Real Estate Brokerage Act

The purpose of this Act is to secure the proper operations of the business of persons engaged in real estate brokerage by implementing a licensing system for said persons, through the enforcement of necessary regulations, properly managing business, making fair dealings and promoting the sound development of real estate brokerage while continuing the smooth distribution and facilitation, and protecting the profits of buyers, etc.

In this Act, the meanings of the terms set forth in the following items are as prescribed respectively in those items:

①If a person intends to engage in Real Estate Brokerage upon establishing business offices (head office, branch office, or any other business offices as specified by Cabinet Order; the same applies hereinafter) within zones in two or more prefectures, said person must obtain a license granted by the Minister of Land, Infrastructure, Transport and Tourism or, if the person intends to engage in said business upon establishing business offices within zones in a single prefecture only, obtain a license granted by the governor of the prefecture with jurisdiction over the locations of said business offices.

②The period of validity of the license as provided for in the preceding paragraph is five years.

③A person intending to continue engaging in Real Estate Brokerage after the expiration of the period of validity as provided for in the preceding paragraph must renew their license.

④If an application for a renewal of a license as provided for in the preceding paragraph is made and said application is not subject to a disposition by the date on which the period of validity as provided for in paragraph (2) expires, the prior license is to remain in effect even after the expiration of the period of validity as provided for in the same paragraph, until such time that it is subject to disposition.

⑤If a license is renewed as in the case referred to in the preceding paragraph, the period of validity of said license is to be calculated from the day following the date on which the period of validity for the prior license expires.

⑥A person intending to obtain a license granted by the Minister of Land, Infrastructure, Transport and Tourism as provided for in paragraph (1) must pay a registration and license tax pursuant to the provisions of the Registration and License Tax Act (Act No. 35 of 1967), and a person intending to renew a license granted by the Minister of Land, Infrastructure, Transport and Tourism pursuant to the provisions of paragraph (3) must pay a service fee pursuant to the provisions of a Cabinet Order.

①The Minister of Land, Infrastructure, Transport and Tourism or a prefectural governor may attach conditions to a license as provided for in paragraph (1) of the preceding article (including the renewal of a license as provided for in paragraph (3) of the same article; the same applies hereinafter except in Article 25, paragraph (6)), and may revise said conditions.

②The conditions as provided for in the preceding paragraph must be limited to the minimum required to ensure appropriate operations for a Real Estate business and secure the fairness of Real Estate transactions and must not impose improper obligations on a person obtaining the license.

①A person intending to obtain a license as provided for in paragraph (1) of Article 3 must submit a license application form on which matters as listed below are stated, if the person intends to engage in said business upon establishing business offices within zones in two or more prefectures, said person must apply to the Minister of Land, Infrastructure, Transport and Tourism or, if the person intends to engage in said business upon establishing business offices within zones in a single prefecture only, to the governor of the prefecture with jurisdiction over the locations of said business offices:

②The documents listed in the following items must be attached to a license application form as provided for in the preceding paragraph:

①License must not be granted by the Minister of Land, Infrastructure, Transport and Tourism or a prefectural governor if a person intending to obtain a license as provided for in Article 3, paragraph (1), falls under any of the following items or if a false statement concerning important information has been made or, an entry of important facts has been omitted from the license application form or a document attached thereto:

②If no license is to be granted, the Minister of Land, Infrastructure, Transport and Tourism or the prefectural governor must provide written notification of the fact thereof to which an applicable reason has been appended to the applicant.

If a license as provided for in Article 3, paragraph (1), has been granted, the Minister of Land, Infrastructure, Transport and Tourism or the prefectural governor must issue a license certificate.

①If a Real Estate Broker who has obtained a license as provided for in Article 3, paragraph (1), and who intends to continue engaging in the Real Estate Brokerage falling under any of the following items, when that person obtains a license granted by the Minister of Land, Infrastructure, Transport and Tourism or a prefectural governor, the previous license granted to the person by the Minister of Land, Infrastructure, Transport and Tourism or the prefectural governor is to cease to be effective:

②If a Real Estate Broker falls under any of the items of the preceding paragraph and intends to continue engaging in the Real Estate Brokerage, the provisions of Article 3, paragraph (4), apply mutatis mutandis when an application under the provisions of Article 4, paragraph (1), is made.

①The Ministry of Land, Infrastructure, Transport and Tourism and each prefectural government are to maintain its respective register of Real Estate Brokers.

②The Minister of Land, Infrastructure, Transport and Tourism must record the following matters pertaining to any Real Estate Broker to whom it has granted a license in its register of Real Estate Brokers and the governor of a prefecture must record the matters as listed below pertaining to any Real Estate Broker to whom it has granted a license and any Real Estate Broker who has obtained a license from the Minister of Land, Infrastructure, Transport and Tourism and who has business offices primarily within zones in said prefecture in its register of Real Estate Brokers:

①If there has been a change to a matter as listed in any of items (i) through (v) of Article 4, paragraph (1), the Real Estate Broker must, pursuant to the provisions of an Order of the Ministry of Land, Infrastructure, Transport and Tourism, submit a written notification stating the matters pertaining to said change to the Minister of Land, Infrastructure, Transport and Tourism or the prefectural governor from whom the applicable license was obtained within thirty days.

②The provisions of Article 4, paragraph (2) (excluding items (i), (vi), and (vii); the same applies hereinafter in this paragraph) apply mutatis mutandis to the written notification referred to in the preceding paragraph; provided, however, that if there has been no change to the contents of the documents referred to in paragraph (2) of that Article that have already been submitted to the Minister of Land, Infrastructure, Transport and Tourism or a prefectural governor, the attachment of those documents may be omitted.

The Minister of Land, Infrastructure, Transport and Tourism or a prefectural governor must, pursuant to the provisions of an Order of the Ministry of Land, Infrastructure, Transport and Tourism, make the register of Real Estate Brokers and the documents as listed in Article 4, paragraph (2), item (i), items (iii) through (v) of that paragraph (including as applied mutatis mutandis pursuant to paragraph (2) of the preceding Article), and Article 4, paragraph (2), items (vi) and (vii) (referred to as "Specified Documents" in Article 78-3, paragraph (1)), or copies thereof, available for public inspection.

①If a Real Estate Broker falls under any of the following items, the person corresponding to the applicable item must provide a notification of the fact thereof to the Minister of Land, Infrastructure, Transport and Tourism or the prefectural governor from whom the applicable license was obtained within thirty days of the applicable date (for item (i), the date on which the fact corresponding thereto becomes known):

②If a notification has been submitted pursuant to the provisions of any of items (iii) through (v) of the preceding paragraph, the license as provided for in Article 3, paragraph (1), ceases to be effective.

①A person who has not obtained a license as provided for in Article 3, paragraph (1), is not to engage in Real Estate Brokerage.

②A person who has not obtained a license as provided for in Article 3, paragraph (1), is not to provide any indication to the effect that the person engages in Real Estate Brokerage or advertise for the purpose of engaging in Real Estate Brokerage.

①A Real Estate Broker must not have another person engage in the Real Estate Brokerage under the name of said Real Estate Broker.

②A Real Estate Broker is not to have another person provide any indication to the effect that the person engages in Real Estate Brokerage or advertises for the purpose of engaging in Real Estate Brokerage under the name of said Real Estate Broker.

In addition to what is as prescribed in Articles 3 through 11, required particulars concerning license applications, the issuance of license certificates, the issuance of replacement certificates, the re-issuance and return of license certificates, and the recording of entries to, correction of entries in, and deletion of entries from a register of Real Estate Brokers are as specified by an applicable Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism.

When engaging in the operations of Real Estate Brokerage, a real estate transaction specialist must, as an expert in dealings in Building Lots or buildings, perform the affairs provided for in this Act fairly and in good faith so as to contribute to the protection of the profits of buyers, etc. and to the smooth distribution of Building Lots or buildings, and must endeavor to cooperate with persons engaged in operations related to Real Estate Brokerage.

A real estate transaction specialist must not engage in any act that would damage the credibility or dignity of real estate transaction specialists.

A real estate transaction specialist must endeavor to maintain and improve the knowledge and abilities necessary for the affairs pertaining to transactions involving Building Lots or buildings.

①A prefectural governor must administer a qualifications Examination for real estate transaction specialists (hereinafter referred to as "Examination") pursuant to the provisions of an Order of the Ministry of Land, Infrastructure, Transport and Tourism.

②An Examination is to be administered to test the required knowledge concerning Real Estate Brokerage.

③A person who has obtained a registration with the Minister of Land, Infrastructure, Transport and Tourism pursuant to the provisions of Articles 17-3 through 17-5 (hereinafter referred to as "Registered Training Agency") and who has completed a course on training to be provided as specified by an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism (hereinafter referred to as "Registered Training") is exempted from part of the Examination as specified by an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism.

①A prefectural governor may have a person designated by the Minister of Land, Infrastructure, Transport and Tourism engage in processes relating to the administration of an Examination (hereinafter referred to as "Examination Processes").

②The designation under the preceding paragraph is made through the application of a person intending to engage in Examination Processes.

③A prefectural governor is not to engage in Examination Processes if a person designated by the Minister of Land, Infrastructure, Transport and Tourism pursuant to the provisions of paragraph (1) is to engage in Examination Processes.

①Unless the Minister of Land, Infrastructure, Transport and Tourism deems an application under paragraph (2) of the preceding article to be in compliance with the following items, said minister is not to make a designation under paragraph (1) of the same article:

②If a person who has submitted an application under paragraph (2) of the preceding article falls under any of the following items, the Minister of Land, Infrastructure, Transport and Tourism is not to make a designation under paragraph (1) of the same article:

①If the Minister of Land, Infrastructure, Transport and Tourism grants a designation under Article 16-2, paragraph (1), said minister must issue a public notice of the name of the designated person, location of the principal business office thereof, and date of said designation.

②If a person for whom a designation under Article 16-2, paragraph (1), has been made (hereinafter referred to as "Designated Examination Body") intends to change the name or location of the principal business office thereof, the person must notify the fact thereof to the Minister of Land, Infrastructure, Transport and Tourism by no later than two weeks prior to the intended date of said change.

③If a notification under the preceding paragraph is filed, the Minister of Land, Infrastructure, Transport and Tourism must issue a public notification of the fact thereof.

①A prefectural governor who has delegated their Examination Processes to a Designated Examination Body pursuant to the provisions of Article 16-2, paragraph (1), (hereinafter referred to as "Delegating Prefectural Governor") must issue a public notice of the name of said Designated Examination Body, location of the principal business office thereof, location of the business office thereof handling said Examination Processes, and date of the delegation of Examination Processes to said Designated Examination Body.

②If a Designated Examination Body intends to change the name, location of the principal business office, or location of the business office handling Examination Processes thereof, the Designated Examination Body must notify the fact thereof to the Delegating Prefectural Governor (relevant Delegating Prefectural Governor for the location of the business office handling Examination Processes) by no later than two weeks prior to the intended date of said change.

③If a notification under the preceding paragraph is filled, the Delegating Prefectural Governor must issue a public notice of the fact thereof.

①Appointment or dismissal of an officer of a Designated Examination Body will take effect unless approved by the Minister of Land, Infrastructure, Transport and Tourism.

②If an officer of a Designated Examination Body engages in conduct contravening this Act (including an order or disposition based on this Act) or the regulations governing Examination Processes as provided for in Article 16-9, paragraph (1), or engages in considerably inappropriate conduct in connection with Examination Processes, the Minister of Land, Infrastructure, Transport and Tourism may order the Designated Examination Body to dismiss said officer.

①A Designated Examination Body must appoint qualification examiners for real estate transaction specialists (hereinafter referred to as "examiners") from among persons satisfying requirements as specified by Order of the Ministry of Land, Infrastructure, Transport and Tourism and have them prepare and mark Examination questions.

②If an examiner as provided for in the preceding paragraph is appointed or dismissed, the Designated Examination Body must, without delay, notify the fact thereof to the Minister of Land, Infrastructure, Transport and Tourism.

③The provisions of paragraph (2) of the preceding article apply mutatis mutandis to the dismissal of an examiner as provided for in paragraph (1).

①No officer or employee of a Designated Examination Body (including an examiner as provided for in paragraph (1) of the preceding article; the same applies in the following paragraph) or person who was formerly in such a position is to leak confidential information obtained concerning Examination Processes.

②With respect to the application of the Penal Code or any other penal provisions, officers and employees of a Designated Examination Body engaging in Examination Processes are deemed to be an officials engaged in public services under laws.

①A Designated Examination Body must prescribe the regulations governing Examination Processes concerning matters relating to the conducting of Examination Processes as specified by an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism and have them approved by the Minister of Land, Infrastructure, Transport and Tourism. The same applies when a Designated Examination Body intends to revise said regulations.

②If a Designated Examination Body intends to revise regulations governing Examination Processes pursuant to the provisions of the second sentence of the preceding paragraph, it must hear the opinions of the Delegating Prefectural Governor.

③The Minister of Land, Infrastructure, Transport and Tourism may, when deems that the regulations governing Examination Processes as approved pursuant to the provisions of paragraph (1) have become inappropriate for the proper and reliable conducting of Examination Processes, order the Designated Examination Body to revise said regulations.

①A Designated Examination Body must prepare a business plan, as well as a revenue and expenditure budget each business year and have them approved by the Minister of Land, Infrastructure, Transport and Tourism prior to the commencement of the corresponding business year (or, for the business year in which falls the date on which a designation was obtained under Article 16-2, paragraph (1), without delay upon obtaining said designation). The same applies when a Designated Examination Body intends to revise said business plan or revenue or expenditure budget.

②If a Designated Examination Body intends to prepare or revise a business plan or revenue and expenditure budget, it must hear the opinions of the Delegating Prefectural Governor.

③A Designated Examination Body must prepare a business report and statement of accounts each business year and submit them to the Minister of Land, Infrastructure, Transport and Tourism and the Delegating Prefectural Governor within three months after the end of the corresponding business year.

A Designated Examination Body must, as specified by an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism, prepare books in which matters that relate to Examination Processes and that are specified by an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism are stated and retain said books.

①If the Minister of Land, Infrastructure, Transport and Tourism deems it necessary to secure proper conducting of Examination Processes, said minister may issue an order required for supervision in connection with Examination Processes to a Designated Examination Body.

②If a Delegating Prefectural Governor deems it necessary to secure the proper conducting of their entrusted Examination Processes, said governor may issue instructions to have measures required for the proper conducting of Examination Processes to a Designated Examination Body.

①If the Minister of Land, Infrastructure, Transport and Tourism deems it necessary to secure the proper conducting of Examination Processes, said minister may request required reports on the status of Examination Processes from a Designated Examination Body or have said ministers officials enter the business office of the Designated Examination Body and inspect the status of Examination Processes or the equipment, books, documents, and other materials and articles of the Designated Examination Body.

②If a Delegating Prefectural Governor deems it necessary to secure the proper conducting of their entrusted Examination Processes, said governor may request required reports on the status of Examination Processes from a Designated Examination Body or have said governors officials enter the business office of the Designated Examination Body handling said Examination Processes and inspect the status of Examination Processes or the equipment, books, documents, and other materials and articles of the Designated Examination Body.

③An official conducting an on-site inspection pursuant to the provision of paragraph (1) or the preceding paragraph must carry personal identification, and present said identification if requested to do so by a concerned person.

④The authority to conduct an on-site inspection under paragraph (1) or (2) must not be interpreted as having been accorded for the purpose of a criminal investigation.

①A Designated Examination Body must not suspend or discontinue Examination Processes in whole or in part unless the permission of the Minister of Land, Infrastructure, Transport and Tourism is obtained.

②The Minister of Land, Infrastructure, Transport and Tourism is not to grant permission under the preceding paragraph unless it can be deemed that there is no risk that the suspension or abolition of Examination Processes in whole or in part by the Designated Examination Body will impede the proper and reliable conducting of Examination Processes.

③If the Minister of Land, Infrastructure, Transport and Tourism intends to grant permission under paragraph (1), said minister must hear the opinions of the relevant Delegating Prefectural Governor.

④If the Minister of Land, Infrastructure, Transport and Tourism has granted permission under paragraph (1), said minister must notify the fact thereof to the relevant Delegating Prefectural Governor and issue a public notice of the fact thereof.

①If a Designated Examination Body comes to fall under any of the items listed in Article 16-3, paragraph (2), (excluding item (iii)), the Minister of Land, Infrastructure, Transport and Tourism must rescind the designation of said Designated Examination Body.

②If a Designated Examination Body falls under any of the following items, the Minister of Land, Infrastructure, Transport and Tourism may rescind the designation of said Designated Examination Body or order said Designated Examination Body to suspend Examination Processes in whole or in part for a prescribed period:

③In holding a hearing pertaining to a disposition under either of the preceding two paragraphs, the Minister of Land, Infrastructure, Transport and Tourism must provide a notification under Article 15, paragraph (1) of the Administrative Procedure Act (Act No. 88 of 1993) and issue a public notice of the date and location of the hearing by no later than one week prior to the date thereof.

④If a notification as provided for in the preceding paragraph is to be made according to a method as prescribed in Article 15, paragraph (3) of the Administrative Procedure Act, the reasonable period of time to be provided prior to the date of the hearing pursuant to the provisions of paragraph (1) of the same article must not be less than two weeks in length.

⑤Proceedings on the date of the hearing as provided for in paragraph (3) must be open to the public.

⑥If the Minister of Land, Infrastructure, Transport and Tourism carries out a disposition under paragraph (1) or (2), said minister must notify the fact thereof to the relevant Delegating Prefectural Governor and issue a public notice of the fact thereof.

①If a Delegating Prefectural Governor determines that a Designated Examination Body will no longer conduct Examination Processes, said governor must provide notification of the fact thereof to the Designated Examination Body by no later than three months prior thereto.

②If a Delegating Prefectural Governor determines that a Designated Examination Body has chosen to no longer conduct Examination Processes, said governor must issue a public notice of the fact thereof.

①If a Designated Examination Body suspends Examination Processes in whole or in part pursuant to the provisions of Article 16-14, paragraph (1); if the Minister of Land, Infrastructure, Transport and Tourism issues an order to a Designated Examination Body to suspend Examination Processes in whole or in part pursuant to the provisions of Article 16-15, paragraph (2); or if it has become difficult for a Designated Examination Body to conduct Examination Processes in whole or in part due to a natural disaster or for other reasons; the Delegating Prefectural Governor is to conduct said Examination Processes in whole or in part notwithstanding the provisions of Article 16-2, paragraph (3).

②If a Delegating Prefectural Governor is to conduct Examination Processes pursuant to the provisions of the preceding paragraph or if the reason for the conducting of Examination Processes by the Delegating Prefectural Governor pursuant to the provisions of the same paragraph no longer applies, the Minister of Land, Infrastructure, Transport and Tourism must promptly provide notification of the fact thereof to said Delegating Prefectural Governor.

③If a Delegating Prefectural Governor receives a notification under the preceding paragraph, said governor must issue a public notice of the fact thereof.

The succession of Examination Processes and other required matters applicable in the event that a Delegating Prefectural Governor is to conduct Examination Processes pursuant to the provisions of paragraph (1) of the preceding article, in the event that the Minister of Land, Infrastructure, Transport and Tourism grants permission to discontinue Examination Processes pursuant to the provisions of Article 16-14, paragraph (1), or rescinds a designation pursuant to the provisions of Article 16-15, paragraph (1) or (2), or in the event that a Delegating Prefectural Governor determines that said governor will not have Examination Processes conducted by a Designated Examination Body is to be as specified by an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism.

If a fee pertaining to Examinations is to be collected pursuant to the provisions of Article 227 of the Local Autonomy Act (Act No. 67 of 1947), a prefecture may, as specified by an Ordinance, have a person intending to take an Examination administered by a Designated Examination Body pursuant to the provisions of Article 16-2 pay said fee to said Designated Examination Body and treat said fee as revenue accruing thereto.

①A prefectural governor may rescind the decision that such a person has passed who has taken or attempted to take an Examination by unlawful means or ban said person from taking said Examination.

②A Designated Examination Body may exercise the authority of a Delegating Prefectural Governor as prescribed in the preceding paragraph.

③A prefectural governor may, when circumstances warrant, identify a person subject to disposition under the preceding two paragraphs as someone who may not take an Examination for a prescribed period of time not exceeding three years.

A request for review may be made to the Minister of Land, Infrastructure, Transport and Tourism against a disposition pertaining to Examination Processes carried out by a Designated Examination Body or its omission to act. In this case, the Minister of Land, Infrastructure, Transport and Tourism is deemed to be the higher administrative agency of the Designated Examination Body with regard to the application of the provisions of Article 25, paragraphs (2) and (3), Article 46, paragraphs (1) and (2), Article 47, and Article 49, paragraph (3) of the Administrative Complaint Review Act (Act No. 68 of 2014).

Registration as provided for in Article 16, paragraph (3), is carried out by way of the application of a person intending to engage in operations relating to the administration of Registered Training (hereinafter referred to as "Training Course Operations").

A person falling under any of the following items may not obtain a registration as provided for in Article 16, paragraph (3):

①If Registered Training to be administered by a person who has applied for registration pursuant to the provisions of Article 17-3 is to be administered by an instructor as listed in the right column of the Appended Table corresponding to a course as listed in the left column thereof, the Minister of Land, Infrastructure, Transport and Tourism must carry out said registration. In such a case, procedures required concerning a registration is to be as specified by an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism.

②A registration is to be carried out by stating the matters as listed below in a registry of Registered Training Agencies:

①A registration as provided for in Article 16, paragraph (3), will cease to be effective upon the expiration of a period of not less than three years as specified by Cabinet Order unless renewed each time at said frequency.

②The provisions of the preceding three articles apply mutatis mutandis to the renewal of a registration as provided for in the preceding paragraph.

A Registered Training Agency must carry out Training Course Operations fairly, and by a method that conforms to standards as prescribed in the provisions of Article 17-5, paragraph (1), and as specified by an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism.

If a Registered Training Agency intends to change a particular as listed in any of items (ii) through (iv) in Article 17-5, paragraph (2), said change must be notified of the fact thereof to the Minister of Land, Infrastructure, Transport and Tourism by no later than two weeks prior to the date on which said change is intended to be made.

①A Registered Training Agency must prescribe regulations governing Training Course Operations (hereinafter referred to as "Regulations Governing Training Course Operations") and provide a notification thereof to the Minister of Land, Infrastructure, Transport and Tourism prior to the commencement of Training Course Operations. The same applies when a Registered Training Agency intends to revise said regulations.

②The method by which Registered Training will be administered, fees relating to Registered Training, and other matters as specified by an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism must be as specified in the Regulations Governing Training Course Operations.

If a Registered Training Agency intends to suspend or discontinue Training Course Operations in whole or in part, it must, as specified by an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism, provide a notification of the fact thereof in advance to the Minister of Land, Infrastructure, Transport and Tourism.

①A Registered Training Agency must prepare, within three months after the end of each business year, an inventory of property, balance sheet, income statement, statement of receipts and disbursements, and business report for said business year ( this includes electronic or magnetic records (meaning records used in computer data processing, which are created in electronic form, magnetic form, or any other form that cannot be perceived by the human senses; hereinafter the same applies in this Article)if electronic records are prepared in lieu of such written documents; referred to hereinafter in the next paragraph and Article 85-2 as "Financial Statements") and keep said documents at a business office of the Registered Training Agency for a period of five years.

②A person intending to undergo Registered Training or another interested person may make any of the following requests at any time during the operating hours of a Registered Training Agency. Provided, however, that prescribed fees of the Registered Training Agency must be paid when making a request as provided for in item (ii) or (iv).

If the Minister of Land, Infrastructure, Transport and Tourism deems that a Registered Training Agency no longer conforms to the provisions of Article 17-5, paragraph (1), said minister may order said Registered Training Agency to take measures required to ensure conformity with the provisions of the same paragraph.

If the Minister of Land, Infrastructure, Transport and Tourism deems that a Registered Training Agency has contravened the provisions of Article 17-7, said minister may order said Registered Training Agency to carry out Training Course Operations under Article 17-7 or take measures required for the amelioration of the method by which Registered Training is carried out or any other operational method.

If a Registered Training Agency falls under any of the following items, the Minister of Land, Infrastructure, Transport and Tourism may rescind the registration thereof or order the suspension of Training Course Operations in whole or in part for a prescribed period:

A Registered Training Agency must, as specified by an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism, prepare books, enter particulars concerning Training Course Operations as specified by an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism therein, and retain said books.

If the Minister of Land, Infrastructure, Transport and Tourism deems it necessary for maintaining the proper conducting of Training Course Operations, said minister may submit a request for a report required in connection with the status of Training Course Operations to a Registered Training Agency.

①If the Minister of Land, Infrastructure, Transport and Tourism deems it necessary for maintaining the proper conducting of Training Course Operations, said minister may have officials enter the business office of a Registered Training Agency and inspect the status of Training Course Operations or the equipment, books, documents, and other materials and objects of the Registered Training Agency.

②An official conducting an on-site inspection pursuant to the provisions of the preceding paragraph must carry personal identification and present said identification if requested to do so by a concerned person.

③The authority to conduct an on-site inspection under paragraph (1) must not be interpreted as having been accorded for the purpose of a criminal investigation..

The Minister of Land, Infrastructure, Transport and Tourism must, in the following cases, issue a public notice of the fact thereof in the Official Gazette:

①A person who passes an Examination and who has practical experience of a term equal to or greater than a term as specified by an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism or who is deemed by the Minister of Land, Infrastructure, Transport and Tourism to possess skills of a level that is at least equal to that of a person with said practical experience may, pursuant to the provisions of an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism, obtain a registration from the prefectural governor who administered said Examination. Provided, however, that this does not to apply to a person who falls under any of the following items:

②A registration as provided for in the preceding paragraph is to be carried out by a prefectural governor by stating the name, date of birth, address, other particulars as specified by Order of the Ministry of Land, Infrastructure, Transport and Tourism, registration number, and date of registration in a registry of real estate transaction specialists.

①A person who is entitled to obtain a registration as provided for in paragraph (1) of the preceding article and who intends to obtain said registration must submit a registration application form to the prefectural governor as provided for in the same paragraph.

②If a registration application form as provided for in the preceding paragraph is received, a prefectural governor must carry out the registration without delay.

If a person who has obtained a registration as provided for in Article 18, paragraph (1), engages in or intends to engage in operations of the business office of a Real Estate Broker situated in a prefecture other than the prefecture under the jurisdiction of the prefectural governor who carried out said registration, said person can submit an application for a registration transfer to the prefectural governor with jurisdiction over the location of said business office through the prefectural governor who carried out said registration. Provided, however, that this is not to apply if said person has been subject to a disposition of prohibition under Article 68, paragraph (2) or (4), and the period thereof has not yet expired.

If there has been a change to a particular subject to said registration, a person who has obtained a registration as provided for in Article 18, paragraph (1), must apply for a registration of change without delay.

If a person who has obtained a registration as provided for in Article 18, paragraph (1), comes to fall under any of the following items, the person as specified in the applicable item must provide a notification of the fact thereof to the prefectural governor who carried out said registration within thirty days of the applicable date (for item (i), the date on which the fact corresponding thereto becomes known):

A prefectural governor must delete a registration as provided for in Article 18, paragraph (1) if a case falls under any of the following items:

①A person who has obtained a registration as provided for in Article 18, paragraph (1), may submit an application for the issuance of a real estate Transaction Specialist Identification Card to the prefectural governor who carried out said registration.

②A person intending to receive a real estate Transaction Specialist Identification Card must undergo, within six months prior to the application for issuance, a course designated pursuant to the provisions of an Order of the Ministry of Land, Infrastructure, Transport and Tourism by the prefectural governor who carried out the registration thereof. Provided, however, that this is not to apply to a person who intends on receiving a real estate Transaction Specialist Identification Card within one year after the date on which said person passes an Examination or to a person who intends on receiving a real estate Transaction Specialist Identification Card as prescribed in paragraph (5).

③The period of validity of a real estate Transaction Specialist Identification Card (excluding a real estate Transaction Specialist Identification Card issued pursuant to the provisions of paragraph (5)) is to be five years.

④If a registration is transferred pursuant to the provisions of Article 19-2 after a real estate Transaction Specialist Identification Card has been issued, said real estate Transaction Specialist Identification Card ceases to be effective.

⑤If an application for the issuance of a real estate Transaction Specialist Identification Card is made together with an application for the transfer of a registration in a case as prescribed in the preceding paragraph, the post-transfer prefectural governor must issue a real estate Transaction Specialist Identification Card for which the period up to the expiration of the period of validity of the real estate Transaction Specialist Identification Card as provided for in the preceding paragraph is to be treated as the period of validity.

⑥If a registration as provided for in Article 18, paragraph (1), is deleted or a real estate Transaction Specialist Identification Card ceases to be effective, a real estate transaction specialist must promptly return said real estate Transaction Specialist Identification Card to the prefectural governor that issued said real estate Transaction Specialist Identification Card.

⑦If a real estate transaction specialist is subject to disposition by suspension under Article 68, paragraph (2) or (4), said specialist must promptly submit their real estate Transaction Specialist Identification Card to the prefectural governor that issued said real estate Transaction Specialist Identification Card.

⑧A prefectural governor who has received a real estate Transaction Specialist Identification Card that was submitted pursuant to the provisions of the preceding paragraph must promptly return said real estate Transaction Specialist Identification Card, if a request for the return thereof is received from the submitting party in a case in which the period of prohibition as provided for in the same paragraph expires.

①The period of validity of a real estate Transaction Specialist Identification Card is to be renewed by submitting an application.

②The provisions of the main clause of paragraph (2) of the preceding article apply mutatis mutandis to a person intending to renew the period of validity of a real estate Transaction Specialist Identification Card and the provisions of paragraph (3) of the same article apply mutatis mutandis to the period of validity of a renewed real estate Transaction Specialist Identification Card.

If a person concerned with transactions makes a request, a real estate transaction specialist must present their real estate Transaction Specialist Identification Card.

In addition to what is prescribed in this chapter, required particulars in connection with Examinations, Registered Training, Registered Training Agencies, Designated Examination Bodies, registrations as provided for in Article 18, paragraph (1), transfers thereof, and real estate Transaction Specialist Identification Cards are to be as specified by Order of the Ministry of Land, Infrastructure, Transport and Tourism.

①A Real Estate Broker must deposit a security deposit for operations with the official depository located nearest to its principal business office.

②The amount of security deposit for operations as provided for in the preceding paragraph is to be an amount as specified by Cabinet Order upon taking into account the conditions of transactions carried out by the Real Estate Broker and the protection of the interests of parties with whom the Real Estate Broker is engaged in transactions for the principal business office and other business offices on an office-by-office basis.

③Government bond certificates, local bond certificates, and other negotiable security certificates as specified by an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism (including transfer bonds as prescribed in Article 278, paragraph (1) of the Act on Book-Entry Transfer of Company Bonds, Shares (Act No. 75 of 2001)) may, pursuant to the provisions of an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism, be allocated to the security deposit for operations as provided for in paragraph (1).

④If a Real Estate Broker deposits a security deposit for operations, the Real Estate Broker must attach a copy of the documents of a deposit in which the acceptance of the deposit is stated, and provide notification of the fact thereof to the Minister of Land, Infrastructure, Transport and Tourism or prefectural governor from whom the license was obtained.

⑤A Real Estate Broker is not to commence its business unless a notification under paragraph (4) has been made.

⑥If a Real Estate Broker does not provide a notification under paragraph (4) within three months of the date on which a license as provided for in Article 3, paragraph (1) is granted, the Minister of Land, Infrastructure, Transport and Tourism or prefectural governor must provide notice of the fact that said notification should be made.

⑦If a Real Estate Broker does not provide a notification under paragraph (4) within one month of the date on which the notice as provided for in the preceding paragraph is arrived, the Minister of Land, Infrastructure, Transport and Tourism or prefectural governor may rescind the license thereof.

⑧If a Cabinet Order is to be enacted, revised, or abolished based on the provisions of paragraph (2), required transitional measures (including measures required for the supervision of transitional measures) concerning additional deposits and the recovery of a security deposit for operations may be specified by said Cabinet Order.

①If a Real Estate Broker establishes a new business office after the commencement of business (such as where a business office is expanded in a case falling under any of the items listed in Article 7, paragraph (1)), the Real Estate Broker must deposit a security deposit for operations in the amount as specified by Cabinet Order under paragraph (2) of the preceding article for said business office.

②The provisions of paragraph (1) and paragraphs (3) through (5) of the preceding article apply mutatis mutandis to a case in which a deposit is made pursuant to the provisions of the preceding paragraph.

①A person engaged in a transaction in connection with Real Estate Brokerage with a Real Estate Broker (excluding a person who is a Real Estate Broker) has the right to receive a payment of a claim on the security deposit for operations deposited by the Real Estate Broker in connection with a claim arising from said transaction.

②Any matters required in connection with the exercising of the right as provided for in the preceding paragraph are as specified by an Ordinance of the Ministry of Justice and an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism.

①If the security deposit for operations falls short of the amount as specified by Cabinet Order under Article 25, paragraph (2), as a result of a person exercising their right as provided for in paragraph (1) of the preceding article of said right, a Real Estate Broker must deposit the amount of said shortfall within two weeks of the date as specified by an Ordinance of the Ministry of Justice and an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism.

②If a Real Estate Broker deposits a security deposit for operations pursuant to the provisions of the preceding paragraph, the Real Estate Broker must attach a copy of the documents of the deposit, in which the acceptance of the deposit is stated and provide a notification of the fact thereof to the Minister of Land, Infrastructure, Transport and Tourism or prefectural governor from whom its license was obtained within two weeks.

③The provisions of Article 25, paragraph (3), apply mutatis mutandis to a case in which a deposit is made pursuant to the provisions of paragraph (1).

①If the nearest official depository is changed as a result of the relocation of the principal office of a Real Estate Broker, the Real Estate Broker if a security deposit for operations has been deposited with cash only, must pay costs in advance and submit a request for the transfer of the security deposit for operations to the official depository located nearest to its relocated principal business office to the deposit office to which the security deposit for operations was deposited without delay pursuant to the provisions of an Ordinance of the Ministry of Justice and an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism or, in any other case, newly deposit the security deposit for operations with the official depository located nearest to its relocated principal business office without delay.

②The provisions of Article 25, paragraphs (2) and (3), apply mutatis mutandis to a case in which a deposit is made pursuant to the provisions of the preceding paragraph.

①If the period of validity as provided for in Article 3, paragraph (2) (including, in a case as prescribed in paragraph (4) of the same article, the term that is deemed to be still in effect pursuant to the provisions of the same paragraph; the same applies in Article 76) expires; a license ceases to be effective pursuant to the provisions of Article 11, paragraph (2); circumstances come to fall under paragraph (1), item (i) or (ii) of the same article; or a license is rescinded pursuant to the provisions of Article 25, paragraph (7); Article 66; or Article 67, paragraph (1), a Real Estate Broker or the successor thereof (excluding any person deemed to be a Real Estate Broker pursuant to the provisions of Article 76) may recover the security deposit for operations deposited by the person constituting said Real Estate Broker. The same apply to the amount by which the security deposit for operations exceeds the amount as specified by Cabinet Order as provided for in Article 25, paragraph (2), where that Real Estate Broker eliminates some business offices as well as to the excess security deposit for operations deposited to the official depository located nearest to the principal business office of that Real Estate Broker prior to its relocation where said security deposit for operations was deposited thereby pursuant to the provisions of paragraph (1) of the preceding article.

②The security deposit for operations as provided for in the preceding paragraph (excluding the recovery of a security deposit for operations deposited with the official depository located nearest to the principal business office prior to relocation where said security deposit for operations was deposited pursuant to the provisions of paragraph (1) of the preceding article) cannot be recovered unless a public notice calls upon persons who have the right, as provided for in Article 27, paragraph (1), with respect to said security deposit for operations to make a notification within a fixed period of no less than six months is made and said notification is not made within said period. Provided, however, that this does not apply upon the passage of ten years since the occurrence of grounds for enabling the recovery of security deposit for operations.

③The public notice as provided for in the preceding paragraph and other matters required in connection with the recovery of a security deposit for operations are to be as specified by an Ordinance of the Ministry of Justice and an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism.

①A Real Estate Broker must carry out its operations for persons concerned with transactions in, and accordance with the principle of good faith.

②In engaging in entrustment-based agency services for transactions, etc., and other such functions as prescribed in Article 50-2, paragraph (1), a Real Estate Broker must take into account the need to promote restrictions on speculative transactions.

A Real Estate Broker must endeavor to provide its workers with the education necessary to have them carry out its operations properly.

①A Real Estate Broker must appoint adult, exclusive real estate transaction specialists in the number specified by an Order of the Ministry of Land, Infrastructure, Transport and Tourism in consideration of the size of each Business Office, etc., the contents of operations, and other factors to each office thereof and any other location as specified by an Order of the Ministry of Land, Infrastructure, Transport and Tourism (referred to hereinafter in this Article and Article 50, paragraph (1), as a "Business Office, etc.").

②If a Real Estate Broker (any officer (executive member, director, executive officer, or any other person similar thereto who executes operations for the corporation) of said Real Estate Broker, if said Real Estate Broker is a corporation) is a real estate transaction specialist in a case referred to in the preceding paragraph, the person will be deemed, for the Business Office, etc., at which the person personally and primarily engages in duties, to be the adult, exclusive real estate transaction specialist appointed thereto.

③A Real Estate Broker may not establish a Business Office, etc., that contravenes the provisions of paragraph (1) and must take measures required to ensure compliance with the provisions of the same paragraph within two weeks, when an existing Business Office, etc., contravenes the provisions of the same paragraph.

If a Real Estate Broker advertises concerning the operations thereof, the Real Estate Broker, with respect to the location, size, characteristics, or restrictions on the present or future usage of a Building Lot or building pertaining to said advertising; the environment, transportation, and other matters relating to convenience as they pertain thereto; the amounts and methods for the payment of the price, rents, and other consideration as they pertain thereto; and any mediation for monetary loans relating to the price or difference arising from the exchange of property, must not give an indication that significantly contradicts the facts or that which mislead others to believe that conditions are significantly more favorable than they really are or are advantageous.

Prior to the completion of construction work relating to the development of a Building Lot or the construction of a building, a Real Estate Broker is not to sell a Building Lot or building or engage in advertising tied to other operations subject to said construction work unless such permission as provided for in Article 29, paragraph (1) or (2) of the Urban Planning Act, verification as provided for in Article 6, paragraph (1) of the Building Standards Act (Act No. 201 of 1950), or any other permission or disposition based on a law or regulation required in connection with said construction work that is as specified by Cabinet Order has been granted.

A Real Estate Broker is not to conclude a sales agreement (including a reservation) under which the Real Estate Broker will constitute the seller of a Building Lot or building that it does not own. Provided, however, this does not apply in a case falling under either of the following items:

①If a Real Estate Broker advertises in connection with the sale, exchange, or loan of a Building Lot or building, the Real Estate Broker must clearly state whether it effects the said sale or exchange as a party concerned to the applicable agreement; effect said sale, exchange, or loan as an agent; or effect said sale, exchange, or loan as an intermediary (referred to hereinafter in the following paragraph as "Mode of Transaction").

②If a Real Estate Broker receives an order for the sale, exchange, or loan of a Building Lot or building, the Real Estate Broker must, without delay, clarify the terms of Mode of Transaction for the ordering party.

①If a Real Estate Broker concludes an agreement for mediating a sale or exchange of a Building Lot or building (referred to hereinafter in this article as "Mediation Agreement"), the Real Estate Broker must, without delay, prepare a document in which the matters as listed below are stated, affix the name and seal of the Real Estate Broker thereto, and issue said document to the requesting party:

②If a Real Estate Broker states an opinion regarding a price or appraised value as provided for in item (ii) of the preceding paragraph, the Real Estate Broker must clarify the basis on which said opinion is made.

③The effective term of a Mediation Agreement that prohibits a requesting party from making a request to have another Real Estate Broker provide mediation or agency services for a sale or exchange (hereinafter referred to as "Exclusive Mediation Agreement") may not exceed three months. Any prescribed period longer than this is deemed to be three months.

④The effective term as provided for in the preceding paragraph may be renewed by the submission of an application by the requesting party. Provided, however, that the effective term as extended may not exceed three months from the time of renewal.

⑤If a Real Estate Broker concludes an Exclusive Mediation Agreement; the Real Estate Broker must, pursuant to the provisions of an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism, register the location, size, and characteristics of a Building Lot or building subject to said Exclusive Mediation Agreement; the price at which said Building Lot or building should be sold; and other matters as specified by an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism with a person designated by the Minister of the Ministry of Land, Infrastructure, Transport and Tourism (hereinafter referred to as the "Real Estate Information Network System") in order to facilitate searches of agreement counterparties.

⑥A Real Estate Broker that carries out a registration under the preceding paragraph must, without delay, deliver a document attesting to said registration as prescribed in Article 50-6 to the requesting party.

⑦If a Real Estate Broker as provided for in the preceding paragraph concludes an agreement for selling or exchanging a Building Lot or building pertaining to a registration under paragraph (5), the Real Estate Broker must, without delay and pursuant to the provisions of an Ordinance of the Ministry of Land, Infrastructure, Transport and Tourism, provide notification of the fact thereof to the Real Estate Information Network System pertaining to said registration.

⑧When an application is made for the sale or exchange of a Building Lot or building that is subject to a Mediation Agreement, the Real Estate Broker that has concluded said Mediation Agreement must report the fact thereof to the requesting party without delay.

⑨In addition to what is provided for in the preceding paragraph, a Real Estate Broker that has concluded an Exclusive Mediation Agreement must submit a report on the processing status of operations pertaining to said Exclusive Mediation Agreement to the requesting party at least once every two weeks (or at least once a week for an Exclusive Mediation Agreement that includes special provisions to the effect that the requesting party is unable to conclude an agreement for sale or exchange with a person other than a counterparty searched by said Real Estate Broker).

⑩Any special provision contravening the provisions of any of paragraphs (3) through (6) or the preceding two paragraphs is hereby invalidated.

⑪In lieu of issuing the document referred to in paragraph (1), a Real Estate Broker may, pursuant to the provisions of Cabinet Order and with the consent of the requesting party, provide the matters that are required to be stated in said document by electronic or magnetic means (meaning means using an electronic data processing system or other means using information and communications technology; the same applies hereinafter) that is specified by Order of the Ministry of Land, Infrastructure, Transport and Tourism as a means by which measures are taken in lieu of affixing the name and seal under the provisions of that paragraph. In this case, said Real Estate Broker is deemed to have affixed its name and seal to said document and issued it.

⑫In lieu of delivering the document under the provisions of paragraph (6), a Real Estate Broker may, pursuant to the provisions of Cabinet Order and with the consent of the requesting party, provide the matters that are to be attested in said document by electronic or magnetic means that is specified by Order of the Ministry of Land, Infrastructure, Transport and Tourism. In this case, said Real Estate Broker is deemed to have delivered said document.

The provisions of the preceding article apply mutatis mutandis to an agreement requesting agency services for the sale or exchange of a Building Lot or building from a Real Estate Broker.

①A Real Estate Broker must have a real estate transaction specialist provide, through the issuance of a document in which the matters as listed below are stated (or drawing if required under item (v)), explanations, at the minimum these matters to a counterparty on the sale, exchange, or loan of a Building Lot or building or a person who has requested agency therefor, or to parties for the sale, exchange, or loan of a Building Lot or building subject to mediation to be carried out by the Real Estate Broker (hereinafter referred to as "Real Estate Brokerage Operation Counterparty") in connection with the Building Lot or building that said party intends to acquire or borrow during the period until the conclusion of an agreement for said sale, exchange, or loan: