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Article 117Determination of the Price of Shares

第百十七条(株式の価格の決定等)

If a shareholder exercises appraisal rights and an agreement determining the price of the shares is reached between the shareholder and the stock company, the stock company must pay that price within sixty days from the effective day.

株式買取請求があった場合において、株式の価格の決定について、株主と株式会社との間に協議が調ったときは、株式会社は、効力発生日から六十日以内にその支払をしなければならない。

If no agreement is reached within thirty days from the effective day on the determination of the price of the shares, the shareholders or the stock company may file a petition for the court to determine the price within thirty days after the expiration of that period.

株式の価格の決定について、効力発生日から三十日以内に協議が調わないときは、株主又は株式会社は、その期間の満了の日後三十日以内に、裁判所に対し、価格の決定の申立てをすることができる。

Notwithstanding the provisions of paragraph (7) of the preceding Article, in the cases provided for in the preceding paragraph, if the petition under that paragraph is not made within sixty days after the effective day, shareholders exercising appraisal rights may withdraw their demands for appraisal at any time after the expiration of that period.

前条第七項の規定にかかわらず、前項に規定する場合において、効力発生日から六十日以内に同項の申立てがないときは、その期間の満了後は、株主は、いつでも、株式買取請求を撤回することができる。

The stock company must also pay interest on the price determined by the court at the statutory interest rate from and including the day of the expiration of the period referred to in paragraph (1).

株式会社は、裁判所の決定した価格に対する第一項の期間の満了の日後の法定利率による利息をも支払わなければならない。

A stock company may pay the amount that the stock company considers to be a fair price to shareholders until the determination of the price of shares.

株式会社は、株式の価格の決定があるまでは、株主に対し、当該株式会社が公正な価格と認める額を支払うことができる。

A share purchase connected with the exercise of appraisal rights becomes effective on the effective day.

株式買取請求に係る株式の買取りは、効力発生日に、その効力を生ずる。

If a shareholder exercises appraisal rights with respect to shares for which share certificates are issued, the share certificate-issuing company (meaning a stock company the articles of incorporation of which have provisions to the effect that share certificate representing its shares (or, in case of a company with class shares, shares of all classes) are issued; the same applies hereinafter) must pay the price of the shares relating to the exercise of the appraisal rights in exchange for the share certificates.

株券発行会社(その株式(種類株式発行会社にあっては、全部の種類の株式)に係る株券を発行する旨の定款の定めがある株式会社をいう。以下同じ。)は、株券が発行されている株式について株式買取請求があったときは、株券と引換えに、その株式買取請求に係る株式の代金を支払わなければならない。

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