If a shareholder exercises appraisal rights and an agreement determining the price of the shares is reached between the shareholder and parent company resulting from a partial share exchange, the parent company resulting from a partial share exchange must pay that price within sixty days from the effective day.
If no agreement deciding the price of shares is reached within thirty days from the effective day, the shareholders or the parent company resulting from a partial share exchange 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 provided for in the preceding paragraph, if the petition under that paragraph is not made within sixty days after the effective day, shareholders exercising appraisal rights may withdraw their demands for appraisal at any time after the expiration of that period.
The parent company resulting from a partial share exchange 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).
The parent company resulting from a partial share exchange may pay to shareholders the amount that the parent company resulting from a partial share exchange considers to be a fair price until the determination of the share price.
株式交付親会社は、株式の価格の決定があるまでは、株主に対し、当該株式交付親会社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 effective day.
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 parent company resulting from a partial share exchange.
株式買取請求をした株主は、株式交付親会社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 parent company resulting from a partial share exchange…
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、株主と株式交付親会社との間に協議が調ったときは、株式交付親会社は、効力発生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 deciding the price of shares is reached within thirty days from the effective day, the shareholders or the parent company resulting from a partial share exchange may file a petition…
株式の価格の決定について、効力発生日から三十日以内に協議が調わないときは、株主又は株式交付親会社は、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 provisionshare 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)
parent company resulting from a partial share exchangemachine translation
「株式交付親会社」
The stock company that carries out a partial share exchange, acquiring another stock company's shares in exchange for its own.
Defined inArticle 774-3, paragraph (1), item (i)
effective day
「効力発生日」
The day on which the corporate action in question takes effect, such as a share consolidation, business transfer, entity conversion, merger, company split, share exchange or partial share exchange.
Short name set inArticle 816-2, paragraph (1)· applies only in this section
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 816-6, paragraph (5)· applies only in this section