Article 399-13Authority of the Board of Directors of a Company with Audit and Supervisory Committee
第三百九十九条の十三（監査等委員会設置会社の取締役会の権限）
The board of directors of a company with audit and supervisory committee performs the following duties notwithstanding of provisions of Article 362:
監査等委員会設置会社の取締役会は、第三百六十二条の規定にかかわらず、次に掲げる職務を行う。
deciding the following matters and execution of the operations of the company with audit and supervisory committee:
次に掲げる事項その他監査等委員会設置会社の業務執行の決定
basic management policy;
経営の基本方針
the matters prescribed by Ministry of Justice Order as those necessary for the execution of the duties of the audit and supervisory committee;
監査等委員会の職務の執行のため必要なものとして法務省令で定める事項
the development of systems necessary to ensure that the execution of the duties by the directors complies with the laws and regulations and the articles of incorporation, and other systems prescribed by Ministry of Justice Order as systems necessary to ensure the properness of operations of a stock company and of operations of a group of enterprises consisting of the stock company and its subsidiary companies;
取締役の職務の執行が法令及び定款に適合することを確保するための体制その他株式会社の業務並びに当該株式会社及びその子会社から成る企業集団の業務の適正を確保するために必要なものとして法務省令で定める体制の整備
supervising the execution of duties by directors; and
取締役の職務の執行の監督
appointing and removing representative directors.
代表取締役の選定及び解職
The board of directors of a company with audit and supervisory committee must determine matters set forth in item (i), (a) through (c) of the preceding paragraph.
監査等委員会設置会社の取締役会は、前項第一号イからハまでに掲げる事項を決定しなければならない。
The board of directors of a company with audit and supervisory committee must appoint representative directors from among the directors (excluding directors who are audit and supervisory committee members).
監査等委員会設置会社の取締役会は、取締役（監査等委員である取締役を除く。）の中から代表取締役を選定しなければならない。
The board of directors of a company with audit and supervisory committee may not delegate the decision on the execution of the following matters and other important operations to directors:
監査等委員会設置会社の取締役会は、次に掲げる事項その他の重要な業務執行の決定を取締役に委任することができない。
the disposal of and acceptance of transfer of important assets;
重要な財産の処分及び譲受け
borrowing in a significant amount;
多額の借財
the appointment and dismissal of an important employee including managers;
支配人その他の重要な使用人の選任及び解任
the establishment, changes or abolition of important structures including branch offices;
支店その他の重要な組織の設置、変更及び廃止
matters set forth in Article 676, item (i) and other matters prescribed by Ministry of Justice Order as important matters regarding the solicitation of persons who subscribe bonds; and
第六百七十六条第一号に掲げる事項その他の社債を引き受ける者の募集に関する重要な事項として法務省令で定める事項
exemption from liability under Article 423, paragraph (1) pursuant to provisions of the articles of incorporation under the provisions of Article 426, paragraph (1).
第四百二十六条第一項の規定による定款の定めに基づく第四百二十三条第一項の責任の免除
Notwithstanding the provisions of the preceding paragraph, if a majority of directors of a company with audit and supervisory committee are outside directors, the board of directors of the company with audit and supervisory committee may delegate the decision on execution of important operations to directors by its resolution; provided, however, that this does not apply to the following matters:
前項の規定にかかわらず、監査等委員会設置会社の取締役の過半数が社外取締役である場合には、当該監査等委員会設置会社の取締役会は、その決議によって、重要な業務執行の決定を取締役に委任することができる。ただし、次に掲げる事項については、この限りでない。
decisions under Article 136 or Article 137, paragraph (1), and the designation under the provisions of Article 140, paragraph (4);
decisions on the matters set forth in each item of Article 156, paragraph (1) applied pursuant to Article 165, paragraph (3) following the deemed replacement of terms;
decisions under Article 262 or Article 263, paragraph (1);
第二百六十二条又は第二百六十三条第一項の決定
decisions on the matters set forth in each item of Article 298, paragraph (1);
第二百九十八条第一項各号に掲げる事項の決定
decisions on the content of proposals to be submitted to a shareholders meeting (excluding those regarding the election and dismissal of financial auditors and the refusal to reelect financial auditors);
株主総会に提出する議案（会計監査人の選任及び解任並びに会計監査人を再任しないことに関するものを除く。）の内容の決定
delegation pursuant to the provisions of Article 348-2, paragraph (1);
第三百四十八条の二第一項の規定による委託
determination of matters specified in Article 361, paragraph (7) pursuant to that paragraph;
第三百六十一条第七項の規定による同項の事項の決定
approval under Article 356, paragraph (1) applied pursuant to Article 365, paragraph (1) following the deemed replacement of terms;
第三百六十五条第一項において読み替えて適用する第三百五十六条第一項の承認
designation of the directors to call the board of directors meeting pursuant to the provisions of the proviso to Article 366, paragraph (1);
第三百六十六条第一項ただし書の規定による取締役会を招集する取締役の決定
designation of a person to represent the company with audit and supervisory committee pursuant to the provisions of Article 399-7, paragraph (1), item (i);
第三百九十九条の七第一項第一号の規定による監査等委員会設置会社を代表する者の決定
matters set forth in item (vi) of the preceding paragraph;
前項第六号に掲げる事項
decisions on the contents of indemnity agreements (meaning indemnity agreements provided in Article 430-2, paragraph (1); the same applies in Article 416, paragraph 4, item (xiv));
補償契約（第四百三十条の二第一項に規定する補償契約をいう。第四百十六条第四項第十四号において同じ。）の内容の決定
decisions on the contents of officer indemnification insurance policies (meaning officer indemnification insurance policies provided in Article 430-3, paragraph (1); the same applies in Article 416, paragraph (4), item (xv));
役員等賠償責任保険契約（第四百三十条の三第一項に規定する役員等賠償責任保険契約をいう。第四百十六条第四項第十五号において同じ。）の内容の決定
approvals under Article 436, paragraph (3), Article 441, paragraph (3) and Article 444, paragraph (5);
decisions on the matters to be decided pursuant to the provisions of Article 454, paragraph (1) applied pursuant to paragraph (5) of the same Article following the deemed replacement of terms;
第四百五十四条第五項において読み替えて適用する同条第一項の規定により定めなければならないとされる事項の決定
decisions on the contents of contracts relating to the acts set forth in each item of Article 467, paragraph (1) (excluding those which do not require approval by a resolution at a shareholders meeting of the company with audit and supervisory committee);
第四百六十七条第一項各号に掲げる行為に係る契約（当該監査等委員会設置会社の株主総会の決議による承認を要しないものを除く。）の内容の決定
decisions on the content of merger agreements (excluding those which do not require approval by a resolution at a shareholders meeting of the company with audit and supervisory committee);
合併契約（当該監査等委員会設置会社の株主総会の決議による承認を要しないものを除く。）の内容の決定
decisions on the content of absorption-type company split agreements (excluding those which do not require approval by a resolution at a shareholders meeting of the company with audit and supervisory committee);
吸収分割契約（当該監査等委員会設置会社の株主総会の決議による承認を要しないものを除く。）の内容の決定
decisions on the content of incorporation-type company split plans (excluding those which do not require approval by a resolution at a shareholders meeting of the company with audit and supervisory committee);
新設分割計画（当該監査等委員会設置会社の株主総会の決議による承認を要しないものを除く。）の内容の決定
decisions on the content of share exchange agreements (excluding those which do not require approval by a resolution at a shareholders meeting of the company with audit and supervisory committee);
株式交換契約（当該監査等委員会設置会社の株主総会の決議による承認を要しないものを除く。）の内容の決定
decisions on the contents of share transfer plans; and
株式移転計画の内容の決定
decisions on the content of partial share exchange plans (excluding those which do not require approval by a resolution at a shareholders meeting of the company with audit and supervisory committee).
株式交付計画（当該監査等委員会設置会社の株主総会の決議による承認を要しないものを除く。）の内容の決定
Notwithstanding the provisions of the preceding two paragraphs, a company with audit and supervisory committee may stipulate in the articles of incorporation that all or part of decisions of execution of important operations (excluding matters set forth in items of the preceding paragraph) to delegate directors by the resolution of the board of directors meeting.
前二項の規定にかかわらず、監査等委員会設置会社は、取締役会の決議によって重要な業務執行（前項各号に掲げる事項を除く。）の決定の全部又は一部を取締役に委任することができる旨を定款で定めることができる。
Read this with the articles around it
(Requests for Approval by Shareholders)
If shareholders of shares with restriction on transfer intend to transfer the shares with restriction on transfer held by the same to others…
譲渡制限株式の株主は、その有する譲渡制限株式を他人（当該譲渡制限株式を発行した株式会社を除く。）に譲り渡そうとするときは、当該株式会社に対し、当該他人が当該譲渡制限株式を取得することについて承認をするか否かの決定をすることを請求することができる。
Open this provision(Request for Approval by Acquirers of Shares)
Acquirers of shares who have acquired shares with restriction on transfer may request that the stock company make a determination as to whether or not to approve the acquisition of relevant shares…
譲渡制限株式を取得した株式取得者は、株式会社に対し、当該譲渡制限株式を取得したことについて承認をするか否かの決定をすることを請求することができる。
Open this provision(Purchase by Stock Company or Designated Purchaser)
Notwithstanding the provisions of paragraph (1), in the cases provided for in that paragraph, a stock company may designate a person to purchase some or all of the subject shares…
第一項の規定にかかわらず、同項に規定する場合には、株式会社は、対象株式の全部又は一部を買い取る者（以下この款において「指定買取人」という。）を指定することができる。
Open this provision(Determination of Matters Regarding Acquisition of Shares)
A stock company must prescribe the following matters by a resolution at a shareholders meeting in advance in order to acquire for value own shares by agreement with its shareholders; provided…
株式会社が株主との合意により当該株式会社の株式を有償で取得するには、あらかじめ、株主総会の決議によって、次に掲げる事項を定めなければならない。ただし、第三号の期間は、一年を超えることができない。
Open this provisionIf the provisions of the articles of incorporation under the provisions of the preceding paragraph is created, for the purpose of the application of the provisions of Article 156, paragraph (1)…
前項の規定による定款の定めを設けた場合における第百五十六条第一項の規定の適用については、同項中「株主総会」とあるのは、「株主総会（第百六十五条第一項に規定する場合にあっては、株主総会又は取締役会）」とする。
Open this provision(Requests for Approval by Share Option Holders)
If share option holders with restriction on transfer intend to transfer share options with restriction on transfer held by the same to others…
譲渡制限新株予約権の新株予約権者は、その有する譲渡制限新株予約権を他人（当該譲渡制限新株予約権を発行した株式会社を除く。）に譲り渡そうとするときは、当該株式会社に対し、当該他人が当該譲渡制限新株予約権を取得することについて承認をするか否かの決定をすることを請求することができる。
Open this provision(Request for Approval by Acquirers of Share Options)
Acquirers of share options who have acquired share options with restriction on transfer may request that the stock company make a determination as to whether or not to approve the acquisition of…
譲渡制限新株予約権を取得した新株予約権取得者は、株式会社に対し、当該譲渡制限新株予約権を取得したことについて承認をするか否かの決定をすることを請求することができる。
Open this provision(Determination of Calling a Shareholders Meeting)
Directors (in cases where shareholders call a shareholders meeting pursuant to the provisions of paragraph (4) of the preceding Article, relevant shareholders; the same applies in the main clause of…
取締役（前条第四項の規定により株主が株主総会を招集する場合にあっては、当該株主。次項本文及び次条から第三百二条までにおいて同じ。）は、株主総会を招集する場合には、次に掲げる事項を定めなければならない。
Open this provision(Delegation of Execution of Operations to Outside Directors)
If a stock company (excluding a company with nominating committee, etc.) has outside directors, if there is a conflict of interests between the stock company and its directors or there is otherwise a…
株式会社（指名委員会等設置会社を除く。）が社外取締役を置いている場合において、当該株式会社と取締役との利益が相反する状況にあるとき、その他取締役が当該株式会社の業務を執行することにより株主の利益を損なうおそれがあるときは、当該株式会社は、その都度、取締役の決定（取締役会設置会社にあっては、取締役会の決議）によって…
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(Remuneration for Directors)
If the articles of incorporation or a resolution of the shareholders meeting contains provisions on the matters set forth in each item of paragraph (1) as the content of the remunerations of…
次に掲げる株式会社の取締役会は、取締役（監査等委員である取締役を除く。以下この項において同じ。）の報酬等の内容として定款又は株主総会の決議による第一項各号に掲げる事項についての定めがある場合には、当該定めに基づく取締役の個人別の報酬等の内容についての決定に関する方針として法務省令で定める事項を決定しなければならない。
Open this provision(Authority of Board of Directors)
Board of directors is composed of all directors.
取締役会は、すべての取締役で組織する。
Open this provision(Restrictions on Competition and Transactions with Companies with Board of Directors)
For the purpose of the application of the provisions of Article 356 to a company with board of directors, the term "shareholders meeting" in paragraph (1) of that Article is deemed to be replaced…
取締役会設置会社における第三百五十六条の規定の適用については、同条第一項中「株主総会」とあるのは、「取締役会」とする。
Open this provision(Convenor)
A board of directors meetings is called by any director; provided, however, that, if the director to call the board of directors meetings is designated by the articles of incorporation or the board…
取締役会は、各取締役が招集する。ただし、取締役会を招集する取締役を定款又は取締役会で定めたときは、その取締役が招集する。
Open this provision(Authority of the Board of Directors of a Company with Audit and Supervisory Committee)
deciding the following matters and execution of the operations of the company with audit and supervisory committee:
次に掲げる事項その他監査等委員会設置会社の業務執行の決定
Open this provision(Authority of the Board of Directors of a Company with Audit and Supervisory Committee)
The board of directors of a company with audit and supervisory committee may not delegate the decision on the execution of the following matters and other important operations to directors:
監査等委員会設置会社の取締役会は、次に掲げる事項その他の重要な業務執行の決定を取締役に委任することができない。
Open this provision(Authority of the Board of Directors of a Company with Audit and Supervisory Committee)
exemption from liability under Article 423, paragraph (1) pursuant to provisions of the articles of incorporation under the provisions of Article 426, paragraph (1).
第四百二十六条第一項の規定による定款の定めに基づく第四百二十三条第一項の責任の免除
Open this provision(Authority of the Board of Directors of a Company with Audit and Supervisory Committee)
Notwithstanding the provisions of the preceding paragraph, if a majority of directors of a company with audit and supervisory committee are outside directors…
前項の規定にかかわらず、監査等委員会設置会社の取締役の過半数が社外取締役である場合には、当該監査等委員会設置会社の取締役会は、その決議によって、重要な業務執行の決定を取締役に委任することができる。ただし、次に掲げる事項については、この限りでない。
Open this provision(Authority of the Board of Directors of a Company with Audit and Supervisory Committee)
approvals under Article 436, paragraph (3), Article 441, paragraph (3) and Article 444, paragraph (5);
第四百三十六条第三項、第四百四十一条第三項及び第四百四十四条第五項の承認
Open this provision(Representative of a Company in Actions between a Company with Audit and Supervisory Committee and Directors)
if audit and supervisory committee members are party to the suit relating to relevant action:the person designated by the board of directors…
監査等委員が当該訴えに係る訴訟の当事者である場合 取締役会が定める者（株主総会が当該訴えについて監査等委員会設置会社を代表する者を定めた場合にあっては、その者）
Open this provision(Authority of Board of Directors of Companies with a Nominating Committee)
The board of directors of a company with nominating committee, etc. performs the following duties notwithstanding the provisions of Article 362:
指名委員会等設置会社の取締役会は、第三百六十二条の規定にかかわらず、次に掲げる職務を行う。
Open this provision(Authority of Board of Directors of Companies with a Nominating Committee)
decisions on the contents of indemnity agreements;
補償契約の内容の決定
Open this provision(Authority of Board of Directors of Companies with a Nominating Committee)
decisions on the contents of officer indemnification insurance policies ;
役員等賠償責任保険契約の内容の決定
Open this provision(Liability of Officers to Stock Companies for Damages)
If a director, accounting advisor, company auditor, executive officer or financial auditor (hereinafter in this Chapter referred to as "officers, etc.") neglects their duties…
取締役、会計参与、監査役、執行役又は会計監査人（以下この章において「役員等」という。）は、その任務を怠ったときは、株式会社に対し、これによって生じた損害を賠償する責任を負う。
Open this provision(Provisions of Articles of Incorporation on Exemption by Directors)
Notwithstanding the provisions of Article 424, companies with company auditor (limited to cases where there are two or more directors), companies with audit and supervisory committee…
第四百二十四条の規定にかかわらず、監査役設置会社（取締役が二人以上ある場合に限る。）、監査等委員会設置会社又は指名委員会等設置会社は、第四百二十三条第一項の責任について、当該役員等が職務を行うにつき善意でかつ重大な過失がない場合において、責任の原因となった事実の内容…
Open this provision(Indemnity Agreements)
When a stock company makes a decision on the content of an agreement (hereinafter referred to in this Article as an "indemnity agreement") in which the stock company promises to indemnify officers…
株式会社が、役員等に対して次に掲げる費用等の全部又は一部を当該株式会社が補償することを約する契約（以下この条において「補償契約」という。）の内容の決定をするには、株主総会（取締役会設置会社にあっては、取締役会）の決議によらなければならない。
Open this provision(Insurance Policies Concluded for the Benefit of Officers)
When a stock company makes a decision on the content of an insurance policy entered into with an insurer under which the insurer promises to pay compensation for damage arising from officer…
株式会社が、保険者との間で締結する保険契約のうち役員等がその職務の執行に関し責任を負うこと又は当該責任の追及に係る請求を受けることによって生ずることのある損害を保険者が塡補することを約するものであって…
Open this provision(Audit of Financial Statements)
At companies with board of directors, the financial statements, business reports, and annexed detailed statements accompanying them which are referred to in paragraph (2) of the preceding Article…
取締役会設置会社においては、前条第二項の計算書類及び事業報告並びにこれらの附属明細書（第一項又は前項の規定の適用がある場合にあっては、第一項又は前項の監査を受けたもの）は、取締役会の承認を受けなければならない。
Open this provision(Provisional Financial Statements)
At companies with board of directors, provisional financial statements (or, if the provisions of the preceding paragraph apply, the statements audited under that paragraph) must be approved by the…
取締役会設置会社においては、臨時計算書類（前項の規定の適用がある場合にあっては、同項の監査を受けたもの）は、取締役会の承認を受けなければならない。
Open this provisionIf a company with financial auditor is a company with board of directors, the consolidated financial statements audited as provided for in the preceding paragraph must be approved by the board of…
会計監査人設置会社が取締役会設置会社である場合には、前項の監査を受けた連結計算書類は、取締役会の承認を受けなければならない。
Open this provision(Decisions on Matters Regarding Dividends of Surplus)
Whenever a stock company intends to distribute dividends of surplus pursuant to the provisions of the preceding Article, it must specify the following matters by a resolution at a shareholders…
株式会社は、前条の規定による剰余金の配当をしようとするときは、その都度、株主総会の決議によって、次に掲げる事項を定めなければならない。
Open this provision(Decisions on Matters Regarding Dividends of Surplus)
A company with board of directors may provide in the articles of incorporation that it may distribute a dividend of surplus only once during a business year by a resolution of the board of directors…
取締役会設置会社は、一事業年度の途中において一回に限り取締役会の決議によって剰余金の配当（配当財産が金銭であるものに限る。以下この項において「中間配当」という。）をすることができる旨を定款で定めることができる。
Open this provision(Approval of Transfers of Business)
If a stock company intends to commit any of the following acts, it must obtain the approval of the contracts relating to the acts by the resolution at the shareholders meeting no later than the day…
株式会社は、次に掲げる行為をする場合には、当該行為がその効力を生ずる日（以下この章において「効力発生日」という。）の前日までに、株主総会の決議によって、当該行為に係る契約の承認を受けなければならない。
Open this provision(Determination of Matters on Bonds for Subscription)
the total amount of bonds for subscription;
募集社債の総額
Open this provisionsubsidiary company
「子会社」
A stock company in which a company holds a majority of the votes, or any other corporation whose management a company controls, as set out by Ministry of Justice Order (法務省令).
Defined inArticle 2, paragraph (1), item (iii)· applies throughout the law
company with audit and supervisory committee
「監査等委員会設置会社」
A stock company that has an audit and supervisory committee, made up of directors.
Defined inArticle 2, paragraph (1), item (xi-2)· applies throughout the law
outside director
「社外取締役」
A director of a stock company who meets all the independence requirements in Article 2, item (xv), such as not running, and not having run in the previous ten years, the business of the company or its subsidiaries.
Defined inArticle 2, paragraph (1), item (xv)· applies throughout the law
bond
「社債」
A money claim against a company, arising from an allotment the company makes under this Act, that is to be repaid according to the terms set under Article 676.
Defined inArticle 2, paragraph (1), item (xxiii)· applies throughout the law
audit and supervisory committee membermachine translation
「監査等委員」
A member of the audit and supervisory committee of a company with audit and supervisory committee.
Defined inArticle 38, paragraph (2)
representative director
「代表取締役」
A director who represents a stock company, acting in its name toward everyone else.
Defined inArticle 47, paragraph (1)
indemnity agreement
「補償契約」
An agreement by which a stock company promises to cover all or part of an officer's costs of dealing with suspected breaches of law or claims against them, or losses from compensating third parties, whose terms must be decided by the shareholders meeting or board of directors.
Defined inArticle 399-13, paragraph (5), item (xii)· applies only in this provision and in Article 416, paragraph (4), item (xiv)
officers, etc. indemnification insurance policy
「役員等賠償責任保険契約」
An insurance contract a stock company (株式会社) concludes with an insurer, insuring its directors, accounting advisors, company auditors, executive officers and financial auditor (役員等), under which the insurer covers the loss they may suffer from being liable for how they carried out their duties or from a claim seeking that liability, other than contracts a Ministry of Justice Order (法務省令) excludes as unlikely to seriously harm the proper performance of those duties.
Defined inArticle 399-13, paragraph (5), item (xiii)· applies only in this provision and in Article 416, paragraph (4), item (xv)
articles of incorporation
定款
A company's own basic rules, written by its founders when it is formed: at least its purpose, its trade name, where its head office is, the value of the property contributed at incorporation and who the founders are (Companies Act, Article 27). A stock company's must be certified by a notary before it takes effect (Article 30, paragraph (1)), and can later be changed by a resolution of the shareholders meeting (Article 466). Many rules in the Act apply "unless the articles of incorporation provide otherwise", so a company's articles decide a great deal of how the Act applies to it.
Written by AI using Companies Act, Arts. 26, 27, 30, 466, 575 as a reference.
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.
director
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.