①If the rate of the number set forth in item (I) to the number set forth in item (ii) exceeds 50% with regard to a subscriber for shares for subscription, a public company must notify shareholders of the name or address of the subscriber (hereinafter referred to as "special subscriber" in this paragraph and paragraph (4)), the number set forth in item (I) with respect to the special subscriber, and other matters prescribed by Ministry of Justice Order by two weeks before the day referred to in Article 199, paragraph (1), item (iv) (if the period referred to in the same item is specified, the first day of the period); provided however that this does not apply to cases where the special subscriber is a parent company, etc. of the public company or where the right to obtain the allotment of shares is granted to shareholders pursuant to the provisions of Article 202:

②The notice pursuant to the provisions of the preceding paragraph may be substituted with a public notice.

③Notwithstanding the provisions of paragraph (1), if a stock company has made a notification under Article 4, paragraphs (1) through (3) of the Financial Instruments and Exchange Act with respect to the matters referred to in paragraph (1) of this Article by two weeks before the day prescribed in the same paragraph, or where it is prescribed by Ministry of Justice Order as cases where it is unlikely that the protection of shareholders is compromised, the notice pursuant to the provisions of paragraph (1) is not required.

④When a shareholder holding one-tenth or more (if lesser proportion is prescribed in the articles of incorporation, the proportion) of the votes of all shareholders (excluding shareholders who cannot exercise voting rights in the shareholders meeting set forth in this paragraph) makes a notice to a public company that the shareholder is against subscription for shares for subscription by a special subscriber (including its subsidiary companies, etc.; hereinafter the same applies in this paragraph) within two weeks from the day of notice pursuant to the provisions of paragraph (1) or the day of public notice referred to in paragraph (2) (in the case set forth in the preceding paragraph, the day specified by Ministry of Justice Order), the public company must obtain approval for the allotment of shares for subscription to the special subscriber or for the contract referred to in Article 205, paragraph (1) with the special subscriber by the resolution at the shareholders meeting by the day before the day specified in paragraph (1);provided, however, that this does not apply if the public company's financial condition has deteriorated greatly and there is an urgent necessity in order for the public company to continue in business.

⑤Notwithstanding the provisions of Article 309, paragraph (1), the resolution at the shareholders meeting referred to in the preceding paragraph must be passed by attendance of the shareholders holding a majority of votes out of the shareholders who can exercise voting rights (if one third or more of the proportion is stipulated by the articles of incorporation, the proportion or more) and by a majority of voting rights of the shareholders presents (if any proportion higher than that is provided for in the articles of incorporation, the proportion or more).