①Shareholders of shares with put options may demand that the stock company acquire the shares with put options held by these shareholders; provided, however, that this does not apply if, if the properties provided for in Article 107, paragraph (2), item (ii), (b) through (e) are delivered in exchange for the acquisition of relevant shares with put options, the book value of these properties exceeds the distributable amount under Article 461, paragraph (2) on the day when relevant demand is made.

②The demand pursuant to the provisions of the preceding paragraph must be submitted by disclosing the number of shares with put options relating to relevant demand (or, for a company with class shares, the classes of the shares with put options and the number of shares for each class).

③If shareholders of a share certificate-issuing company intend to submit demand pursuant to the provisions of paragraph (1) with respect to the shares with put options held by the same, they must submit the share certificates representing the shares with put options to the share certificate-issuing company; provided, however, that this does not apply if no share certificate representing relevant shares with put options is issued.

①A stock company acquires the shares with put options relating to a demand pursuant to the provisions of paragraph (1) of the preceding Article on the day of relevant demand.

②In the cases set forth in the following items, a shareholder who submits a demand pursuant to the provisions of paragraph (1) of the preceding Article becomes a person specified in each of those items in accordance with the provisions with respect to the matters provided for in Article 107, paragraph (2), item (ii) (or, for a company with class shares, Article 108, paragraph (2), item (v)) on the day of the demand:

③In the cases provided for in item (iv) of the preceding paragraph, if the number of the relevant other shares provided for in that item includes a fractional share, it is to be rounded off. In these cases, unless otherwise provided in the articles of incorporation, the stock company must, in accordance with the categories of the cases set forth in the following items, deliver to the shareholders who submitted demands pursuant to the provisions of paragraph (1) of the preceding Article the monies in the amount equivalent to the amount obtained by multiplying the amount provided for in each of these items by the fractional share:

④The provisions of the preceding paragraph apply mutatis mutandis to cases where there is a fractional share with respect to the bonds and share options of the stock company. In these cases, the term "amount of net assets per share" in item (ii) of that paragraph is deemed to be replaced with "the amount prescribed by Ministry of Justice Order".

①If there are provisions with respect to the matters set forth in Article 107, paragraph (2), item (iii), (b), the stock company must prescribe the day under (b) of that item by a resolution at a shareholders meeting (or at a board of directors meeting for a company with board of directors); provided, however, that this does not apply if it is otherwise provided for in the articles of incorporation.

②If a stock company prescribes the day under Article 107, paragraph (2), item (iii), (b), the stock company must notify the shareholders of the shares subject to call (or, if there are provisions with respect to the matters set forth in (c) of that item, the shareholders of shares subject to call who are determined under the provisions of paragraph (1) of the following Article) and the registered pledgees of shares thereof of relevant day no later than two weeks prior to relevant day.

③A public notice may be substituted for the notice under the provisions of the preceding paragraph.

①If there are provisions with respect to the matters set forth in Article 107, paragraph (2), item (iii), (c), if a stock company intends to acquire shares subject to call, it must determine the shares subject to call that it intends to acquire.

②The shares subject to call under the preceding paragraph must be determined by a resolution at a shareholders meeting (or at a board of directors meeting for a company with board of directors); provided, however, that this does not apply if it is otherwise provided for in the articles of incorporation.

③If a stock company makes the determination pursuant to the provisions of paragraph (1), the stock company must immediately notify the shareholders of the shares subject to call who are identified pursuant to the provisions of that paragraph and the registered pledgees of shares thereof to the effect that the stock company will acquire the shares subject to call.

④A public notice may be substituted for the notice pursuant to the provisions of the preceding paragraph.

①A stock company acquires, on the day when the grounds under Article 107, paragraph (2), item (iii), (a) have arisen (or, if there are provisions with respect to the matters set forth in (c) of that item, on the day set forth in item (i) or the day set forth in item (ii) below, whichever comes later; the same applies in the following paragraph and paragraph (5)), the shares subject to call (or, if there are provisions with respect to the matters set forth in paragraph (2), item (iii), (c) of that Article, those determined pursuant to the provisions of paragraph (1) of the preceding Article; the same applies in the following paragraph):

②In the cases set forth in the following items, the shareholders of the shares subject to call (excluding the relevant stock company) become the persons specified in each of those items in accordance with the provisions with respect to the matters provided for in Article 107, paragraph (2), item (iii), (a) (or, for a company with class shares, Article 108, paragraph (2), item (vi)) on the day when the grounds under Article 107, paragraph (2), item (iii), (a) arise:

③A stock company must notify the shareholders of shares subject to call and registered pledgees of shares thereof without delay after grounds have arisen referred to in Article 107, paragraph (2), item (iii), (a) (if there are provisions regarding the matters set forth in (c) of that item, the holders of shares subject to call determined pursuant to the provisions of paragraph (1) of the preceding Article, and the registered pledgees of shares) to the effect that relevant grounds have arisen; provided, however, that this does not apply if the stock company has given notice referred to in the provisions of Article 168, paragraph (2) or has given public notice referred to in the provisions of paragraph (3) of that Article.

④A public notice may be substituted for the notice referred to in the provisions of the preceding paragraph.

⑤The provisions of the preceding paragraphs do not apply if, if the properties provided for in Article 107, paragraph (2), item (iii), (d) through (g) is delivered in exchange for the acquisition of the shares subject to call, the book value of relevant properties exceeds the distributable amount under Article 461, paragraph (2) on the day when the grounds under Article 107, paragraph (2), item (iii), (a) arose.

①A company with class shares which has issued shares subject to class-wide call (meaning the class shares that have provisions with respect to the matters set forth in Article 108, paragraph (1), item (vii) hereof; hereinafter the same applies in this Subsection) may acquire all of the shares subject to class-wide call by a resolution at a shareholders meeting. In these cases, the following matters must be prescribed by a resolution at relevant shareholders meeting:

②The provisions regarding the matters set forth in item (ii) of the preceding paragraph must stipulate that the consideration for acquisition will be allotted in proportion to the number of the shares subject to class-wide call held by the shareholders (excluding the relevant stock company).

③The directors, at the shareholders meeting under paragraph (1) above, must explain the reasons for the need to acquire all of the shares subject to class-wide call.