If a shareholder exercises appraisal rights and an agreement determining the price of the shares is reached between the shareholder and the disappearing stock company, etc. (or between the shareholder and the company incorporated in the consolidation-type merger, if a consolidation-type merger is effected and it is after the day of formation of the company incorporated in the consolidation-type merger; hereinafter the same applies in this Article), the disappearing stock company, etc. must pay that price within sixty days from the day of formation of the incorporated company.
If no agreement on the determination of the price of the shares is reached within thirty days from the day of formation of the incorporated company, shareholders or the disappearing stock company, etc. may file a petition for the court to determine the price within thirty days after the expiration of that period.
Notwithstanding the provisions of paragraph (7) of the preceding Article, in the cases prescribed in the preceding paragraph, if the petition under that paragraph is not filed within sixty days from the day of formation of the incorporated company, shareholders exercising appraisal rights may withdraw their demands for appraisal at any time after the expiration of the period.
The disappearing stock company, etc. must also pay interest on the price determined by the court at the statutory rate from and including the day of the expiration of the period referred to in paragraph (1).
A disappearing stock company, etc. may pay the amount that the disappearing stock company, etc. considers to be a fair price to shareholders until determination of the price of shares.
消滅株式会社等は、株式の価格の決定があるまでは、株主に対し、当該消滅株式会社等が公正な価格と認める額を支払うことができる。
A share purchase connected with the exercise of appraisal rights becomes effective on the day of formation of the incorporated company.
If a shareholder exercises appraisal rights with respect to shares for which share certificates are issued, the share certificate-issuing company must pay the price of the shares relating to the exercise of the appraisal rights in exchange for the share certificates.
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(Dissenting Shareholders' Appraisal Rights)
Shareholders exercising appraisal rights may withdraw their demands for appraisal only with the approval of the disappearing stock company, etc.
株式買取請求をした株主は、消滅株式会社等の承諾を得た場合に限り、その株式買取請求を撤回することができる。
Open this provision(Determination of the Price of Shares)
If a shareholder exercises appraisal rights and an agreement determining the price of the shares is reached between the shareholder and the disappearing stock company…
株式買取請求があった場合において、株式の価格の決定について、株主と消滅株式会社等（新設合併をする場合における新設合併設立会社の成立の日後にあっては、新設合併設立会社。以下この条において同じ。）との間に協議が調ったときは、消滅株式会社等は、設立会社の成立の日から六十日以内にその支払をしなければならない。
Open this provision(Determination of the Price of Shares)
If a shareholder exercises appraisal rights and an agreement determining the price of the shares is reached between the shareholder and the disappearing stock company…
株式買取請求があった場合において、株式の価格の決定について、株主と消滅株式会社等（新設合併をする場合における新設合併設立会社の成立の日後にあっては、新設合併設立会社。以下この条において同じ。）との間に協議が調ったときは、消滅株式会社等は、設立会社の成立の日から六十日以内にその支払をしなければならない。
Open this provision(Determination of the Price of Shares)
If no agreement on the determination of the price of the shares is reached within thirty days from the day of formation of the incorporated company, shareholders or the disappearing stock company…
株式の価格の決定について、設立会社の成立の日から三十日以内に協議が調わないときは、株主又は消滅株式会社等は、その期間の満了の日後三十日以内に、裁判所に対し、価格の決定の申立てをすることができる。
Open this provisionconsolidation-type merger
「新設合併」
A merger of two or more companies in which all of them cease to exist and a new company formed by the merger takes over all their rights and obligations.
Defined inArticle 2, paragraph (1), item (xxviii)· applies throughout the law
share certificate-issuing company
「株券発行会社」
A stock company whose articles of incorporation provide that it issues share certificates for its shares (for a company with class shares, for shares of every class).
Defined inArticle 117, paragraph (7)
company incorporated in the consolidation-type merger
「新設合併設立会社」
The new company formed in a consolidation-type merger, which takes over all the rights and obligations of the companies that merged into it.
Short name set inArticle 753, paragraph (1)· applies only in this part
disappearing stock company, etc.
「消滅株式会社等」
A stock company that is merged away in a consolidation-type merger, splits off business in an incorporation-type company split, or becomes a wholly owned subsidiary in a share transfer, and must keep the merger agreement, split plan or share transfer plan at its head office.
Short name set inArticle 803, paragraph (1)· applies only in this division
incorporated company
「設立会社」
The new company formed in a consolidation-type merger, an incorporation-type company split or a share transfer.
Short name set inArticle 803, paragraph (1)· applies only in this division
exercise of appraisal rights
「株式買取請求」
A dissenting shareholder's demand that the company buy their shares at a fair price when it carries out a major action such as a share consolidation, a business transfer, a merger, a company split or a share exchange.
Short name set inArticle 806, paragraph (5)· applies only in this division