第百六十七条の七（株式交換等による取得株式等の取得価額の計算等）
The relationship specified by Cabinet Order prescribed in Article 57-4, paragraph (1) (Special Provisions on Capital Gains Due to Share Exchange) of the Act is, in the case where, immediately before a share exchange, there is between the wholly owning parent corporation in a share exchange prescribed in that paragraph pertaining to that share exchange (referred to in paragraphs (4) and (5) as the "wholly owning parent corporation in a share exchange") and a corporation other than that wholly owning parent corporation in a share exchange a full controlling interest held by that corporation (meaning a full controlling interest prescribed in Article 2, item (xii)-7-6 (Definitions) of the Corporation Tax Act; the same applies hereinafter in this paragraph), that full controlling interest.
法第五十七条の四第一項（株式交換等に係る譲渡所得等の特例）に規定する政令で定める関係は、株式交換の直前に当該株式交換に係る同項に規定する株式交換完全親法人（第四項及び第五項において「株式交換完全親法人」という。）と当該株式交換完全親法人以外の法人との間に当該法人による完全支配関係（法人税法第二条第十二号の七の六（定義）に規定する完全支配関係をいう。以下この項において同じ。）がある場合の当該完全支配関係とする。
The share exchange specified by Cabinet Order prescribed in Article 57-4, paragraph (1) of the Act is a share exchange that has a relationship of holding by shareholders in equal proportions prescribed in Article 4-3, paragraph (18), item (ii) (Shareholding Relationships, etc. in Qualified Reorganizations) of the Order for the Enforcement of the Corporation Tax Act.
法第五十七条の四第一項に規定する政令で定めるものは、法人税法施行令第四条の三第十八項第二号（適格組織再編成における株式の保有関係等）に規定する株主均等割合保有関係がある株式交換とする。
The share options specified by Cabinet Order prescribed in Article 57-4, paragraph (3), item (v) of the Act are the following share options.
法第五十七条の四第三項第五号に規定する政令で定める新株予約権は、次に掲げる新株予約権とする。
a share option issued on terms or for an amount especially favorable to the person who takes up that share option;
新株予約権を引き受ける者に特に有利な条件又は金額により交付された当該新株予約権
a share option issued as all or part of consideration for the provision of services or other acts (excluding those falling under the preceding item).
役務の提供その他の行為に係る対価の全部又は一部として交付された新株予約権（前号に該当するものを除く。）
With regard to the calculation of the amount of business income, amount of capital gains, or amount of miscellaneous income pertaining to shares in the wholly owning parent corporation in a share exchange (including contributions; the same applies hereinafter in this paragraph and the following paragraph) or shares in a corporation that has the relationship prescribed in paragraph (1) with the wholly owning parent corporation in a share exchange (hereinafter in this paragraph referred to as "parent corporation") that were acquired by a Resident to whom the provisions of Article 57-4, paragraph (1) of the Act have applied through a share exchange prescribed in that paragraph, the acquisition price of the old shares prescribed in Article 57-4, paragraph (1) of the Act that were transferred to that wholly owning parent corporation in a share exchange through that share exchange (where there are expenses required for the acquisition of those shares in the wholly owning parent corporation in a share exchange or shares in the parent corporation, the amount obtained by adding the amount of those expenses) is the acquisition price of those acquired shares in the wholly owning parent corporation in a share exchange or shares in the parent corporation.
法第五十七条の四第一項の規定の適用を受けた居住者が同項に規定する株式交換により取得をした株式交換完全親法人の株式（出資を含む。以下この項及び次項において同じ。）又は株式交換完全親法人との間に第一項に規定する関係がある法人（以下この項において「親法人」という。）の株式に係る事業所得の金額、譲渡所得の金額又は雑所得の金額の計算については、当該株式交換により当該株式交換完全親法人に譲渡をした同条第一項に規定する旧株の取得価額（当該株式交換完全親法人の株式又は親法人の株式の取得に要した費用がある場合には、当該費用の額を加算した金額）を当該取得をした当該株式交換完全親法人の株式又は親法人の株式の取得価額とする。
With regard to the calculation of the amount of business income, amount of capital gains, or amount of miscellaneous income after a specified share exchange without consideration, pertaining to shares held (meaning shares in the wholly owning parent corporation in a share exchange pertaining to that specified share exchange without consideration that the Resident holds immediately after that specified share exchange without consideration; the same applies hereinafter in this paragraph) in the case where a Resident to whom the provisions of Article 57-4, paragraph (1) of the Act have applied has come to hold no old shares prescribed in that paragraph due to a specified share exchange without consideration prescribed in that paragraph, the amount obtained by adding the acquisition price of those old shares immediately before that specified share exchange without consideration to the acquisition price of those shares held immediately before that specified share exchange without consideration is the acquisition price of those shares held.
法第五十七条の四第一項の規定の適用を受けた居住者が同項に規定する特定無対価株式交換により同項に規定する旧株を有しないこととなつた場合における所有株式（当該特定無対価株式交換の直後にその居住者が有する当該特定無対価株式交換に係る株式交換完全親法人の株式をいう。以下この項において同じ。）に係る当該特定無対価株式交換の後の事業所得の金額、譲渡所得の金額又は雑所得の金額の計算については、当該所有株式の当該特定無対価株式交換の直前の取得価額に当該旧株の当該特定無対価株式交換の直前の取得価額を加算した金額を当該所有株式の取得価額とする。
With regard to the calculation of the amount of business income, amount of capital gains, or amount of miscellaneous income pertaining to shares in the wholly owning parent corporation resulting from a share transfer prescribed in Article 57-4, paragraph (2) of the Act that were acquired by a Resident to whom the provisions of that paragraph have applied through a share transfer prescribed in that paragraph, the acquisition price of the old shares prescribed in that paragraph that were transferred to that wholly owning parent corporation resulting from a share transfer through that share transfer (where there are expenses required for the acquisition of shares in that wholly owning parent corporation resulting from a share transfer, the amount obtained by adding the amount of those expenses) is the acquisition price of those acquired shares in the wholly owning parent corporation resulting from a share transfer.
法第五十七条の四第二項の規定の適用を受けた居住者が同項に規定する株式移転により取得をした同項に規定する株式移転完全親法人の株式に係る事業所得の金額、譲渡所得の金額又は雑所得の金額の計算については、当該株式移転により当該株式移転完全親法人に譲渡をした同項に規定する旧株の取得価額（当該株式移転完全親法人の株式の取得に要した費用がある場合には、当該費用の額を加算した金額）を当該取得をした当該株式移転完全親法人の株式の取得価額とする。
With regard to the calculation of the amount of business income, amount of capital gains, or amount of miscellaneous income pertaining to shares (including contributions and investment units prescribed in Article 2, paragraph (14) (Definitions) of the Act on Investment Trusts and Investment Corporations; the same applies hereinafter in this Article) specified in each item of Article 57-4, paragraph (3) of the Act, or to share options, that a Resident to whom the provisions of that paragraph have applied acquired due to the grounds prescribed in each item of that paragraph, the amount specified in each of the following items for the category of those acquired shares or share options set out in that item is the acquisition price of those acquired shares or share options.
法第五十七条の四第三項の規定の適用を受けた居住者が同項各号に規定する事由により取得をした当該各号に定める株式（出資及び投資信託及び投資法人に関する法律第二条第十四項（定義）に規定する投資口を含む。以下この条において同じ。）又は新株予約権に係る事業所得の金額、譲渡所得の金額又は雑所得の金額の計算については、次の各号に掲げる当該取得をした株式又は新株予約権の区分に応じ当該各号に定める金額を当該取得をした株式又は新株予約権の取得価額とする。
Shares in the corporation making the acquisition that were delivered as consideration for the acquisition of shares with a put option prescribed in Article 57-4, paragraph (3), item (i) of the Act through the exercise of the put option specified in that item (limited to shares in the corporation making the acquisition in the case where the provisions of that paragraph apply): the acquisition price of those shares with a put option (where there are expenses required for the acquisition of the shares to be acquired, the amount obtained by adding the amount of those expenses);
法第五十七条の四第三項第一号に規定する取得請求権付株式に係る同号に定める請求権の行使による当該取得請求権付株式の取得の対価として交付を受けた当該取得をする法人の株式（同項の規定の適用を受ける場合の当該取得をする法人の株式に限る。） 当該取得請求権付株式の取得価額（当該取得をする株式の取得に要した費用がある場合には、当該費用の額を加算した金額）
Shares in the corporation making the acquisition that were delivered as consideration for the acquisition of shares subject to call prescribed in Article 57-4, paragraph (3), item (ii) of the Act due to the occurrence of the grounds to acquire specified in that item (limited to the case where only shares in the corporation making the acquisition are delivered, as consideration for that acquisition, to the Shareholder, Member, or Other Investor prescribed in that item whose shares are acquired) (limited to shares in the corporation making the acquisition in the case where the provisions of that paragraph apply): the acquisition price of those shares subject to call (where there are expenses required for the acquisition of the shares to be acquired, the amount obtained by adding the amount of those expenses);
法第五十七条の四第三項第二号に規定する取得条項付株式に係る同号に定める取得事由の発生（その取得の対価として当該取得をされる同号の株主等に当該取得をする法人の株式のみが交付されたものに限る。）による当該取得条項付株式の取得の対価として交付を受けた当該取得をする法人の株式（同項の規定の適用を受ける場合の当該取得をする法人の株式に限る。） 当該取得条項付株式の取得価額（当該取得をする株式の取得に要した費用がある場合には、当該費用の額を加算した金額）
the following shares and share options of the corporation making the acquisition that are received as consideration for the acquisition of the shares subject to call prescribed in Article 57-4, paragraph (3), item (ii) of the Act due to the occurrence of the grounds to acquire pertaining to those shares provided for in that item (limited to the case where all of the shares of the class of shares subject to that acquisition have been acquired and only shares and share options of the corporation making the acquisition have been delivered, as consideration for that acquisition, to the Shareholder, Member, or Other Investor prescribed in that item who is subject to that acquisition) (limited to those shares and share options of the corporation making the acquisition where the provisions of that paragraph apply): the amount specified respectively below according to the category of those shares and share options;
法第五十七条の四第三項第二号に規定する取得条項付株式に係る同号に定める取得事由の発生（その取得の対象となつた種類の株式の全てが取得され、かつ、その取得の対価として当該取得をされる同号の株主等に当該取得をする法人の株式及び新株予約権のみが交付されたものに限る。）による当該取得条項付株式の取得の対価として交付を受けた当該取得をする法人の次に掲げる株式及び新株予約権（同項の規定の適用を受ける場合の当該取得をする法人の当該株式及び新株予約権に限る。） 当該株式及び新株予約権の区分に応じそれぞれに定める金額
shares of the corporation making the acquisition: the acquisition price of the shares subject to call (if there are expenses required for the acquisition of the shares to be acquired, the amount obtained by adding the amount of those expenses);
当該取得をする法人の株式 当該取得条項付株式の取得価額（当該取得をする株式の取得に要した費用がある場合には、当該費用の額を加算した金額）
share options of the corporation making the acquisition: zero;
当該取得をする法人の新株予約権 零
shares of the corporation making the acquisition that are received as consideration for the acquisition of the shares subject to class-wide call prescribed in Article 57-4, paragraph (3), item (iii) of the Act by the resolution to acquire pertaining to those shares provided for in that item (limited to the case where no assets other than shares of the corporation making the acquisition (excluding money or other assets delivered based on a petition for determination of the price of that acquisition) have been delivered, as consideration for that acquisition, to the Shareholder, Member, or Other Investor prescribed in that item who is subject to that acquisition) (limited to those shares of the corporation making the acquisition where the provisions of that paragraph apply): the acquisition price of the shares subject to class-wide call (if there are expenses required for the acquisition of the shares to be acquired, the amount obtained by adding the amount of those expenses);
法第五十七条の四第三項第三号に規定する全部取得条項付種類株式に係る同号に定める取得決議（その取得の対価として当該取得をされる同号の株主等に当該取得をする法人の株式以外の資産（当該取得の価格の決定の申立てに基づいて交付される金銭その他の資産を除く。）が交付されなかつたものに限る。）による当該全部取得条項付種類株式の取得の対価として交付を受けた当該取得をする法人の株式（同項の規定の適用を受ける場合の当該取得をする法人の株式に限る。） 当該全部取得条項付種類株式の取得価額（当該取得をする株式の取得に要した費用がある場合には、当該費用の額を加算した金額）
the following shares and share options of the corporation making the acquisition that are received as consideration for the acquisition of the shares subject to class-wide call prescribed in Article 57-4, paragraph (3), item (iii) of the Act by the resolution to acquire pertaining to those shares provided for in that item (limited to the case where shares and share options of the corporation making the acquisition have been delivered, as consideration for that acquisition, to the Shareholder, Member, or Other Investor prescribed in that item who is subject to that acquisition, and no assets other than these (excluding money or other assets delivered based on a petition for determination of the price of that acquisition) have been delivered) (limited to those shares and share options of the corporation making the acquisition where the provisions of that paragraph apply): the amount specified respectively below according to the category of those shares and share options;
法第五十七条の四第三項第三号に規定する全部取得条項付種類株式に係る同号に定める取得決議（その取得の対価として当該取得をされる同号の株主等に当該取得をする法人の株式及び新株予約権が交付され、かつ、これら以外の資産（当該取得の価格の決定の申立てに基づいて交付される金銭その他の資産を除く。）が交付されなかつたものに限る。）による当該全部取得条項付種類株式の取得の対価として交付を受けた当該取得をする法人の次に掲げる株式及び新株予約権（同項の規定の適用を受ける場合の当該取得をする法人の当該株式及び新株予約権に限る。） 当該株式及び新株予約権の区分に応じそれぞれに定める金額
shares of the corporation making the acquisition: the acquisition price of the shares subject to class-wide call (if there are expenses required for the acquisition of the shares to be acquired, the amount obtained by adding the amount of those expenses);
当該取得をする法人の株式 当該全部取得条項付種類株式の取得価額（当該取得をする株式の取得に要した費用がある場合には、当該費用の額を加算した金額）
share options of the corporation making the acquisition: zero;
当該取得をする法人の新株予約権 零
shares of the corporation making the acquisition that are received as consideration for the acquisition of the corporate bond pertaining to the bond with share options prescribed in Article 57-4, paragraph (3), item (iv) of the Act, by the exercise of the share options provided for in that item pertaining to that corporate bond (limited to those shares of the corporation making the acquisition where the provisions of that paragraph apply): the acquisition price of the bond with share options (if there are expenses required for the acquisition of the shares to be acquired, the amount obtained by adding the amount of those expenses);
法第五十七条の四第三項第四号に規定する新株予約権付社債についての社債に係る同号に定める新株予約権の行使による当該社債の取得の対価として交付を受けた当該取得をする法人の株式（同項の規定の適用を受ける場合の当該取得をする法人の株式に限る。） 当該新株予約権付社債の取得価額（当該取得をする株式の取得に要した費用がある場合には、当該費用の額を加算した金額）
shares of the corporation making the acquisition that are received as consideration for the acquisition of the share options subject to call prescribed in Article 57-4, paragraph (3), item (v) of the Act due to the occurrence of the grounds to acquire pertaining to those share options provided for in that item (limited to those shares of the corporation making the acquisition where the provisions of that paragraph apply): the acquisition price of the share options subject to call (if there are expenses required for the acquisition of the shares to be acquired, the amount obtained by adding the amount of those expenses);
法第五十七条の四第三項第五号に規定する取得条項付新株予約権に係る同号に定める取得事由の発生による当該取得条項付新株予約権の取得の対価として交付を受けた当該取得をする法人の株式（同項の規定の適用を受ける場合の当該取得をする法人の株式に限る。） 当該取得条項付新株予約権の取得価額（当該取得をする株式の取得に要した費用がある場合には、当該費用の額を加算した金額）
shares of the corporation making the acquisition that are received as consideration for the acquisition of the bond with share options to which the share options subject to call prescribed in Article 57-4, paragraph (3), item (vi) of the Act are attached, due to the occurrence of the grounds to acquire pertaining to that bond provided for in that item (limited to those shares of the corporation making the acquisition where the provisions of that paragraph apply): the acquisition price of the bond with share options (if there are expenses required for the acquisition of the shares to be acquired, the amount obtained by adding the amount of those expenses).
法第五十七条の四第三項第六号に規定する取得条項付新株予約権が付された新株予約権付社債に係る同号に定める取得事由の発生による当該新株予約権付社債の取得の対価として交付を受けた当該取得をする法人の株式（同項の規定の適用を受ける場合の当該取得をする法人の株式に限る。） 当該新株予約権付社債の取得価額（当該取得をする株式の取得に要した費用がある場合には、当該費用の額を加算した金額）
The portion equivalent to a fraction of less than one share (including what is equivalent thereto) prescribed in Article 167, paragraph (3) (Effectuation) or Article 283 (Treatment of Fractional Shares) of the Companies Act is to be included in the shares of the corporation making the acquisition prescribed in Article 57-4, paragraph (3), item (i) or item (iv) of the Act.
会社法第百六十七条第三項（効力の発生）又は第二百八十三条（一に満たない端数の処理）に規定する一株に満たない端数（これに準ずるものを含む。）に相当する部分は、法第五十七条の四第三項第一号又は第四号に規定する取得をする法人の株式に含まれるものとする。
Article 168Calculation of the Acquisition Price, etc. of Acquired Assets by Exchange
第百六十八条（交換による取得資産の取得価額等の計算）
Changes on a date not yet set (Cabinet Order No. 93 of 2026)
For the calculation of the amount of the depreciation allowance prescribed in Article 49, paragraph (1) (Calculating Depreciation Allowances for Depreciable Assets; Depreciation Methods) of the Act that a Resident to whom the provisions of Article 58, paragraph (1) (Special Provisions on Capital Gains if the Resident Exchanges Fixed Assets) of the Act have applied is to make with regard to the acquired asset prescribed in that paragraph (hereinafter in this Article referred to as the "acquired asset"), and for the calculation of the amount of capital gains in the case where that person transfers the acquired asset, that person is deemed to have acquired the acquired asset for the amount listed in each of the following items according to the category of cases set out in those items. In this case, for the determination of which of the income listed in the items of Article 33, paragraph (3) (Amount of Capital Gains) of the Act the income from that transfer falls under, that person is deemed to have owned the acquired asset continuously since the time of acquiring the transferred asset prescribed in Article 58, paragraph (1) of the Act (hereinafter in this Article referred to as the "transferred asset").
法第五十八条第一項（固定資産の交換の場合の譲渡所得の特例）の規定の適用を受けた居住者が同項に規定する取得資産（以下この条において「取得資産」という。）について行なうべき法第四十九条第一項（減価償却資産の償却費の計算及びその償却の方法）に規定する償却費の額の計算及びその者が取得資産を譲渡した場合における譲渡所得の金額の計算については、その者がその取得資産を次の各号に掲げる場合の区分に応じ当該各号に掲げる金額をもつて取得したものとみなす。この場合において、その譲渡による所得が法第三十三条第三項各号（譲渡所得の金額）に掲げる所得のいずれに該当するかの判定については、その者がその取得資産を法第五十八条第一項に規定する譲渡資産（以下この条において「譲渡資産」という。）を取得した時から引き続き所有していたものとみなす。
in the case of acquiring an exchange balancing payment, etc. (meaning money or other assets delivered to make up the difference where the value of the acquired asset and the value of the transferred asset at the time of the exchange prescribed in Article 58, paragraph (1) of the Act are not equal; the same applies hereinafter in this Article) together with the acquired asset: the amount calculated by multiplying the acquisition cost of the transferred asset under Article 38, paragraph (1) or (2) (Acquisition Costs Deducted to Calculate Capital Gains) of the Act (where the transferred asset falls under Article 61, paragraph (2) or (3) (Acquisition Costs of Assets Acquired Prior to December 31, 1952) of the Act, the acquisition cost under those provisions, and where there are expenses required for the transfer of the transferred asset, the amount obtained by adding the amount of those expenses to that acquisition cost; hereinafter in this Article referred to as the "acquisition cost") by the proportion that the value of the acquired asset accounts for in the sum of the value of the acquired asset and the amount of the exchange balancing payment, etc.;
取得資産とともに交換差金等（法第五十八条第一項に規定する交換の時における取得資産の価額と譲渡資産の価額とが等しくない場合にその差額を補うために交付される金銭その他の資産をいう。以下この条において同じ。）を取得した場合 譲渡資産の法第三十八条第一項又は第二項（譲渡所得の金額の計算上控除する取得費）の規定による取得費（その譲渡資産が法第六十一条第二項又は第三項（昭和二十七年十二月三十一日以前に取得した資産の取得費等）の規定に該当するものである場合には、これらの規定による取得費とし、その譲渡資産の譲渡に要した費用がある場合には、これらの取得費にその費用の額を加算した金額とする。以下この条において「取得費」という。）に、その取得資産の価額とその交換差金等の額との合計額のうちにその取得資産の価額の占める割合を乗じて計算した金額
in the case of acquiring the acquired asset by delivering an exchange balancing payment, etc. together with the transferred asset: the amount obtained by adding the amount of the exchange balancing payment, etc. to the acquisition cost of the transferred asset;
in the case where there are expenses required for acquiring the acquired asset: the amount obtained by adding the amount of those expenses to the acquisition cost of the transferred asset (where the provisions of the preceding two items apply, the amount listed in those items).
Article 169Scope of Low-Price Transfers Deemed to Be Transfers at Market Value
第百六十九条（時価による譲渡とみなす低額譲渡の範囲）
The amount specified by Cabinet Order prescribed in Article 59, paragraph (1), item (ii) (Special Provisions on Capital Gains and Gifts) of the Act is an amount less than one-half of the value, at the time of the transfer of the forest land or the transfer of assets that give rise to capital gains prescribed in that paragraph, of that forest land or those assets.
法第五十九条第一項第二号（贈与等の場合の譲渡所得等の特例）に規定する政令で定める額は、同項に規定する山林又は譲渡所得の基因となる資産の譲渡の時における価額の二分の一に満たない金額とする。
full controlling interestmachine translation
「完全支配関係」
A relationship, of a kind a Cabinet Order (政令) specifies, in which one person holds directly or indirectly all the issued shares or capital contributions of a corporation (not counting those it holds itself), or the relationship between corporations each in such a relationship with the same person.
Defined inArticle 167-7, paragraph (1)· applies only in this paragraph
wholly owning parent corporation in a share exchangemachine translation
「株式交換完全親法人」
A company that, by acquiring another company's shares in a share exchange, comes to own all of that company's issued shares, as defined in Article 2, item (xii)-6-3 of the Corporation Tax Act.
Short name set inArticle 167-7, paragraph (1)· applies only in this provision and in Article 167-7, paragraphs (4) and (5)
parent corporationmachine translation
「親法人」
A corporation that, immediately before a share exchange, wholly controls (完全支配関係) the wholly owning parent corporation in that share exchange (株式交換完全親法人), whose shares a resident may receive in a share exchange under Article 57-4, paragraph (1) of the Income Tax Act.
Short name set inArticle 167-7, paragraph (4)· applies only in this paragraph
shares heldmachine translation
「所有株式」
In Article 167-7, paragraph (5), the shares of the wholly owning parent corporation in a share exchange (株式交換完全親法人) that a resident holds immediately after a specified share exchange without consideration (特定無対価株式交換) under Article 57-4, paragraph (1) of the Income Tax Act through which the resident ceased to hold old shares (旧株), to whose acquisition price the paragraph adds that of the old shares.
Defined inArticle 167-7, paragraph (5)· applies only in this paragraph
acquired assetmachine translation
「取得資産」
A fixed asset received in exchange for a similar fixed asset, each having been held for at least a year; if it is put to the same use as the asset given up, the exchange is treated as no transfer for capital gains purposes.
Short name set inArticle 168, paragraph (1)· applies only in this article
transferred assetmachine translation
「譲渡資産」
A fixed asset given up in an exchange for a similar fixed asset, whose transfer is treated as not having happened if the asset received is put to the same use.
Short name set inArticle 168, paragraph (1)· applies only in this article
exchange balancing payment, etc.machine translation
「交換差金等」
Money or other assets handed over in an exchange under Article 58, paragraph (1) of the Income Tax Act to make up the difference where the asset received and the asset given up are not of equal value at the time of the exchange.
Defined inArticle 168, paragraph (1), item (i)· applies only in this article
acquisition costmachine translation
「取得費」
The acquisition cost of the asset given up in an exchange, under Article 38, paragraph (1) or (2) of the Income Tax Act (or under Article 61, paragraph (2) or (3) of that Act for an asset acquired on or before 31 December 1952), plus any expenses of transferring it.
Short name set inArticle 168, paragraph (1), item (i)· applies only in this article