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.
Read this with the articles around it
(Self-Contracting and Representation of Both Parties)
An act that a person performs as an agent of the counterparty or as agent of both parties for the same juridical act is deemed to be an act performed by a person without authority to represent…
同一の法律行為について、相手方の代理人として、又は当事者双方の代理人としてした行為は、代理権を有しない者がした行為とみなす。ただし、債務の履行及び本人があらかじめ許諾した行為については、この限りでない。
Open this provision(Restrictions on Competition and Conflicting Interest Transactions)
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。
Open this provision(Restrictions on Competition and Conflicting Interest Transactions)
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。
Open this provision(Restrictions on Competition and Conflicting Interest Transactions)
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…
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。
Open this provisiondirector
取締役
An officer of a stock company, elected by the shareholders meeting (Companies Act, Article 329, paragraph (1)). Every stock company has at least one (Article 326, paragraph (1)). Where there is no board of directors, the directors run the company's business unless the articles of incorporation say otherwise (Article 348, paragraph (1)), and each of them represents it unless the company has chosen representative directors (代表取締役) or others to do that (Article 349, paragraphs (1) and (3)). Where there is a board (取締役会, board of directors), the directors are its members, and the board decides the business and normally chooses the representative directors from among them (Article 362). The term normally runs to the annual shareholders meeting for the last business year ending within two years of election (Article 332, paragraph (1)).
Written by AI using Companies Act, Arts. 326, 329, 332, 348, 349, 362 as a reference.
shareholders meeting
株主総会
The meeting of a stock company's shareholders, and the body through which they decide the company's basic matters. It elects the directors and company auditors (Companies Act, Article 329, paragraph (1)) and changes the articles of incorporation (Article 466). In a company without a board of directors it may decide any matter about the company; in one with a board, only what the Act or the articles of incorporation leave to it (Article 295). An annual shareholders meeting must be called after the end of every business year, and another may be called whenever needed (Article 296). A resolution normally passes by a majority of the votes present, with holders of a majority of the votes entitled to vote attending (Article 309, paragraph (1)).
Written by AI using Companies Act, Arts. 295, 296, 309, 329, 466 as a reference.