When a special controlling shareholder intends to make a demand for cash-out (in cases of making a demand for share option cash-out along with the demand for cash-out, the demand for cash-out and demand for share option cash-out; hereinafter collectively referred to as "demand for share, etc. cash-out"), the special controlling shareholder must notify the subject company to that effect and matters set forth in the items of paragraph (1) of the preceding Article, and must obtain its approval.
When a special controlling shareholder intends to make a demand for share option cash-out along with the demand for cash-out, the subject company may not approve only the demand for share option cash-out.
A company with board of directors must make a determination as to whether or not to approve by a resolution of the board of directors meeting.
When a subject company makes a determination as to whether or not to approve under paragraph (1), it must notify the special controlling shareholder of the content of the determination.
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(Method of Demand for Share Cash-Out)
The demand for share, etc. cash-out must be made by specifying the matters set forth below:
株式売渡請求は、次に掲げる事項を定めてしなければならない。
Open this provision(Approval of Subject Company)
When a special controlling shareholder intends to make a demand for cash-out (in cases of making a demand for share option cash-out along with the demand for cash-out, the demand for cash-out and…
特別支配株主は、株式売渡請求（株式売渡請求に併せて新株予約権売渡請求をする場合にあっては、株式売渡請求及び新株予約権売渡請求。以下「株式等売渡請求」という。）をしようとするときは、対象会社に対し、その旨及び前条第一項各号に掲げる事項を通知し、その承認を受けなければならない。
Open this provisioncompany with board of directors
「取締役会設置会社」
A stock company that has a board of directors, or that this Act requires to have one.
Defined inArticle 2, paragraph (1), item (vii)· applies throughout the law
special controlling shareholdermachine translation
「特別支配株主」
A person who, together with the stock companies it wholly owns and similar corporations set by Ministry of Justice Order (法務省令), holds nine tenths or more of the votes in a stock company (or any higher proportion its articles of incorporation set), and who may therefore demand that all other shareholders sell it their shares.
Defined inArticle 179, paragraph (1)
subject company
「対象会社」
The stock company whose shares a special controlling shareholder (one holding at least nine tenths of the votes) demands the other shareholders sell to it in a cash-out.
Short name set inArticle 179, paragraph (2)
demand for cash-out
「株式売渡請求」
A special controlling shareholder's (特別支配株主) demand under Article 179, paragraph (1) that all the other shareholders sell it all their shares in the company — the shareholder being one that, with its wholly owned companies, holds at least nine-tenths of all shareholders' votes.
Short name set inArticle 179, paragraph (2)· applies only in this chapter and in Article 846-2, paragraph (2), item (i)
demand for share option cash-out
「新株予約権売渡請求」
A demand by a special controlling shareholder (one holding at least nine tenths of the votes), made along with its demand for cash-out of the shares, that all holders of the company's share options sell them to it.
Short name set inArticle 179, paragraph (3)
demand for share, etc. cash-out
「株式等売渡請求」
A special controlling shareholder's demand for cash-out of the shares, together with its demand for cash-out of the share options where it makes both.
Short name set inArticle 179-3, paragraph (1)
board of directors
取締役会
The body made up of all of a stock company's directors (Companies Act, Article 362, paragraph (1)). It decides how the company's business is carried out, supervises the directors, and appoints and removes the representative directors (代表取締役) (Article 362, paragraphs (2) and (3)) — except in a company with a nominating committee and the other committees (指名委員会等設置会社), where it appoints representative executive officers (代表執行役) instead (Articles 416 and 420). Some decisions, such as disposing of important assets or borrowing a large amount, it normally may not hand to the directors (Article 362, paragraph (4)). A company with an audit and supervisory committee (監査等委員会設置会社) can hand more of them to directors (Article 399-13, paragraphs (5) and (6)), and a company with the committees hands them to executive officers (執行役) rather than directors (Article 416, paragraphs (3) and (4)). A company chooses in its articles of incorporation whether to have one (Article 326, paragraph (2)), but a public company (公開会社), among others, must (Article 327, paragraph (1)): a public company is one whose articles of incorporation let at least some of its shares change hands without the company's approval (Article 2, item (v)). A company with a board must have at least three directors (Article 331, paragraph (5)).
Written by AI using Companies Act, Arts. 2, 326, 327, 331, 362, 399-13, 416, 420 as a reference.