Article 28, paragraph (3)

When a notification under paragraph (1) has been filed, on finding it necessary to examine whether the specified acquisition that is subject to the notification constitutes a specified acquisition that is highly likely to cause a situation that would compromise national security (but only a specified acquisition that is undertaken by a foreign investor from a member state of a multilateral treaty or other international agreement on specified acquisition that Cabinet Order prescribes and to which Japan has acceded (hereinafter referred to as a "treaty or other agreement" in this paragraph), if there is no obligation to remove restrictions on that specified acquisition based on the treaty or other agreement; as well as a specified acquisition that is undertaken by a foreign investor from a state other than the member state of such a treaty or other agreement, if there would be no obligation to remove restrictions on the specified acquisition if the state in question were a member state of the treaty or other agreement; hereinafter referred to as a "specified acquisition that is a matter of national security"), the Minister of Finance and the competent minister for the business may extend the period during which the specified acquisition that is subject to the notification must not be undertaken, but only to a period of four months starting, pursuant to the provisions of Cabinet Order, extend the prohibition period (meaning the period prescribed in the main clause of the preceding paragraph that relates to that notification; hereinafter the same applies in this Article and Article 28-3), but only until the final day in the four-month period that starts on the day on which the notification is received.