Article 27-2Special Provisions for Notification of Inward Direct Investment and Equivalent Actions
第二十七条の二（対内直接投資等の届出の特例）
Changes on (Act No. 30 of 2026)
Notwithstanding the provisions of paragraph (1) of the preceding Article, if a foreign investor (meaning a foreign investor as provided in Article 26, paragraph (1); excluding a foreign investor that has violated this Act, an Order based on this Act, or an administrative disposition based on either of these, or any other foreign investor prescribed by Cabinet Order as one for which there is a high need to carry out an examination under paragraph (3) of the preceding Article; hereinafter the same applies in this Article) seeks to conduct an inward direct investment or equivalent action (meaning an inward direct investment or equivalent action as provided in Article 26, paragraph (2); limited to an action as stated in items (i) through (iv) of that paragraph or item (ix) of that paragraph (limited to those equivalent to the actions stated in items (i) through (iv)); hereinafter the same applies in this Article and Article 29, paragraph (5)) other than one prescribed by Cabinet Order as being highly likely to constitute inward direct investment or an equivalent action that is a matter of national security or a similar concern, the foreign investor is not required to file the notification under paragraph (1) of the preceding Article. In such a case, the foreign investor must comply with the criteria that must be met in order for an inward direct investment or equivalent action not to constitute inward direct investment or an equivalent action that is a matter of national security or a similar concern, which the Minister of Finance and the competent minister for the business establish.
外国投資家（第二十六条第一項に規定する外国投資家をいい、この法律、この法律に基づく命令又はこれらに基づく処分に違反したものその他の前条第三項の規定による審査を行う必要性が高いものとして政令で定めるものを除く。以下この条において同じ。）は、対内直接投資等（第二十六条第二項に規定する対内直接投資等をいい、同項第一号から第四号まで及び第九号（第一号から第四号までに掲げる行為に準ずるものに限る。）に掲げる行為に限る。以下この条及び第二十九条第五項において同じ。）のうち、国の安全等に係る対内直接投資等に該当するおそれが大きいものとして政令で定めるもの以外のものを行おうとする場合には、前条第一項の規定にかかわらず、同項の規定による届出をすることを要しない。この場合において、当該外国投資家は、財務大臣及び事業所管大臣が定める対内直接投資等が国の安全等に係る対内直接投資等に該当しないための基準を遵守しなければならない。
Before the Minister of Finance and the competent minister for the business propose to establish, revise, or repeal the criteria provided for in the preceding paragraph, they must hear the opinions of the Council on Customs, Tariffs, Foreign Exchange, and Other Transactions.
財務大臣及び事業所管大臣は、前項に規定する基準の制定又は改廃の立案をしようとするときは、関税・外国為替等審議会の意見を聴かなければならない。
If the Minister of Finance and the competent minister for the business find that a foreign investor that, pursuant to the provisions of paragraph (1), has conducted an inward direct investment or equivalent action without filing a notification under paragraph (1) of the preceding Article, has violated the criteria provided for in paragraph (1), they may issue a recommendation for the foreign investor to take the necessary measures to comply with those criteria.
If a foreign investor that has been issued a recommendation under the preceding paragraph fails to follow this, the Minister of Finance and the competent minister for the business may order the foreign investor that has been issued the recommendation to take the recommended measures.
Changes on (Act No. 30 of 2026)
Beyond what is provided for in the preceding two paragraphs, Cabinet Order prescribes the procedures for issuing recommendations under paragraph (3), and provides for other necessary particulars in connection with these recommendations.
Changes on (Act No. 30 of 2026)
Assets and rights that a partner of a specified partnership or similar organization acquires through an action that is comparable to the inward direct investments and equivalent actions that the specified partnership or similar organization undertakes are deemed to be acquired, owned, or held by the specified partnership or similar organization, and the provisions of the preceding paragraphs and Article 29, paragraph (5) apply.
Changes on (Act No. 30 of 2026)
A person (including a corporation or any other organization) not constituting a foreign investor is deemed to be a foreign investor in connection with any action comparable to an inward direct investment or equivalent action which that person conducts on behalf of a foreign investor but not in the name of that foreign investor, and the provisions of paragraphs (1) through (5) and Article 29, paragraph (5) apply.
外国投資家以外の者（法人その他の団体を含む。）が外国投資家のために当該外国投資家の名義によらないで行う対内直接投資等に相当するものについては、当該外国投資家以外の者を外国投資家とみなして、第一項から第五項まで及び第二十九条第五項の規定を適用する。
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assets
「財産」
Assets, including means of payment (支払手段), electronic payment instruments (電子決済手段等), precious metals (貴金属), securities (証券), claims (債権) and goods (貨物).
Defined inArticle 6, paragraph (1), item (xvi)
specified partnership or similar organization
「特定組合等」
A partnership — a voluntary partnership (任意組合), an investment limited partnership (投資事業有限責任組合) or a similar organization set up under foreign law — in which non-resident individuals or others a Cabinet Order (政令) specifies contribute 50% or more of the total contributions, or make up a majority of the managing partners.
Short name set inArticle 26, paragraph (1), item (iv)
inward direct investment or equivalent action that is a matter of national security or a similar concernmachine translation
「国の安全等に係る対内直接投資等」
An inward direct investment or equivalent action (対内直接投資等) of any of the kinds Article 27, paragraph (3) lists: one likely to harm national security, disturb public order or hinder public safety, or to seriously harm the smooth running of Japan's economy, where no treaty obligation to remove restrictions covers it; one by an investor from a country with no investment treaty with Japan that must be changed or stopped to match the treatment Japanese investors receive there; or one that must be changed or stopped because it amounts, in whole or part, to a capital transaction (資本取引) requiring permission under Article 21.
Short name set inArticle 27, paragraph (3)
foreign investor
「外国投資家」
In Article 27-2, a foreign investor as defined in Article 26, paragraph (1) — a non-resident individual, a corporation or other body set up under foreign law or with its principal office abroad, or a company, partnership or other body controlled by such persons as that paragraph sets out — other than one that has violated this Act, an order under it or a disposition under either, or another a Cabinet Order (政令) specifies as having a high need to be examined under Article 27, paragraph (3).
Defined inArticle 27-2, paragraph (1)· applies only in this article