In cases of effecting a consolidation-type merger, etc. (excluding the following cases), dissenting shareholders may demand that the disappearing stock company, etc. purchase, at a fair price, the shares that they hold:
第八百四条第二項に規定する場合
in cases prescribed in Article 804, paragraph (2); and
第八百五条に規定する場合
in cases prescribed in Article 805.
前項に規定する「反対株主」とは、次に掲げる株主をいう。
The "dissenting shareholders" provided for in the preceding paragraph means the shareholders provided for in the following items:
第八百四条第一項の株主総会（新設合併等をするために種類株主総会の決議を要する場合にあっては、当該種類株主総会を含む。）に先立って当該新設合併等に反対する旨を当該消滅株式会社等に対し通知し、かつ、当該株主総会において当該新設合併等に反対した株主（当該株主総会において議決権を行使することができるものに限る。）
shareholders who gave notice to relevant disappearing stock company, etc. to the effect that they dissented from relevant consolidation-type merger, etc. prior to the shareholders meeting set forth in Article 804, paragraph (1) (if a resolution at a general meeting of class shareholders is required to effect the consolidation-type merger, etc., including relevant general meeting of class shareholders) and who dissented from relevant consolidation-type merger, etc. at the relevant shareholders meeting (limited to those who can exercise voting rights at relevant shareholders meeting); and
当該株主総会において議決権を行使することができない株主
shareholders who are unable to exercise voting rights at the relevant shareholders meeting.
消滅株式会社等は、第八百四条第一項の株主総会の決議の日から二週間以内に、その株主に対し、新設合併等をする旨並びに他の新設合併消滅会社、新設分割会社又は株式移転完全子会社（以下この節において「消滅会社等」という。）及び設立会社の商号及び住所を通知しなければならない。ただし、第一項各号に掲げる場合は、この限りでない。
A disappearing stock company, etc. must notify its shareholders that it will effect a consolidation-type merger, etc. and the trade names and addresses of the companies disappearing in the consolidation-type merger, the company splitting in the incorporation-type split, or the wholly owned subsidiary company resulting from a share transfer (hereinafter referred to as the "disappearing company, etc." in this Section) and the incorporated company, within two weeks from the day of the resolution at the shareholders meeting referred to in Article 804, paragraph (1);provided, however, that this does not apply in the cases set forth in the items of paragraph (1).
前項の規定による通知は、公告をもってこれに代えることができる。
A public notice may be substituted for the notice under the provisions of the preceding paragraph.
第一項の規定による請求（以下この目において「株式買取請求」という。）は、第三項の規定による通知又は前項の公告をした日から二十日以内に、その株式買取請求に係る株式の数（種類株式発行会社にあっては、株式の種類及び種類ごとの数）を明らかにしてしなければならない。
To make a demand under the provisions of paragraph (1) (hereinafter referred to as the "exercise of appraisal rights" in this division) a dissenting shareholder must indicate the number of shares with regard to which the shareholder is exercising the appraisal rights (or, for a company with classes shares, the classes of the shares and the number of shares for each class), within twenty days from the day of the notice under the provisions of paragraph (3) or the public notice under the preceding paragraph.
株券が発行されている株式について株式買取請求をしようとするときは、当該株式の株主は、消滅株式会社等に対し、当該株式に係る株券を提出しなければならない。ただし、当該株券について第二百二十三条の規定による請求をした者については、この限りでない。
When intending to exercise appraisal rights on shares for which share certificates have been issued, shareholders of those shares must submit the share certificates representing those shares to the disappearing stock company, etc.;provided, however, that this does not apply to a person who makes a demand pursuant to the provisions of Article 223 with respect to those share certificates.
Shareholders exercising appraisal rights may withdraw their demands for appraisal only with the approval of the disappearing stock company, etc.
The demands of the shareholders exercising appraisal rights lose effect if the consolidation-type merger, etc. is cancelled.
The provisions of Article 133 do not apply to shares for the exercise of appraisal rights.