A tender offeror may not make any of the following changes to the terms of purchase, etc.:
the lowering of the purchase, etc. price (excluding what is implemented if the public notice of the commencement of the tender offer and the tender offer statement states, as one of the terms of purchase, etc., that the purchase, etc. price may be lowered according to the standards specified by Cabinet Office Order if the target company (meaning a target company provided for in Article 27-10, paragraph (1)) conducts a share split or performs any other act specified by Cabinet Order during the tender offer period);
reduction of the number of share certificates, etc. sought for purchase;
買付予定の株券等の数の減少
shortening of the purchase, etc. period; or
買付け等の期間の短縮
any other changes in the terms of purchase, etc. specified by Cabinet Order.
その他政令で定める買付条件等の変更
A tender offeror may make any change to the terms of purchase, etc. other than one that is specified in the items of the preceding paragraph. In this, a tender offeror seeking to make such a change must issue public notice of the details of the change to the terms of purchase, etc. (excluding an extension of the purchase, etc. period, if it is extended pursuant to Article 27-10, paragraph (3)) and other particulars specified by Cabinet Office Order during the tender offer period, pursuant to the provisions of Cabinet Order.
If it is difficult for a tender offeror to issue the public notice under the preceding paragraph by the last day of the tender offer period, the tender offeror must publicly announce the details and the particulars specified in the preceding paragraph pursuant to the provisions of Cabinet Office Order, and issue a public notice based on the rules provided for in the preceding paragraph immediately after that.
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(Submission of a Target Company's Position Statement and Tender Offeror's Answer)
The issuer of the share certificates, etc. involved in a tender offer (hereinafter referred to as the "target company" in this Section and Article 27-30-11, paragraph (4))…
公開買付けに係る株券等の発行者（以下この節及び第二十七条の三十の十一第四項において「対象者」という。）は、内閣府令で定めるところにより、公開買付開始公告が行われた日から政令で定める期間内に…
Open this provision(Submission of a Target Company's Position Statement and Tender Offeror's Answer)
If the request set forth in item (ii) of the preceding paragraph has been included in the target company's position statement pursuant to the preceding paragraph and the Prime Minister makes the…
前項の規定により意見表明報告書に同項第二号に掲げる請求をする旨の記載があり、かつ、第二十七条の十四第一項の規定により内閣総理大臣が当該意見表明報告書を公衆の縦覧に供したときは、公開買付者は、買付け等の期間を政令で定める期間に延長しなければならない。
Open this provision(Changes to the Terms of Purchase for a Tender Offer)
A tender offeror may not make any of the following changes to the terms of purchase, etc.:
公開買付者は、次に掲げる買付条件等の変更を行うことができない。
Open this provision(Changes to the Terms of Purchase for a Tender Offer)
A tender offeror may make any change to the terms of purchase, etc. other than one that is specified in the items of the preceding paragraph.
公開買付者は、前項各号に規定するもの以外の買付条件等の変更を行うことができる。この場合において、当該変更を行おうとする公開買付者は、公開買付期間中に、政令で定めるところにより、買付条件等の変更の内容（第二十七条の十第三項の規定により買付け等の期間が延長された場合における当該買付け等の期間の延長を除く。）その他内閣府令…
Open this provisionpurchase, etc.machine translation
「買付け等」
In Section 1 of Chapter II-2, on tender offers (公開買付け) for share certificates, etc. by persons other than their issuer, a purchase or other acquisition for value of share certificates, etc. (株券等), meaning share certificates, bond certificates with share options (新株予約権付社債券) and other securities a Cabinet Order (政令) specifies, including acts a Cabinet Order treats as similar.
Defined inArticle 27-2, paragraph (1)· applies only in this section
number of share certificates, etc. sought for purchasemachine translation
「買付予定の株券等の数」
In Section 1 of Chapter II-2, the number of share certificates, etc. (株券等) a tender offeror plans to buy in a tender offer (公開買付け): for share certificates, the number of shares; for other securities, the number a Cabinet Office Order (内閣府令) specifies.
Defined inArticle 27-3, paragraph (1)· applies only in this section
tender offer statementmachine translation
「公開買付届出書」
In Section 1 of Chapter 2-2, Article 197, paragraph (1), item (iii) and Article 197-2, paragraph (1), item (v), the statement, with the attachments a Cabinet Office Order (内閣府令) specifies, that a tender offeror (公開買付者) must submit to the Prime Minister on the day of its public notice of the commencement of a tender offer, stating the purchase price, the number of share certificates, etc. it plans to buy, the purchase period and its other terms, any contract to buy them outside the tender offer, and the other matters Article 27-3, paragraph (2) lists.
Short name set inArticle 27-3, paragraph (2)· applies only in this section and in Article 197, paragraph (1), item (iii); and Article 197-2, paragraph (1), item (v)
tender offerormachine translation
「公開買付者」
In Section 1 of Chapter 2-2, a person that has given public notice of the commencement of a tender offer (公開買付開始公告) under Article 27-3, paragraph (1): a tender offer by someone other than the issuer of the share certificates, etc. (株券等).
Short name set inArticle 27-3, paragraph (2)· applies only in this section
public notice of the commencement of a tender offer
「公開買付開始公告」
In Section 1 of Chapter 2-2, the public notice that Article 27-3, paragraph (1) requires on the commencement of a tender offer, stating its purpose, purchase price, the number of share certificates, etc. to be bought, the purchase period and other matters a Cabinet Office Order (内閣府令) specifies.
Short name set inArticle 27-3, paragraph (2)· applies only in this section
terms of purchase, etc.
「買付条件等」
In Section 1 of Chapter II-2, the terms of a tender offer (公開買付け): the purchase price, the number of share certificates, etc. sought for purchase, the purchase period (including any statement in the public notice that it may be extended), delivery and other settlement, and any conditions the tender offeror attaches.
Short name set inArticle 27-3, paragraph (2), item (i)· applies only in this section
tender offer period
「公開買付期間」
In Section 1 of Chapter 2-2, the period from the day of the public notice of the commencement of a tender offer (公開買付開始公告) to the last day of its purchase period, including any extension.
Defined inArticle 27-5, paragraph (1)· applies only in this section
target company
「対象者」
In the section on tender offers by persons other than the issuer and in Article 27-30-11, paragraph (4), the issuer of the share certificates, etc. (株券等) subject to a tender offer (公開買付け).
Short name set inArticle 27-10, paragraph (1)· applies only in this section and in Article 27-30-11, paragraph (4)