Shareholders may diversely exercise voting rights they hold.

For a company with board of directors, the shareholders under the preceding paragraph must notify the stock company that they will diversely exercise their voting rights and of the reason thereof no later than three days prior to the day of the shareholders meeting.

If the shareholders referred to in the paragraph (1) are not persons who hold the shares on behalf of others, the stock company may refuse the diverse exercise of voting rights held by relevant shareholders pursuant to the provisions of that paragraph.