In the following cases, a director must disclose the material facts on the relevant transactions at a shareholders meeting and obtain approval of the shareholders meeting:
取締役は、次に掲げる場合には、株主総会において、当該取引につき重要な事実を開示し、その承認を受けなければならない。
if the director intends to carry out, for themselves or for a third party, any transactions in the line of business of the stock company;
取締役が自己又は第三者のために株式会社の事業の部類に属する取引をしようとするとき。
if the director intends to carry out any transactions with the stock company for themselves or for a third party; or
取締役が自己又は第三者のために株式会社と取引をしようとするとき。
if a stock company intends to guarantee debts of a director or otherwise to carry out any transactions with a person other than the director that results in a conflict of interests between the stock company and relevant director.
株式会社が取締役の債務を保証することその他取締役以外の者との間において株式会社と当該取締役との利益が相反する取引をしようとするとき。
The provisions of Article 108 of the Civil Code do not apply to the transactions under item (ii) or item (iii) of the preceding paragraph that are approved under that paragraph.