of Justice Order.
前各号に掲げるもののほか、法務省令で定める権利
A share certificate-issuing company may provide in the articles of incorporation to the effect that it may elect to not issue share certificates representing shares less than one unit.
株券発行会社は、単元未満株式に係る株券を発行しないことができる旨を定款で定めることができる。
If the share unit is to be prescribed, the directors must explain the reasons for the need to prescribe relevant share unit at the shareholders meeting at which it is intended to amend the articles of incorporation to prescribe relevant share unit.
単元株式数を定める場合には、取締役は、当該単元株式数を定める定款の変更を目的とする株主総会において、当該単元株式数を定めることを必要とする理由を説明しなければならない。
Notwithstanding the provisions of Article 466, a stock company may effect an amendment to the articles of incorporation that will increase the size of the share unit (or, for a company with class shares, the size of the share unit for the shares of each class; hereinafter the same applies in this Article) or create the provisions in the articles of incorporation with respect to the share unit without a resolution at a shareholders meeting, in cases that fall under both of the following items:
株式会社は、次のいずれにも該当する場合には、第四百六十六条の規定にかかわらず、株主総会の決議によらないで、単元株式数（種類株式発行会社にあっては、各種類の株式の単元株式数。以下この条において同じ。）を増加し、又は単元株式数についての定款の定めを設ける定款の変更をすることができる。
that the amendment will increase the size of the share unit simultaneously with a share split, or create the provisions in the articles of incorporation with respect to the share unit; and
株式の分割と同時に単元株式数を増加し、又は単元株式数についての定款の定めを設けるものであること。
that the number provided for in (a) below is not less than the number provided for in (b) below:
イに掲げる数がロに掲げる数を下回るものでないこと。
the number obtained by dividing the number of the shares held by each shareholder after the amendment to the articles of incorporation by the share unit;
当該定款の変更後において各株主がそれぞれ有する株式の数を単元株式数で除して得た数
the number of the shares held by each shareholder before relevant amendment to the articles of incorporation (or, if the share unit is prescribed, the number obtained by dividing the number of relevant shares by the share unit).
当該定款の変更前において各株主がそれぞれ有する株式の数（単元株式数を定めている場合にあっては、当該株式の数を単元株式数で除して得た数）
Holders of shares less than one unit may demand that the stock company purchase the shares less than one unit that they hold.
単元未満株主は、株式会社に対し、自己の有する単元未満株式を買い取ることを請求することができる。
A demand under the provisions of the preceding paragraph must be made by disclosing the number of the shares less than one unit relating to that demand (or, for a company with class shares, the classes of the shares less than one unit and the number of shares for each class).
前項の規定による請求は、その請求に係る単元未満株式の数（種類株式発行会社にあっては、単元未満株式の種類及び種類ごとの数）を明らかにしてしなければならない。
A holder of shares less than one unit who makes a demand pursuant to the provisions of paragraph (1) may withdraw relevant demand only if the approval of the stock company is obtained.
第一項の規定による請求をした単元未満株主は、株式会社の承諾を得た場合に限り、当該請求を撤回することができる。
If the demand pursuant to the provisions of paragraph (1) of the preceding Article is made, the amount provided for in each of the following items in accordance with the categories of the cases set forth in relevant items is to be the price of the shares less than one unit relating to relevant demand:
前条第一項の規定による請求があった場合には、次の各号に掲げる場合の区分に応じ、当該各号に定める額をもって当該請求に係る単元未満株式の価格とする。
if the shares less than one unit are shares with a market price, the amount calculated by the method prescribed by Ministry of Justice Order as the market price of relevant shares less than one unit;
当該単元未満株式が市場価格のある株式である場合 当該単元未満株式の市場価格として法務省令で定める方法により算定される額
in cases other than the cases set forth in the preceding item, the amount prescribed through discussions between the stock company and the holder of shares less than one unit who made the demand under the provisions of paragraph (1) of the preceding Article.
前号に掲げる場合以外の場合 株式会社と前条第一項の規定による請求をした単元未満株主との協議によって定める額
In the cases set forth in item (ii) of the preceding paragraph, the holder of shares less than one unit who made the demand pursuant to the provisions of paragraph (1) of the preceding Article, or the stock company, may file a petition for the court to determine the price within twenty days from the day when relevant demand is made.
前項第二号に掲げる場合には、前条第一項の規定による請求をした単元未満株主又は株式会社は、当該請求をした日から二十日以内に、裁判所に対し、価格の決定の申立てをすることができる。
In order to make the determination under the preceding paragraph, the court must consider the financial condition of the stock company at the time of the demand pursuant to the provisions of paragraph (1) of the preceding Article and all other circumstances.
裁判所は、前項の決定をするには、前条第一項の規定による請求の時における株式会社の資産状態その他一切の事情を考慮しなければならない。
Notwithstanding the provisions of paragraph (1), if petition is filed under paragraph (2) within the period provided for in that paragraph, the amount determined by the court in response to relevant petition is to be the price of the shares less than one unit.
第一項の規定にかかわらず、第二項の期間内に同項の申立てがあったときは、当該申立てにより裁判所が定めた額をもって当該単元未満株式の価格とする。
Notwithstanding the provisions of paragraph (1), in the cases set forth in item (ii) of that paragraph, if no petition is filed under paragraph (2) within the period provided for in that paragraph (except if the discussions under paragraph (1), item (ii) are successfully concluded within the period), the sale price of the shares less than one unit is to be the amount obtained by multiplying the amount of the net assets per share by the number of the shares less than one unit related to the demand pursuant to the provisions of paragraph (1) of the preceding Article.
第一項の規定にかかわらず、同項第二号に掲げる場合において、第二項の期間内に同項の申立てがないとき（当該期間内に第一項第二号の協議が調った場合を除く。）は、一株当たり純資産額に前条第一項の規定による請求に係る単元未満株式の数を乗じて得た額をもって当該単元未満株式の価格とする。
The purchase of the shares related to the demand pursuant to the provisions of paragraph (1) of the preceding Article becomes effective as at payment for the shares.
前条第一項の規定による請求に係る株式の買取りは、当該株式の代金の支払の時に、その効力を生ずる。
If a holder of shares less than one unit makes a demand pursuant to the provisions of paragraph (1) of the preceding Article with respect to shares for which share certificates are issued, the share certificate-issuing company must pay the price of the shares related to the demand in exchange for the share certificates.
株券発行会社は、株券が発行されている株式につき前条第一項の規定による請求があったときは、株券と引換えに、その請求に係る株式の代金を支払わなければならない。
A stock company may provide in the articles of incorporation to the effect that a holder of shares less than one unit may submit to relevant stock company a demand for the sale of shares less than one unit (meaning a demand that the stock company sell to a holder of shares less than one unit the number of shares which, together with the number of shares less than one unit held by relevant holder of shares less than one unit, will constitute one share unit; hereinafter the same applies in this Article).
株式会社は、単元未満株主が当該株式会社に対して単元未満株式売渡請求（単元未満株主が有する単元未満株式の数と併せて単元株式数となる数の株式を当該単元未満株主に売り渡すことを請求することをいう。以下この条において同じ。）をすることができる旨を定款で定めることができる。
Demand for the sale of shares less than one unit must be made by disclosing the number of the shares less than one unit to be sold to relevant holder of shares less than one unit (or, for a company with class shares, the classes of the shares less than one unit and the number of shares for each class).
単元未満株式売渡請求は、当該単元未満株主に売り渡す単元未満株式の数（種類株式発行会社にあっては、単元未満株式の種類及び種類ごとの数）を明らかにしてしなければならない。
A stock company that is subject to a demand for the sale of shares less than one unit must sell its treasury shares to relevant holders of shares less than one unit, unless the stock company does not hold, at the time of reception of relevant demand for the sale of shares less than one unit, treasury shares in a number corresponding to the number of the shares less than one unit provided for in the preceding paragraph.
単元未満株式売渡請求を受けた株式会社は、当該単元未満株式売渡請求を受けた時に前項の単元未満株式の数に相当する数の株式を有しない場合を除き、自己株式を当該単元未満株主に売り渡さなければならない。
The provisions of Article 192, paragraph (3), and paragraph (1) to paragraph (6) of the preceding Article apply mutatis mutandis to demand for the sale of shares less than one unit.
第百九十二条第三項及び前条第一項から第六項までの規定は、単元未満株式売渡請求について準用する。
Notwithstanding the provisions of Article 466, a stock company may decrease the size of the share unit or abolish the provisions of the articles of incorporation with respect to the share unit by effecting an amendment to the articles of incorporation by decision of the directors (or a resolution at a board of directors meeting for a company with board of directors).
株式会社は、第四百六十六条の規定にかかわらず、取締役の決定（取締役会設置会社にあっては、取締役会の決議）によって、定款を変更して単元株式数を減少し、又は単元株式数についての定款の定めを廃止することができる。
If an amendment is made in the articles of incorporation pursuant to the provisions of the preceding paragraph, the stock company must, without delay after the day of the effectuation of relevant amendment to the articles of incorporation, notify its shareholders (or, for a company with class shares , its class shareholders of the classes for which the share unit has been changed pursuant to the provisions of that paragraph) to the effect that relevant amendment to the articles of incorporation has been made.
前項の規定により定款の変更をした場合には、株式会社は、当該定款の変更の効力が生じた日以後遅滞なく、その株主（種類株式発行会社にあっては、同項の規定により単元株式数を変更した種類の種類株主）に対し、当該定款の変更をした旨を通知しなければならない。
A public notice may be substituted for the notice under the provisions of the preceding paragraph.
前項の規定による通知は、公告をもってこれに代えることができる。