Article 203Applications for Shares for Subscription

①A stock company must notify persons who intend to subscribe for shares for subscription in response to solicitation in Article 199, paragraph (1) of the matters set forth in the following items:

②A person who submits an application to subscribe for shares for subscription in response to solicitation in Article 199, paragraph (1) must deliver a document giving the following information:

③A person who submits an application under the preceding paragraph may, in lieu of delivering a document as referred to in that paragraph, provide the information that is required to be detailed in the document referred to in that paragraph by electronic or magnetic means, with the approval of the stock company and pursuant to the provisions of Cabinet Order. In these cases, the person who submitted the application is deemed to have delivered the document under that paragraph.

④The provisions of paragraph (3) do not apply if the stock company has issued a prospectus provided for in Article 2, paragraph (10) of the Financial Instruments and Exchange Act that states the matters set forth in each item of that paragraph to a person who intends to submit the application in paragraph (1), and in other cases prescribed by Ministry of Justice Order as cases where it is unlikely that the protection of persons who intend to submit applications for subscription for shares for subscription is compromised.

⑤If there are changes in the matters set forth in each item of paragraph (1), the stock company must immediately notify persons who have submitted applications in paragraph (2) (hereinafter in this Subsection referred to as "applicants") thereof and of the matters so changed.

⑦The notices or demands referred to in the preceding paragraph are deemed to have arrived at the time when that notice or demand should normally have arrived.