A person who had been a shareholder of a stock company continuously for six months or more (or, if a shorter period is prescribed in the articles of incorporation, the period or more) before the day when the acts set forth in the following items became effective until that day (excluding a holder of shares of less than one unit who was unable to exercise rights pursuant to the provisions of the articles of incorporation set forth in Article 189, paragraph (2); hereinafter referred to as "former shareholder" in this Article) may demand the stock company (in the case prescribed in item (ii), a stock company surviving after the absorption-type merger set forth in the same item; hereinafter referred to as "wholly owned subsidiary company resulting from the share exchange, etc." in this Section), in writing or by any other method prescribed by Ministry of Justice Order, to file an action to enforce liability (limited to those related to liabilities or obligations for which the facts causing them occurred by the time when the acts set forth in the following items became effective; hereinafter the same applies in this Article) in the cases specified in those items even if the person is no longer a shareholder of the stock company; provided, however, that this does not apply if the purpose of the action to enforce liability is to seek unlawful benefits of the former shareholder or a third party or to inflict damages on the wholly owned subsidiary company resulting from the share exchange, etc. or wholly owning parent company set forth in the following items (meaning a stock company having all of the issued shares of a specific stock company or other stock companies specified by Ministry of Justice Order as equivalent thereto; hereinafter the same applies in this Section):
次の各号に掲げる行為の効力が生じた日の六箇月（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）前から当該日まで引き続き株式会社の株主であった者（第百八十九条第二項の定款の定めによりその権利を行使することができない単元未満株主であった者を除く。以下この条において「旧株主」という。）は、当該株式会社の株主でなくなった場合であっても、当該各号に定めるときは、当該株式会社（第二号に定める場合にあっては、同号の吸収合併後存続する株式会社。以下この節において「株式交換等完全子会社」という。）に対し、書面その他の法務省令で定める方法により、責任追及等の訴え（次の各号に掲げる行為の効力が生じた時までにその原因となった事実が生じた責任又は義務に係るものに限る。以下この条において同じ。）の提起を請求することができる。ただし、責任追及等の訴えが当該旧株主若しくは第三者の不正な利益を図り又は当該株式交換等完全子会社若しくは次の各号の完全親会社（特定の株式会社の発行済株式の全部を有する株式会社その他これと同等のものとして法務省令で定める株式会社をいう。以下この節において同じ。）に損害を加えることを目的とする場合は、この限りでない。
share exchange or share transfer of the stock company:when acquiring shares in the wholly owning parent company of the stock company through that share exchange or share transfer and continuing to hold those shares; and
absorption-type merger in which the stock company is the company that disappears:when acquiring shares in the wholly owning parent company of the stock company surviving after the absorption-type merger by the absorption-type merger and continuing to hold those shares.
For the purpose of the application of the provisions of the preceding paragraph to a stock company that is not a public company, "continuously from six months or more (or, if a shorter period is prescribed in the articles of incorporation, that period or more) before the day when the acts set forth in the following items until that day" in the same paragraph is read as "on the day when the acts set forth in the following items became effective".
A former shareholder may demand the wholly owned subsidiary company resulting from a share exchange, etc. to file an action to enforce liability in writing or by any other method prescribed by Ministry of Justice Order in the following cases even if the former shareholder is no longer a shareholder of the wholly owning parent company referred to in the items of paragraph (1); provided, however, that this does not apply if the purpose of the action to enforce liability is to seek unlawful benefits of the former shareholder or a third party or to inflict damages on the wholly owned subsidiary company resulting from the share exchange, etc. or a stock company issuing shares as referred to in the following items:
旧株主は、第一項各号の完全親会社の株主でなくなった場合であっても、次に掲げるときは、株式交換等完全子会社に対し、書面その他の法務省令で定める方法により、責任追及等の訴えの提起を請求することができる。ただし、責任追及等の訴えが当該旧株主若しくは第三者の不正な利益を図り又は当該株式交換等完全子会社若しくは次の各号の株式を発行している株式会社に損害を加えることを目的とする場合は、この限りでない。
when, through a share exchange or share transfer by that wholly owning parent company, that person acquires shares in the wholly owning parent company and continues to hold those shares; and
when, through a merger in which the wholly owning parent company is the company that disappears, that person acquires shares in the stock company incorporated as a result of the merger or acquires shares in the stock company surviving after the merger or in its wholly owning parent company, and continues to hold those shares.
The provisions of the preceding paragraph apply mutatis mutandis to when a former shareholder is no longer a shareholder of shares referred to in item (i) of the same paragraph in the cases set forth in the same item (including cases where it is applied mutatis mutandis pursuant to this paragraph or the following paragraph; hereinafter the same applies in this paragraph).
The provisions of paragraph (3) apply mutatis mutandis to when a former shareholder is no longer a shareholder of shares as referred to in item (ii) of the same paragraph in cases set forth in the same item (including cases where it is applied mutatis mutandis pursuant to the preceding paragraph or this paragraph; hereinafter the same applies in this paragraph). In this case, "the wholly owning parent company" in paragraph (3) (including cases where it is applied mutatis mutandis pursuant to the preceding paragraph or this paragraph) is deemed to be replaced with "a stock company incorporated as a result of a merger or a stock company surviving after the merger or its wholly owning parent company".
When a wholly owned subsidiary company resulting from a share exchange, etc. does not file an action to enforce liability within sixty days from the day of demand (hereinafter referred to as "demand for filing an action" in this Article) pursuant to the provisions of paragraph (1) or paragraph (3) (including cases as applied mutatis mutandis pursuant to the preceding two paragraphs; hereinafter the same applies in this Article), a former shareholder who makes the demand for filing an action may file an action to enforce liability for the wholly owned subsidiary company resulting from the share exchange, etc.
If a wholly owned subsidiary company resulting from a share exchange, etc. does not file an action to enforce liability within sixty days from the day of the demand for filing an action, when it receives a demand from a former shareholder who makes the demand for filing an action or an incorporator, etc. who becomes a defendant of an action to enforce liability related to the demand for filing an action, it must notify the person who made the demand of the reason not to file an action to enforce liability in writing or other method prescribed by Ministry of Justice Order without delay.
株式交換等完全子会社は、提訴請求の日から六十日以内に責任追及等の訴えを提起しない場合において、当該提訴請求をした旧株主又は当該提訴請求に係る責任追及等の訴えの被告となることとなる発起人等から請求を受けたときは、当該請求をした者に対し、遅滞なく、責任追及等の訴えを提起しない理由を書面その他の法務省令で定める方法により通知しなければならない。
Notwithstanding the provisions of paragraphs (1), (3), and (6), if a wholly owned subsidiary company resulting from a share exchange, etc. is likely to suffer irreparable harm through the elapsing of the period set forth in those paragraphs, a former shareholder who can make a demand for filing an action may immediately file an action to enforce liability for a wholly owned subsidiary company resulting from the share exchange, etc.
For the purpose of the application of the provisions of Article 55, Article 102-2, paragraph (2), Article 103, paragraph (3), Article 120, paragraph (5), Article 213-2, paragraph (2), Article 286-2, paragraph (2), Article 424 (including cases as applied mutatis mutandis pursuant to Article 486, paragraph (4)), proviso to Article 462, paragraph (3), Article 464, paragraph (2), and Article 465, paragraph (2) to when exempting a liability or obligations whose causative fact occurred by the time when the acts set forth in the following items of paragraph (1) became effective if there are qualified former shareholders (meaning former shareholders who become able to make a demand for filing an action pursuant to the provisions of main clause of paragraph (1) or main clause of paragraph (3); hereinafter the same applies in this Section) related to a wholly owned subsidiary company resulting from a share exchange, etc., "all shareholders" in these provisions is read as "all shareholders and all qualified former shareholders prescribed in Article 847-2, paragraph (9)".
株式交換等完全子会社に係る適格旧株主（第一項本文又は第三項本文の規定によれば提訴請求をすることができることとなる旧株主をいう。以下この節において同じ。）がある場合において、第一項各号に掲げる行為の効力が生じた時までにその原因となった事実が生じた責任又は義務を免除するときにおける第五十五条、第百二条の二第二項、第百三条第三項、第百二十条第五項、第二百十三条の二第二項、第二百八十六条の二第二項、第四百二十四条（第四百八十六条第四項において準用する場合を含む。）、第四百六十二条第三項ただし書、第四百六十四条第二項及び第四百六十五条第二項の規定の適用については、これらの規定中「総株主」とあるのは、「総株主及び第八百四十七条の二第九項に規定する適格旧株主の全員」とする。
Read this with the articles around it
(Responsibilities of Subscribers for the Shares Solicited at Incorporation for Which Payment Is Falsified)
The obligation assumed by a subscriber for the shares solicited at incorporation pursuant to the provisions of the preceding paragraph may not be exempted without the consent of all shareholders.
前項の規定により設立時募集株式の引受人の負う義務は、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(Liabilities of Incorporators)
The obligations assumed by an incorporator or director at incorporation pursuant to the provisions of the preceding paragraph may not be exempted without the consent of all shareholders.
前項の規定により発起人又は設立時取締役の負う義務は、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(Giving Benefits on Exercise of Rights of Shareholders)
Exemptions from the obligations referred to in the preceding paragraph may not be given without the consent of all shareholders.
前項の義務は、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(Restriction on Rights in Relation to Shareholdings Less than One Unit)
A stock company may provide in the articles of incorporation to the effect that holders of shares less than one unit may not exercise some or all rights, other than the following rights…
株式会社は、単元未満株主が当該単元未満株式について次に掲げる権利以外の権利の全部又は一部を行使することができない旨を定款で定めることができる。
Open this provision(Liabilities of Subscribers of Shares for Subscription for Which the Performance of Contribution Is Falsified)
The liabilities of the subscriber of shares for subscription pursuant to the provisions of the preceding paragraph may not be exempted without the consent of all shareholders.
前項の規定により募集株式の引受人の負う義務は、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(Liabilities of Share Option Holders That Have Falsified Payment of Share Option)
The liabilities of share option holders prescribed in the preceding paragraph pursuant to the provisions of the same paragraph may not be exempted without the consent of all shareholders.
前項の規定により同項に規定する新株予約権者の負う義務は、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(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(Liability Related to Dividends of Surplus)
An exemption from the obligations assumed by executives and the persons specified in each of those items of paragraph (1) pursuant to the provisions of that paragraph may not be given; provided…
第一項の規定により業務執行者及び同項各号に定める者の負う義務は、免除することができない。ただし、前条第一項各号に掲げる行為の時における分配可能額を限度として当該義務を免除することについて総株主の同意がある場合は、この限りでない。
Open this provision(Liability Where Shares Are Acquired in Response to Exercise of Appraisal Rights)
Exemption from the obligations under the preceding paragraph may not be given without the consent of all shareholders.
前項の義務は、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(Liability in Cases of Deficit)
Exemption from the obligations under the preceding paragraph may not be given without the consent of all shareholders.
前項の義務は、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(Liquidators' Liability to Liquidating Stock Companies for Damages)
The provisions of Article 424 and Article 428, paragraph (1) apply mutatis mutandis to liquidators' liability under paragraph (1).
第四百二十四条及び第四百二十八条第一項の規定は、清算人の第一項の責任について準用する。この場合において、同条第一項中「第三百五十六条第一項第二号（第四百十九条第二項において準用する場合を含む。）」とあるのは、「第四百八十二条第四項において準用する第三百五十六条第一項第二号」と読み替えるものとする。
Open this provision(Exemption from Liability)
An exemption from the obligations assumed by an incorporator or director at incorporation pursuant to the provisions of Article 52, paragraph (1), obligations assumed by an incorporator pursuant to…
第五十二条第一項の規定により発起人又は設立時取締役の負う義務、第五十二条の二第一項の規定により発起人の負う義務、同条第二項の規定により発起人又は設立時取締役の負う義務及び第五十三条第一項の規定により発起人、設立時取締役又は設立時監査役の負う責任は、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(Action to Enforce Liability by Former Shareholders)
A person who had been a shareholder of a stock company continuously for six months or more (or, if a shorter period is prescribed in the articles of incorporation, the period or more) before the day…
次の各号に掲げる行為の効力が生じた日の六箇月（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）前から当該日まで引き続き株式会社の株主であった者（第百八十九条第二項の定款の定めによりその権利を行使することができない単元未満株主であった者を除く。以下この条において「旧株主」という。）は…
Open this provision(Action to Enforce Liability by Former Shareholders)
A person who had been a shareholder of a stock company continuously for six months or more (or, if a shorter period is prescribed in the articles of incorporation, the period or more) before the day…
次の各号に掲げる行為の効力が生じた日の六箇月（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）前から当該日まで引き続き株式会社の株主であった者（第百八十九条第二項の定款の定めによりその権利を行使することができない単元未満株主であった者を除く。以下この条において「旧株主」という。）は…
Open this provision(Action to Enforce Liability by Former Shareholders)
absorption-type merger in which the stock company is the company that disappears:when acquiring shares in the wholly owning parent company of the stock company surviving after the absorption-type…
当該株式会社が吸収合併により消滅する会社となる吸収合併 当該吸収合併により、吸収合併後存続する株式会社の完全親会社の株式を取得し、引き続き当該株式を有するとき。
Open this provision(Action to Enforce Liability by Former Shareholders)
A former shareholder may demand the wholly owned subsidiary company resulting from a share exchange, etc. to file an action to enforce liability in writing or by any other method prescribed by…
旧株主は、第一項各号の完全親会社の株主でなくなった場合であっても、次に掲げるときは、株式交換等完全子会社に対し、書面その他の法務省令で定める方法により、責任追及等の訴えの提起を請求することができる。
Open this provision(Action to Enforce Liability by Former Shareholders)
when, through a share exchange or share transfer by that wholly owning parent company, that person acquires shares in the wholly owning parent company and continues to hold those shares; and
当該完全親会社の株式交換又は株式移転により当該完全親会社の完全親会社の株式を取得し、引き続き当該株式を有するとき。
Open this provision(Action to Enforce Liability by Former Shareholders)
when, through a merger in which the wholly owning parent company is the company that disappears, that person acquires shares in the stock company incorporated as a result of the merger or acquires…
当該完全親会社が合併により消滅する会社となる合併により、合併により設立する株式会社又は合併後存続する株式会社若しくはその完全親会社の株式を取得し、引き続き当該株式を有するとき。
Open this provision(Action to Enforce Liability by Former Shareholders)
The provisions of the preceding paragraph apply mutatis mutandis to when a former shareholder is no longer a shareholder of shares referred to in item (i) of the same paragraph in the cases set forth…
前項の規定は、同項第一号（この項又は次項において準用する場合を含む。以下この項において同じ。）に掲げる場合において、旧株主が同号の株式の株主でなくなったときについて準用する。
Open this provision(Action to Enforce Liability by Former Shareholders)
The provisions of paragraph (3) apply mutatis mutandis to when a former shareholder is no longer a shareholder of shares as referred to in item (ii) of the same paragraph in cases set forth in the…
第三項の規定は、同項第二号（前項又はこの項において準用する場合を含む。以下この項において同じ。）に掲げる場合において、旧株主が同号の株式の株主でなくなったときについて準用する。
Open this provision(Action to Enforce Liability by Former Shareholders)
When a wholly owned subsidiary company resulting from a share exchange, etc. does not file an action to enforce liability within sixty days from the day of demand…
株式交換等完全子会社が第一項又は第三項（前二項において準用する場合を含む。以下この条において同じ。）の規定による請求（以下この条において「提訴請求」という。）の日から六十日以内に責任追及等の訴えを提起しないときは、当該提訴請求をした旧株主は、株式交換等完全子会社のために、責任追及等の訴えを提起することができる。
Open this provision(Action to Enforce Liability by Former Shareholders)
For the purpose of the application of the provisions of Article 55, Article 102-2, paragraph (2), Article 103, paragraph (3), Article 120, paragraph (5), Article 213-2, paragraph (2), Article 286-2…
株式交換等完全子会社に係る適格旧株主（第一項本文又は第三項本文の規定によれば提訴請求をすることができることとなる旧株主をいう。以下この節において同じ。）がある場合において、第一項各号に掲げる行為の効力が生じた時までにその原因となった事実が生じた責任又は義務を免除するときにおける第五十五条、第百二条の二第二項…
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
public company
「公開会社」
A stock company whose articles of incorporation do not require the company's approval for transfers of at least some of its shares; it need not be listed on a stock exchange.
Defined inArticle 2, paragraph (1), item (v)· applies throughout the law
absorption-type merger
「吸収合併」
A merger in which one existing company survives and takes over all the rights and obligations of the other company, which ceases to exist.
Defined inArticle 2, paragraph (1), item (xxvii)· applies throughout the law
share exchange
「株式交換」
A stock company's having all of its issued shares acquired by another existing stock company or limited liability company, which becomes its sole owner.
Defined inArticle 2, paragraph (1), item (xxxi)· applies throughout the law
issued shares
「発行済株式」
The shares a stock company has issued.
Defined inArticle 2, paragraph (1), item (xxxi)
share transfer
「株式移転」
One or more stock companies having all of their issued shares acquired by a newly formed stock company, which becomes their sole owner.
Defined inArticle 2, paragraph (1), item (xxxii)· applies throughout the law
holder of shares less than one unit
「単元未満株主」
A shareholder who holds shares less than one unit, which carry no vote at shareholders meetings.
Short name set inArticle 189, paragraph (1)
incorporator, etc.
「発起人等」
The incorporators, directors and company auditors at incorporation, officers, etc. and liquidators of a stock company, whose liability a shareholder may demand that the company enforce by lawsuit.
Short name set inArticle 847, paragraph (1)· applies only in this section
action to enforce liability
「責任追及等の訴え」
A lawsuit to enforce the liability of a stock company's incorporators, officers, etc. or liquidators, or to recover certain payments owed to the company, which a shareholder may demand the company bring and may bring on its behalf if it does not.
Short name set inArticle 847, paragraph (1)· applies only in this section
wholly owning parent companymachine translation
「完全親会社」
A stock company that holds all the issued shares of a particular stock company, or one that Ministry of Justice Order (法務省令) treats as equivalent.
Defined inArticle 847-2, paragraph (1)· applies only in this section
former shareholdermachine translation
「旧株主」
A person who held shares in a stock company for six months up to the day it became wholly owned by another company through a share exchange, share transfer or merger, and who may still demand that the company sue its officers for liability arising before then.
Short name set inArticle 847-2, paragraph (1)· applies only in this article
wholly owned subsidiary company resulting from the share exchange, etc.machine translation
「株式交換等完全子会社」
A stock company that certain former shareholders (旧株主) may still ask, under Article 847-2, to file an action to enforce the liability of its officers and others for causes that arose before the change: the company itself, where its share exchange or share transfer gave those shareholders shares of its wholly owning parent company that they still hold, or the stock company that survived an absorption-type merger in which their company disappeared, where they received and still hold shares of the survivor's wholly owning parent company.
Short name set inArticle 847-2, paragraph (1)· applies only in this section
demand for filing an action
「提訴請求」
A former shareholder's demand, under Article 847-2, that a company now wholly owned by another company sue its officers to enforce their liability; if the company does not sue within 60 days, the former shareholder may sue on its behalf.
Short name set inArticle 847-2, paragraph (6)· applies only in this article
qualified former shareholdermachine translation
「適格旧株主」
A former shareholder (旧株主) who is entitled, under the main clause of Article 847-2, paragraph (1) or (3), to demand that a wholly owned subsidiary company resulting from the share exchange, etc. (株式交換等完全子会社) file an action to enforce the liability of its officers and others.
Defined inArticle 847-2, paragraph (9)· applies only in this section
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.