A stock company may provide in the articles of incorporation to the effect that it issues share certificates relating to its shares (or, for a company with class shares, the shares of all classes).

①A share certificate-issuing company must, without delay after the day of a share issue, issue share certificates representing those shares.

②If a share certificate-issuing company consolidates shares, it must issue share certificates representing those consolidated shares without delay after the day provided for in Article 180, paragraph (2), item (ii).

③If a share certificate-issuing company splits shares, it must issue share certificates representing those split shares (excluding those which have been already issued) without delay after the day provided for in Article 183, paragraph (2), item (ii).

④Notwithstanding the provisions of the preceding three paragraphs, a share certificate-issuing company that is not a public company may elect to not deliver share certificates under those paragraphs until shareholders so request.

A stock company must state the following matters and the serial number on a share certificate, and the representative director of the share certificate-issuing company (or the representative executive officer for a company with nominating committee, etc.) must affix the representative director's signature, or name and seal:

①Shareholders of a share certificate-issuing company may make an offer to relevant share certificate-issuing company to the effect that they do not wish to hold share certificates representing the shares that they hold.

②The offer pursuant to the provisions of the preceding paragraph must be made by disclosing the number of shares relating to the offer (or, for a company with class shares, the classes of shares and the number of shares for each class). In these cases, if share certificates representing those shares have been issued, relevant shareholders must submit relevant share certificates to the share certificate-issuing company.

③A share certificate-issuing company that has received an offer under the provisions of paragraph (1) must enter or record in the shareholder register, without delay, a statement that it will not issue share certificates representing the shares referred to in the first sentence of the preceding paragraph.

④If a share certificate-issuing company has stated or recorded the statement pursuant to the provisions of the preceding paragraph, it may not issue share certificates representing the shares referred to in the first sentence of paragraph (2).

⑤Share certificates submitted pursuant to the provisions of the second sentence of paragraph (2) become ineffective when a statement is stated or recorded pursuant to the provisions of paragraph (3).

⑥A shareholder who has made an offer pursuant to the provisions of paragraph (1) may at any time demand that the share certificate-issuing company issue share certificates for the shares referred to in the first sentence of paragraph (2). In these cases, if there are any share certificates that have been submitted pursuant to the provisions of the second sentence of paragraph (2), the cost for the issuing of the share certificates is borne by relevant shareholder.

①If a share certificate-issuing company intends to effect an amendment to the articles of incorporation to abolish provisions of the articles of incorporation to the effect that it issues share certificates for its shares (or, for a company with class shares, shares of all classes), it must give public notice of the following matters, and give separate notice thereof to each shareholder and each registered pledgee of shares no later than two weeks prior to the day on which relevant amendment to the articles of incorporation takes effect:

②Share certificates representing the shares of a share certificate-issuing company become invalid on the day provided for in item (ii) of the preceding paragraph.

③Notwithstanding the provisions of paragraph (1), if a share certificate-issuing company that does not issue share certificates for any of its shares intends to effect an amendment to the articles of incorporation to abolish provisions of the articles of incorporation to the effect that it issues share certificates for its shares (or, for a company with class shares, shares of all classes), it is sufficient to notify the shareholders and registered pledgees of shares of the matters set forth in item (i) and item (ii) of that paragraph no later than two weeks prior to the day provided for in item (ii) of that paragraph.

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

⑤In the cases provided for in paragraph (1), pledgees of shares (excluding registered pledgees of shares) may, no later than the day immediately preceding the day provided for in item (ii) of that paragraph, demand that the share certificate-issuing company state or record the matters set forth in each item of Article 148 in the shareholder register.

①If a share certificate-issuing company carries out an act set forth in the following items, it must, more than one month prior to the day when relevant act takes effect (in cases of performing the act set forth in item (iv)-2, the acquisition day prescribed in Article 179-2, paragraph (1), item (v); hereinafter the day is referred to as the "share certificate submission day"), give public notice to the effect that share certificates representing the shares provided for in each of these items be submitted to relevant share certificate-issuing company before the share certificate submission day, and a separate notice to that effect to each shareholder and each registered pledgee of shares thereof; provided, however, that this does not apply if the share certificate-issuing company does not issue share certificates for any of its shares:

②If a share certificate-issuing company performs the acts set forth in the following items, if a person fails to submit the share certificates to the share certificate-issuing company by the share certificate submission day the person specified in each of those items may refuse to deliver monies, etc. to the shareholders of the shares that are subject of the share certificates by relevant act (in cases of performing acts set forth in item (ii), acquisition of shares subject to cash-out related to demand for cash-out) until the share certificates are submitted:

③Share certificates representing the shares provided for in each item of paragraph (1) become invalid on the share certificate submission day.

④The cost of public notice and notice pursuant to the provisions of paragraph (1), item (iv)-2 is paid by the special controlling shareholder.

①If the acts set forth in each item of paragraph (1) of the preceding Article are carried out, and a person cannot submit share certificates, the share certificate-issuing company may, at the request of that person, give public notice to interested parties to the effect that they can state their objections, if any, during a certain period of time;provided, however, that the period cannot be less than three months.

②If a share certificate-issuing company makes public notice pursuant to the provisions of the preceding paragraph, if no interested party states an objection during the period of time under that paragraph, the person specified in each of those items of paragraph (2) of the preceding Article may deliver monies, etc. under paragraph (2) of the same Article to the person who made the request under the preceding paragraph.

③The costs of the public notice under the provisions of paragraph (1) are borne by the person who makes the request under that paragraph.

A share certificate-issuing company (including a stock company, if one year has not elapsed from the day immediately following the day on which the stock company has effected an amendment to the articles of incorporation to abolish provisions of the articles of incorporation to the effect that it issues share certificates for its shares (or, for a company with class shares, shares of all classes); hereinafter the same applies in this Subsection (excluding Article 223, Article 227 and Article 228, paragraph (2))) must prepare a register of lost share certificates and enter or record the following information (hereinafter in this Subsection referred to as "information required to be entered in the lost share certificates register") in the same:

For the purpose of the application of the provisions of Article 123 to a share certificate-issuing company, in that Article, the phrase "of the shareholder register" is deemed to be replaced with "of the shareholder register and the lost share certificates register", and the phrase "keeping the shareholder register" is deemed to be replaced with "keeping the shareholder register and the lost share certificates register".

A person that loses a share certificate may request the share certificate-issuing company, pursuant to the provisions of Ministry of Justice Order, to enter or record the information required to be entered in the lost share certificates register in the lost share certificates register with respect to that share certificate (hereinafter referred to as the "registration of a lost share certificate").

①If a share certificate-issuing company has effected the registration of lost share certificate in response to a request under the provisions of the preceding Article, if the person entered or recorded in the lost share certificates register as the person that lost the share certificates relating to relevant request (hereinafter in this Subsection referred to as "registrant of lost share certificate") is not the registered holder of the shares represented by relevant share certificates, the share certificate-issuing company must, without delay, notify relevant registered holder to the effect that the share certificate-issuing company has effected the registration of lost share certificates for relevant share certificates, and of the matters set forth in Article 221, items (i), (ii) and (iv).

②If share certificates have been submitted to the share certificate-issuing company in order to exercise rights with respect to the shares, if the registration of lost share certificate has been effected for relevant share certificates, the share certificate-issuing company must, without delay, notify the person who submitted relevant share certificates to the effect that the registration of lost share certificate has been effected for relevant share certificates.

①A person who holds share certificates subject to the registration of lost share certificate (excluding the registrant of lost share certificate for relevant share certificates) may file an application with the share certificate-issuing company for the cancellation of relevant registration of lost share certificate, as prescribed by Ministry of Justice Order;provided, however, that this does not apply if one year has elapsed from the day immediately following the day of registration of the loss of share certificate.

②A person who intends to make an application under the provisions of the preceding paragraph must submit the share certificates referred to in that paragraph to the share certificate-issuing company.

③A share certificate-issuing company that has received an application under the provisions of paragraph (1) must, without delay, notify the registrant of lost share certificate referred to in that paragraph of the name and address of the person who made the application under the provisions of that paragraph, and of the serial numbers of the share certificates referred to in that paragraph.

④On the day on which two weeks have elapsed from the day of the notice under the provisions of the preceding paragraph, the share certificate-issuing company must cancel the registration of lost share certificate relating to share certificates submitted pursuant to the provisions of paragraph (2). In these cases, the share certificate-issuing company must return relevant share certificates to the person who filed the application under the provisions of paragraph (1).

①A registrant of lost share certificate may file an application with the share certificate-issuing company, as prescribed by Ministry of Justice Order, to cancel the registration of lost share certificate (excluding the registration of lost share certificate for share certificates submitted under the provisions of paragraph (2) of the preceding Article if an amendment is effected to the articles of incorporation to abolish provisions of the articles of incorporation to the effect that the share certificate-issuing company issues share certificates for its shares (or, for a company with class shares, shares of all classes)).

②A share certificate-issuing company that has received an application under the provisions of the preceding paragraph must cancel the registration of lost share certificate relating to relevant application on the day of the receipt of relevant application.

If a share certificate-issuing company amends the articles of incorporation to abolish provisions of the articles of incorporation to the effect that the share certificate-issuing company issues share certificates for its shares (or, for a company with class shares, shares of all classes), the share certificate-issuing company must cancel the registration of lost share certificate (excluding registrations for share certificates submitted under the provisions of Article 225, paragraph (2) only if the registrant of lost share certificate is the registered holder of the shares relating to the share certificates subject to relevant registration of lost share certificate) on the day of the effectuation of relevant amendment to the articles of incorporation.

①Share certificates subject to the registration of lost share certificate (excluding registrations that have been cancelled) become invalid on the day on which one year has elapsed from the day immediately following the day of registration of lost share certificate.

②If share certificates become invalid under the provisions of the preceding paragraph, the share certificate-issuing company must reissue share certificates to the registrant of lost share certificate for relevant share certificates.

①If a registrant of lost share certificate submits a request under Article 220, paragraph (1), the share certificate-issuing company may give public notice pursuant to the provisions of that paragraph only if the last day of the period under that paragraph arrives before the day on which one year has elapsed from the day immediately following the day of registration of lost share certificate.

②If a share certificate-issuing company gives public notice under the provisions of Article 220, paragraph (1), relevant share certificate-issuing company must cancel the registration of lost share certificate for the share certificates relating to relevant public notice on the day of relevant public notice.

①A share certificate-issuing company may not state or record the names and addresses of the persons who acquired shares represented by share certificates subject to the registration of lost share certificate until the earliest of the following days (hereinafter in this Article referred to as the "day of cancellation of registration"):

②A share certificate-issuing company may reissue share certificates subject to the registration of lost share certificate only after the day of cancellation of registration.

③If a registrant of lost share certificate is not the registered holder of the shares represented by the share certificates subject to the registration of lost share certificate, the shareholders of relevant shares may not exercise voting right at a shareholders meeting or general meeting of class shareholders until the day of cancellation of registration.

④An auction pursuant to the provisions of Article 197, paragraph (1) or a sale pursuant to the provisions of paragraph (2) of that Article may not be effected with respect to shares represented by share certificates subject to the registration of lost share certificate.

①A share certificate-issuing company must keep the lost share certificates register at its head office (or, if it has a shareholder register administrator, at its business office).

②Any person may submit the following requests at any time during the business hours of a share certificate-issuing company with respect to the lost share certificates register (limited to the portion in which the person has an interest). In these cases, the reasons for the request must be disclosed:

①It is sufficient for a notice or demand to a registrant of lost share certificate to be sent by a share certificate-issuing company to the address of relevant registrant of lost share certificate stated or recorded in the lost share certificates register (or, if relevant registrant of lost share certificate notifies the share certificate-issuing company of a different place or contact address for the receipt of notices or demands, to the place or contact address).

②The notices or demands referred to in the preceding paragraph are deemed to have arrived at the time when the notice or demand should normally have arrived.

The provisions of Part IV of the Non-Contentious Cases Procedures Act do not apply to share certificates.