Notwithstanding the provisions of the preceding paragraph, if the relevant officers, etc. have acted in good faith and without gross negligence in performing their duties, exemption from liability under Article 423, paragraph (1) may be given by a resolution at a shareholders meeting (if a stock company has an ultimate, wholly owning parent company, etc. (meaning an ultimate, wholly owning parent company, etc. as prescribed in Article 847-3, paragraph (1); hereinafter the same applies in this Section), and the liability is specific liability (meaning specific liabilities as prescribed in Article 847-3, paragraph (4); hereinafter the same applies in this Section), the shareholders meeting of the stock company and the ultimate, wholly owning parent company, etc.; hereinafter the same applies in this Article), to the extent of the amount obtained by subtracting the sum of the following amounts (in Article 427, paragraph (1) referred to as "minimum liability amount") from the amount for which they are liable:
前条の規定にかかわらず、第四百二十三条第一項の責任は、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ときは、賠償の責任を負う額から次に掲げる額の合計額（第四百二十七条第一項において「最低責任限度額」という。）を控除して得た額を限度として、株主総会（株式会社に最終完全親会社等（第八百四十七条の三第一項に規定する最終完全親会社等をいう。以下この節において同じ。）がある場合において、当該責任が特定責任（第八百四十七条の三第四項に規定する特定責任をいう。以下この節において同じ。）であるときにあっては、当該株式会社及び当該最終完全親会社等の株主総会。以下この条において同じ。）の決議によって免除することができる。
the amount obtained by multiplying the amount calculated by the method prescribed by Ministry of Justice Order as the amount equivalent to the annual amount of property benefits which relevant officers, etc. have received, or are to receive, from the stock company as consideration for the execution of their duties while they are in the office by the numbers provided for in (a) through (c) for the categories of officers, etc. set forth in the (a) through (c):
当該役員等がその在職中に株式会社から職務執行の対価として受け、又は受けるべき財産上の利益の一年間当たりの額に相当する額として法務省令で定める方法により算定される額に、次のイからハまでに掲げる役員等の区分に応じ、当該イからハまでに定める数を乗じて得た額
representative directors or representative executive officers:6;
代表取締役又は代表執行役 六
directors (limited to those who are executive directors, etc.) other than representative directors or executive officers other than representative executive officers:4;
directors (excluding those set forth in (a) and (b)), accounting advisors, company auditors or financial auditors:2.
取締役（イ及びロに掲げるものを除く。）、会計参与、監査役又は会計監査人 二
if relevant officers, etc. have subscribed for share options of relevant stock company (limited to cases set forth in each item of Article 238, paragraph (3)), the amount calculated by the method prescribed by Ministry of Justice Order as the amount equivalent to the amount of the property benefits regarding the share options.
当該役員等が当該株式会社の新株予約権を引き受けた場合（第二百三十八条第三項各号に掲げる場合に限る。）における当該新株予約権に関する財産上の利益に相当する額として法務省令で定める方法により算定される額
In cases under the preceding paragraph, the directors (if a stock company has an ultimate, wholly owning parent company, etc., and the liabilities to be exempted pursuant to the provisions of the same paragraph are specific liabilities, the directors of the stock company and the ultimate, wholly owning parent company, etc.) must disclose the following matters to the shareholders meeting under that paragraph:
the facts that cause the liability and the amount of the liability for damages;
責任の原因となった事実及び賠償の責任を負う額
the maximum amount for which exemption may be given pursuant to the provisions of the preceding paragraph and the grounds supporting the calculation; and
前項の規定により免除することができる額の限度及びその算定の根拠
the reasons for which exemption from the liability is to be given and the amount for which exemption is to be given.
責任を免除すべき理由及び免除額
At a company with company auditor, company with audit and supervisory committee, or company with nominating committee, etc. in order to submit proposals regarding the exemption from liability under Article 423, paragraph (1) (limited to the exemption from liability of directors (excluding those who are audit and supervisory committee members or audit committee members) and executive officers) to a shareholders meeting, directors (if such a company has an ultimate, wholly owning parent company, etc., and the liabilities to be exempted pursuant to the provisions of paragraph (1) are specific liabilities, the directors of those companies and the ultimate, wholly owning parent company, etc.) must obtain the consent of the persons specified in each of those items for the stock company categories set forth in following each items:
監査役設置会社、監査等委員会設置会社又は指名委員会等設置会社においては、取締役（これらの会社に最終完全親会社等がある場合において、第一項の規定により免除しようとする責任が特定責任であるときにあっては、当該会社及び当該最終完全親会社等の取締役）は、第四百二十三条第一項の責任の免除（取締役（監査等委員又は監査委員であるものを除く。）及び執行役の責任の免除に限る。）に関する議案を株主総会に提出するには、次の各号に掲げる株式会社の区分に応じ、当該各号に定める者の同意を得なければならない。
company with company auditor:the company auditor (each company auditors if there are two or more company auditors); and
監査役設置会社 監査役（監査役が二人以上ある場合にあっては、各監査役）
company with audit and supervisory committee:each audit and supervisory committee;
If a resolution under paragraph (1) is passed, and the stock company gives any property benefits prescribed by Ministry of Justice Order including, but not limited to, retirement allowance to the officers, etc. in that paragraph after relevant resolution, the stock company must obtain the approval of a shareholders meeting. The same applies if relevant officers, etc. exercise or transfer the share options under item (ii) of the same paragraph after the resolution.
If a resolution under paragraph (1) is passed, and the officers, etc. possess share option certificates that certify the share options under the preceding paragraph, the officers, etc. must deposit relevant share option certificates with the stock company without delay. In these cases, relevant officers, etc. may not demand the return of relevant share option certificates until after the approval under that paragraph is obtained with respect to the transfer under that paragraph.
Read this with the articles around it
(Determination of Subscription Requirements)
In the following cases, the directors must explain at the shareholders meeting referred to in the preceding paragraph the reasons for the need to solicit subscribers for share options for…
次に掲げる場合には、取締役は、前項の株主総会において、第一号の条件又は第二号の金額で募集新株予約権を引き受ける者の募集をすることを必要とする理由を説明しなければならない。
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(Exemption from Liability for Damages to Stock Companies)
An exemption from liability under paragraph (1) of the preceding Article may not be given without the consent of all shareholders.
前条第一項の責任は、総株主の同意がなければ、免除することができない。
Open this provision(Partial Exemption from Liability)
Notwithstanding the provisions of the preceding paragraph, if the relevant officers, etc. have acted in good faith and without gross negligence in performing their duties…
前条の規定にかかわらず、第四百二十三条第一項の責任は、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ときは、賠償の責任を負う額から次に掲げる額の合計額（第四百二十七条第一項において「最低責任限度額」という。）を控除して得た額を限度として…
Open this provision(Partial Exemption from Liability)
Notwithstanding the provisions of the preceding paragraph, if the relevant officers, etc. have acted in good faith and without gross negligence in performing their duties…
前条の規定にかかわらず、第四百二十三条第一項の責任は、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ときは、賠償の責任を負う額から次に掲げる額の合計額（第四百二十七条第一項において「最低責任限度額」という。）を控除して得た額を限度として…
Open this provision(Partial Exemption from Liability)
if relevant officers, etc. have subscribed for share options of relevant stock company (limited to cases set forth in each item of Article 238, paragraph (3))…
当該役員等が当該株式会社の新株予約権を引き受けた場合（第二百三十八条第三項各号に掲げる場合に限る。）における当該新株予約権に関する財産上の利益に相当する額として法務省令で定める方法により算定される額
Open this provision(Partial Exemption from Liability)
If a resolution under paragraph (1) is passed, and the stock company gives any property benefits prescribed by Ministry of Justice Order including, but not limited to…
第一項の決議があった場合において、株式会社が当該決議後に同項の役員等に対し退職慰労金その他の法務省令で定める財産上の利益を与えるときは、株主総会の承認を受けなければならない。当該役員等が同項第二号の新株予約権を当該決議後に行使し、又は譲渡するときも同様とする。
Open this provision(Agreement Limiting Liability)
Notwithstanding the provisions of Article 424, a stock company may provide in the articles of incorporation that the stock company may enter into agreements with directors…
第四百二十四条の規定にかかわらず、株式会社は、取締役（業務執行取締役等であるものを除く。）、会計参与、監査役又は会計監査人（以下この条及び第九百十一条第三項第二十五号において「非業務執行取締役等」という。）の第四百二十三条第一項の責任について、当該非業務執行取締役等が職務を行うにつき善意でかつ重大な過失がないときは…
Open this provision(Action to Enforce Specific Liability by Shareholders of Ultimate, Wholly Owning Parent Company)
A shareholder who holds votes of one-hundredths (or, if a lesser proportion is prescribed in the articles of incorporation, that proportion) or more of the votes of all shareholders…
六箇月（これを下回る期間を定款で定めた場合にあっては、その期間）前から引き続き株式会社の最終完全親会社等（当該株式会社の完全親会社等であって、その完全親会社等がないものをいう。以下この節において同じ。）の総株主（株主総会において決議をすることができる事項の全部につき議決権を行使することができない株主を除く。）の議決権…
Open this provision(Action to Enforce Specific Liability by Shareholders of Ultimate, Wholly Owning Parent Company)
"Specific liability" as prescribed in paragraph (1) means the liability of the incorporator, etc. of a stock company, if the book value of the stock company's shares at the ultimate…
第一項に規定する「特定責任」とは、当該株式会社の発起人等の責任の原因となった事実が生じた日において最終完全親会社等及びその完全子会社等（前項の規定により当該完全子会社等とみなされるものを含む。次項及び第八百四十九条第三項において同じ。）における当該株式会社の株式の帳簿価額が当該最終完全親会社等の総資産額として法務省令…
Open this provisioncompany
「会社」
Any of the four kinds of company this Act governs: a stock company (株式会社), a general partnership company (合名会社), a limited partnership company (合資会社) or a limited liability company (合同会社).
Defined inArticle 2, paragraph (1), item (i)· applies throughout the law
company with company auditor
「監査役設置会社」
A stock company that has a company auditor whose audit its articles of incorporation do not limit to accounting matters, or that this Act requires to have a company auditor.
Defined inArticle 2, paragraph (1), item (ix)· 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
company with nominating committee, etc.machine translation
「指名委員会等設置会社」
A stock company with a nominating committee, an audit committee and a remuneration committee, each made up of directors.
Defined inArticle 2, paragraph (1), item (xii)· applies throughout the law
executive directors, etc.
「業務執行取締役等」
A company's executive directors, executive officers, managers and other employees taken together: the people who run or work in its business, as against the outside directors who oversee it.
Short name set inArticle 2, paragraph (1), item (xv), (a)
share option
「新株予約権」
A right that entitles its holder, by exercising it against a stock company, to receive shares of that company.
Defined inArticle 2, paragraph (1), item (xxi)· 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)
audit committee member
「監査委員」
A member of the audit committee of a company with nominating committee, etc., who may not at the same time be an executive officer or executive director of the company or its subsidiaries.
Short name set inArticle 400, paragraph (4)
officers, etc.
「役員等」
The directors, accounting advisors, company auditors, executive officers and financial auditor of a stock company, who are liable to it for damages if they neglect their duties.
Short name set inArticle 423, paragraph (1)· applies only in this chapter
minimum liability amount
「最低責任限度額」
The floor a shareholders meeting may not go below when it releases an officer of a stock company from liability for damages under Article 423, paragraph (1): one year's worth of what the officer receives from the company for performing their duties, worked out as a Ministry of Justice Order (法務省令) directs, multiplied by six for a representative director or representative executive officer, four for another executive director or executive officer and two for any other director, accounting advisor, company auditor or financial auditor, plus the value of any share options the officer took up from the company.
Short name set inArticle 425, paragraph (1)· applies only in this provision and in Article 427, paragraph (1)
ultimate, wholly owning parent company, etc.machine translation
「最終完全親会社等」
The company at the top of a chain of full ownership over a stock company: a wholly owning parent company, etc. of that stock company that itself has no wholly owning parent company, etc. (Article 847-3, paragraph (1)).
Defined inArticle 425, paragraph (1)· applies only in this section
specific liability
「特定責任」
The liability of a stock company's incorporators, directors or company auditors at incorporation, officers, etc. or liquidators where, on the day the facts behind it arose, the book value of that company's shares held by its ultimate wholly owning parent company, etc. and that parent's wholly owned subsidiaries, etc. exceeded one fifth of the parent's total assets as calculated under a Ministry of Justice Order (法務省令), or any lower proportion set by articles of incorporation (定款).
Defined inArticle 425, paragraph (1)· applies only in this section
company auditor
監査役
An officer of a stock company, elected by the shareholders meeting (Companies Act, Article 329, paragraph (1)), whose job is to audit how the directors carry out their duties and to write an audit report on it (Article 381, paragraph (1)). Not an outside accountant — that is the financial auditor (会計監査人) — and not a director: a company auditor may not also be a director or employee of the company or its subsidiaries (Article 335, paragraph (2)). The term normally runs to the annual shareholders meeting for the last business year ending within four years of election (Article 336, paragraph (1)).
Written by AI using Companies Act, Arts. 329, 335, 336, 381 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.