The provisions of Article 157 through Article 160 do not apply if a stock company acquires shares in relevant stock company through transactions undertaken by that stock company in the market or through a takeover bid provided for in Article 27-2, paragraph (6) of the Financial Instruments and Exchange Act (hereinafter in this Article referred to as "market transactions").
第百五十七条から第百六十条までの規定は、株式会社が市場において行う取引又は金融商品取引法第二十七条の二第六項に規定する公開買付けの方法（以下この条において「市場取引等」という。）により当該株式会社の株式を取得する場合には、適用しない。
A company with board of directors may provide in its articles of incorporation to the effect that the acquisition of own shares by market transactions may be prescribed by a resolution at a board of directors meeting.
If the provisions of the articles of incorporation under the provisions of the preceding paragraph is created, for the purpose of the application of the provisions of Article 156, paragraph (1), the phrase "shareholders meeting" in this paragraph is deemed to be replaced with "shareholders meeting (or shareholders meeting or board of director's meeting in the cases provided for in Article 165, paragraph (1))".