①The provisions of Article 234, paragraphs (1) through (5); Article 868, paragraph (1); Article 869; Article 871; Article 874 (limited to the part that involves item (iv)); Article 875; and Article 876 of the Companies Act apply mutatis mutandis if fractional units or shares that constitute less than one unit of contribution or one share result from the merger referred to in Article 136, paragraph (1). In such a case, the necessary technical replacement of terms is specified by Cabinet Order.

②The amounts that are required to be included in the capital reserves at the time of a merger and other necessary particulars for the accounting at the time of a merger are specified by Cabinet Office Order.

①The provisions of Article 219, paragraph (1) (limited to the part that involves item (vi)), paragraph (2) (limited to the part that involves item (iv)) and paragraph (3), Article 220 and Article 293, paragraph (1) (limited to the part that involves item (iii)), paragraph (2) (limited to the part that involves item (iv)), and paragraphs (3) and (5) of the Companies Act apply mutatis mutandis to the incorporated financial instruments exchange disappearing in the consolidation-type merger. In such a case, the necessary technical replacement of terms is specified by Cabinet Order.

②The provisions of Article 940, paragraph (1) (limited to the part that involves item (i)) and paragraph (3) of the Companies Act apply mutatis mutandis if an incorporated financial instruments exchange disappearing in a consolidation-type merger makes a public notice under Article 219, paragraph (1) or Article 293, paragraph (1) of that Act as applied mutatis mutandis pursuant to the preceding paragraph through an electronic public notice; and the provisions of Article 940, paragraph (1) (limited to the part that involves item (iii)) and paragraph (3) of that Act apply mutatis mutandis if an incorporated financial instruments exchange disappearing in a consolidation-type merger issues the public notice under Article 220, paragraph (1) of that Act as applied mutatis mutandis pursuant to the preceding paragraph (including as applied mutatis mutandis pursuant to Article 293, paragraph (5) of that Act, as applied mutatis mutandis pursuant to the preceding paragraph) through an electronic public notice. In such a case, the necessary technical replacement of terms is specified by Cabinet Order.

③The provisions of Article 154, paragraph (2) (limited to the part that involves item (iii)) and Article 272, paragraph (3) (limited to the part that involves item (iii)) of the Companies Act apply mutatis mutandis to the case in which an incorporated association-operated financial instruments exchange and an incorporated financial instruments exchange implement a consolidation-type merger. In this case, in Article 154, paragraph (2), item (iii) and Article 272, paragraph (3), item (iii) of that Act, the phrase "company surviving an absorption-type merger prescribed in Article 749, paragraph (1) or a company incorporated in a consolidation-type merger prescribed in Article 753, paragraph (1)" is deemed to be replaced with "incorporated financial instruments exchange incorporated in the consolidation-type merger prescribed in Article 139-2, paragraph (1), item (ii) of the Financial Instruments and Exchange Act".

①The provisions of Article 79; Article 80 (excluding items (ii), (vi), (ix) and (x)); Article 81 (excluding items (iii), (vi), (ix) and (x)); Article 82; and Article 83 of the Commercial Registration Act apply mutatis mutandis to the registration of an incorporated association-operated financial instruments exchange upon merger in the case set forth in Article 136, paragraph (2), item (i). In this case, in Article 79 of that Act, the phrase "trade name and head office" is deemed to be replaced with "name and principal office"; in Article 80, items (iii) and (viii), and Article 81, item (viii) of that Act, the phrase "publication in a daily newspaper that publishes matters on current affairs or by means of electronic public notices" is deemed to be replaced with "publication in a daily newspaper that publishes information on current affairs"; in Article 80, item (iv) of that Act, the phrase "amount of stated capital" is deemed to be replaced with "total amount of contributions"; in Article 80, item (v) and Article 81, item (v) of that Act, the term "head office" is deemed to be replaced with "office"; in Article 80, item (vii) of that Act, the phrase "in cases where a company absorbed in absorption-type merger is a membership company, a document evidencing that the consent of all members has been obtained (or, in cases where otherwise provided for in its articles of incorporation, that the procedures under such provisions have been performed)" is deemed to be replaced with "minutes of the general meeting of members concerning the merger of the incorporated association-operated financial instruments exchange effecting the absorption-type merger"; in Article 80, item (viii) and Article 81, item (viii) of that Act, the phrase "a stock company or a limited liability company" is deemed to be replaced with " incorporated association-operated financial instruments exchange " and in those Articles, the phrase "the following documents" is deemed to be replaced with "the following documents and a document evidencing the credentials of the person with the authority of representation"; in Article 81, item (vii) of that Act, the phrase "in cases where a company consolidated through consolidation-type merger is a membership company, a document evidencing that the consent of all members has been obtained (or, in cases where otherwise provided for in its articles of incorporation, that the procedures under the relevant provisions have been performed)" is deemed to be replaced with "minutes of the general meetings of members concerning the merger of the incorporated association-operated financial instruments exchanges disappearing in the consolidation-type merger"; in Article 82, paragraph (2) and Article 83 of that Act, the term "head office" is deemed to be replaced with "principal office"; and any other necessary technical replacement of terms is specified by Cabinet Order.

②The provisions of Article 79, Article 80 (excluding items (vi), (ix) and (x)), and Articles 81 through 83 of the Commercial Registration Act apply mutatis mutandis to the registration of an incorporated association-operated financial instruments exchange or incorporated financial instruments exchange upon merger in the case set forth in Article 136, paragraph (2), item (ii). In this case, in Article 79 of that Act, the phrase "trade name and head office" is deemed to be replaced with "name or trade name, and the principal office or head office"; in Article 80, item (v) of that Act, the term "head office" is deemed to be replaced with "office"; in Article 80, item (vii) of that Act, the phrase "in cases where a company absorbed in absorption-type merger is a membership company, a document evidencing that the consent of all members has been obtained (or, in cases where otherwise provided for in its articles of incorporation, that the procedures under such provisions have been performed)" is deemed to be replaced with "minutes of the general meeting of members concerning the merger of the incorporated association-operated financial instruments exchange disappearing in the absorption-type merger"; in Article 80, item (viii) of that Act, the phrase "publication in a daily newspaper that publishes matters on current affairs or by means of electronic public notices" is deemed to be replaced with "publication in a daily newspaper that publishes information on current affairs" and the phrase "a stock company or a limited liability company" is deemed to be replaced with "an incorporated association-operated financial instruments exchange "; in Article 81, item (v) of that Act, the term "head office" is deemed to be replaced with "office or head office"; in Article 81, item (vii) of that Act, the phrase" in cases where a company consolidated through consolidation-type merger is a membership company, a document evidencing that the consent of all members has been obtained (or, in cases where otherwise provided for in its articles of incorporation, that the procedures under the relevant provisions have been performed)" is deemed to be replaced with "minutes of the general meetings of members concerning the merger of the incorporated association-operated financial instruments exchange disappearing in the consolidation-type merger"; in Article 81, item (viii) of that Act, the phrase "a stock company or a limited liability company" is deemed to be replaced with "an incorporated association-operated financial instruments exchange or incorporated financial instruments exchange"; in Article 83, paragraph (2) of that Act, the phrase "the head office of a company consolidated through consolidation-type merger" is deemed to be replaced with "the principal offices and head offices of the financial instruments exchanges disappearing in the consolidation-type merger"; and any other necessary technical replacement of terms is specified by Cabinet Order.

The provisions of Article 828, paragraph (1) (limited to the part that involves item (vii) and item (viii)) and paragraph (2) (limited to the part that involves item (vii) and item (viii)); Article 834 (limited to the part that involves item (vii) and item (viii)); Article 835, paragraph (1); Articles 836 through 839; Article 843 (excluding paragraph (1), item (iii) and item (iv) and the proviso to paragraph (2)); Article 846; and Article 937, paragraph (3) (limited to the part that involves item (ii) and item (iii)) of the Companies Act apply mutatis mutandis to the action to invalidate a merger referred to in Article 136, paragraph (1); and the provisions of Article 868, paragraph (6); Article 870, paragraph (2) (limited to the part that involves item (vi)); Article 870-2; the main clause of Article 871; Article 872 (limited to the part that involves item (v)); Article 872-2; the main clause of Article 873; Article 875; and Article 876 of the Companies Act apply mutatis mutandis to the petition referred to in Article 843, paragraph (4) of that Act as applied mutatis mutandis pursuant to this Article. In this case, in Article 828, paragraph (2), item (vii) of the Companies Act, the phrase "a shareholder, etc. or a member, etc." is deemed to be replaced with "a member, etc. (meaning a member, president, director, inspector, or liquidator; hereinafter the same applies in this item)" and the phrase "a shareholder, etc., a member, etc." is deemed to be replaced with "a member, etc., shareholder, etc. (meaning a shareholder, director, or liquidator (if it is a company with company auditors, this means a shareholder, director, company auditor, or liquidator; and if it is a company with nominating committee, etc., this means a shareholder, director, executive officer, or liquidator))"; in item (viii) of that paragraph, the phrase "a shareholder, etc. or a member, etc." is deemed to be replaced with "a member, etc. (meaning a member, president, director, inspector, or liquidator; hereinafter the same applies in this item) or shareholder, etc. (meaning a shareholder, director, or liquidator (if it is a company with company auditors, this means a shareholder, director, company auditor, or liquidator; and if it is a company with nominating committee, etc., this means a shareholder, director, executive officer, or liquidator); hereinafter the same applies in this item)" and the phrase "a shareholder, etc., a member, etc." is deemed to be replaced with "a member, etc., shareholder, etc."; in Article 937, paragraph (3) of that Act, the term "head office" is deemed to be replaced with "head office (if it is an incorporated association-operated financial instruments exchange, the principal office)"; and any other necessary technical replacement of terms is specified by Cabinet Order.

①If an incorporated association-operated financial instruments exchange and an incorporated financial instruments exchange implement a merger, the incorporated association-operated financial instruments exchange is deemed to be a company, and Article 15 of the Act on Prohibition of Private Monopolization and Maintenance of Fair Trade (Act No. 54 of 1947) and the provisions of that Act that are related to that Article apply.

②If an incorporated financial instruments exchange acquires all or part of an incorporated association-operated financial instruments exchange's business, the incorporated association-operated financial instruments exchange is deemed to be a company, and Article 467 of the Companies Act and the provisions of that Act which are related to that Article, as well as Article 16 of the Act on Prohibition of Private Monopolization and Maintenance of Fair Trade and the provisions of that Act which are related to that Article, apply.