Article 167-2Prohibition of Providing Information on Unpublished Material Facts
第百六十七条の二（未公表の重要事実の伝達等の禁止）
The corporate insider prescribed in Article 166, paragraph (1) of a listed company, etc. (including the person prescribed in the second sentence of that paragraph) that has come to know a material fact related to business or other matters of the listed company, etc. in a manner prescribed in any of the items of that paragraph must not provide information on the material facts related to business or other matters or recommend the purchase and sale, etc. for the purpose of having other persons gain profits or preventing them from incurring losses by having them make purchase and sale, etc. of regulated securities, etc. of the listed company, etc. before the publication set forth in that paragraph is made with regard to the material facts related to business or other matters.
The person concerned with tender offeror, etc. prescribed in paragraph (1) of the preceding Article (including the person prescribed in the second sentence of that paragraph) related to a tender offeror, etc. that has come to know a fact concerning tender offer, etc. by the tender offeror, etc. in the manner as prescribed in any of the items of that paragraph must not provide information on the fact concerning tender offer, etc. or recommend the purchase, etc. or the sales, etc. for the purpose of having other persons gain profits or preventing them from incurring losses by having them make purchase and sale, etc. of share certificates, etc. related to the tender offer, etc. in cases where the fact is the fact concerning launch of a tender offer, etc. prescribed in that paragraph, or by having them make sales, etc. of share certificates, etc. related to the tender offer, etc. in cases where the fact is the fact concerning suspension of a tender offer, etc. prescribed in that paragraph, before the publication set forth in that paragraph is made with regard to the fact concerning tender offer, etc.
公開買付者等に係る前条第一項に規定する公開買付者等関係者（同項後段に規定する者を含む。）であつて、当該公開買付者等の公開買付け等事実を同項各号に定めるところにより知つたものは、他人に対し、当該公開買付け等事実について同項の公表がされたこととなる前に、同項に規定する公開買付け等の実施に関する事実に係る場合にあつては当該公開買付け等に係る株券等に係る買付け等をさせ、又は同項に規定する公開買付け等の中止に関する事実に係る場合にあつては当該公開買付け等に係る株券等に係る売付け等をさせることにより当該他人に利益を得させ、又は当該他人の損失の発生を回避させる目的をもつて、当該公開買付け等事実を伝達し、又は当該買付け等若しくは当該売付け等をすることを勧めてはならない。
Read this with the articles around it
(Acts Prohibited for Company Insiders)
A person set forth in the following items (hereinafter referred to as a "company insider" in this Article) that comes to know a material fact about the business of a listed company…
次の各号に掲げる者（以下この条において「会社関係者」という。）であつて、上場会社等に係る業務等に関する重要事実（当該上場会社等の子会社に係る会社関係者（当該上場会社等に係る会社関係者に該当する者を除く。）については、当該子会社の業務等に関する重要事実であつて、次項第五号から第八号までに規定するものに限る。以下同じ。）…
Open this provision(Acts Prohibited for Persons Affiliated with the Tender Offeror)
A person set forth in any of the following items (hereinafter referred to as a "person affiliated with the tender offeror, etc." in this Article) that comes to know the fact that a tender offer…
次の各号に掲げる者（以下この条において「公開買付者等関係者」という。）であつて、第二十七条の二第一項に規定する株券等で金融商品取引所に上場されているもの、店頭売買有価証券若しくは取扱有価証券に該当するもの（以下この条において「上場等株券等」という。）の同項に規定する公開買付け（同項本文の規定の適用を受ける場合に限る。…
Open this provisionlisted company, etc.
「上場会社等」
In Articles 163 to 166 and Article 167-2, paragraph (1), the issuer of securities a Cabinet Order (政令) specifies, such as the securities in Article 2, paragraph (1), items (v), (vii), (ix) and (xi) (other than those a Cabinet Order excludes) that are listed on a financial instruments exchange (金融商品取引所), are over-the-counter traded securities (店頭売買有価証券) or are tradable securities (取扱有価証券).
Short name set inArticle 163, paragraph (1)· applies only in this article and in Articles 164 to 166; and Article 167-2, paragraph (1)
regulated securities, etc.machine translation
「特定有価証券等」
In Articles 163 to 166, Article 167-2, paragraph (1), Article 175-2 and Article 197-2, paragraph (1), item (xiv), the regulated securities (特定有価証券) of a listed company, etc. (上場会社等) together with related securities (関連有価証券): securities set out in Article 2, paragraph (1), item (xix) that represent options on those regulated securities, and other securities a Cabinet Order (政令) specifies.
Short name set inArticle 163, paragraph (1)· applies only in this article and in Articles 164 to 166 and 175-2; Article 167-2, paragraph (1); and Article 197-2, paragraph (1), item (xiv)
company insidermachine translation
「会社関係者」
In Article 166, any of the persons its paragraph (1) lists in relation to a listed company, etc. (上場会社等): its officers, agents, employees and other workers (including those of its parent and subsidiary companies and, for a listed investment corporation, of its asset management company and that company's specified affiliated corporation (特定関係法人)); shareholders, unitholders, members and others holding the right to inspect its accounting books or a similar right; persons with statutory authority over it; persons that have, or are negotiating, a contract with it; and certain officers of those that are corporations.
Short name set inArticle 166, paragraph (1)· applies only in this article
purchase and sale, etc.machine translation
「売買等」
In Article 166 and the provisions it names, a purchase and sale or other transfer or acquisition for value of a listed company's regulated securities, etc. (特定有価証券等), a succession to them in a merger or company split, or a derivatives transaction in them.
Short name set inArticle 166, paragraph (1)· applies only in this article and in Article 167-2, paragraph (1); Article 175-2, paragraph (1); and Article 197-2, paragraph (1), item (xiv)
tender offer, etc.machine translation
「公開買付け等」
In Article 167, a tender offer under Article 27-2, paragraph (1) (where its main clause applies) for listed or other share certificates, etc. (上場等株券等), an act a Cabinet Order (政令) treats as equivalent, or a tender offer under Article 27-22-2, paragraph (1) for listed share certificates, etc. (上場株券等).
Short name set inArticle 167, paragraph (1)· applies only in this article
tender offeror, etc.
「公開買付者等」
In Article 167 and Article 167-2, paragraph (2), a person that makes a tender offer, etc. (公開買付け等).
Short name set inArticle 167, paragraph (1)· applies only in this article and in Article 167-2, paragraph (2)
person affiliated with the tender offeror, etc.machine translation
「公開買付者等関係者」
In Article 167, any of the persons its paragraph (1) lists in relation to a tender offeror, etc. (公開買付者等): its officers and other staff (including those of its parent company); shareholders or members holding the right to inspect its accounting books; persons with statutory authority over it; persons that have, or are negotiating, a contract with it; the issuer of the targeted listed or other share certificates, etc. (上場等株券等) and its officers; and certain officers of those that are corporations.
Short name set inArticle 167, paragraph (1)· applies only in this article
sale, etc.machine translation
「売付け等」
In Article 167, Article 167-2, paragraph (2), Article 175-2, paragraph (2) and Article 197-2, paragraph (1), item (xv), a sale or other transaction a Cabinet Order (政令) specifies in share certificates, etc. (株券等) — the share certificates, bonds with share options and other securities a Cabinet Order specifies, issued by the company whose shares are the subject of a tender offer, etc. (公開買付け等), and securities representing options on them.
Defined inArticle 167, paragraph (1)· applies only in this article and in Article 167-2, paragraph (2); Article 175-2, paragraph (2); and Article 197-2, paragraph (1), item (xv)
share certificates, etc.
「株券等」
In Article 167, Article 167-2, paragraph (2), Article 175-2 and Article 197-2, paragraph (1), item (xv), specified share certificates, etc. (特定株券等) — share certificates, corporate bond certificates with share options and other securities a Cabinet Order (政令) specifies, issued by the company whose shares are the subject of a tender offer, etc. — and related share certificates, etc. (関連株券等), such as securities under Article 2, paragraph (1), item (xix) that represent options on them.
Short name set inArticle 167, paragraph (1)· applies only in this article and in Article 167-2, paragraph (2); Article 175-2; and Article 197-2, paragraph (1), item (xv)
purchase, etc.machine translation
「買付け等」
In Article 167, Article 167-2, paragraph (2), Article 175-2, paragraph (2) and Article 197-2, paragraph (1), item (xv), a purchase or other transaction a Cabinet Order (政令) specifies in share certificates, etc. (株券等): the share certificates, bond certificates with share options (新株予約権付社債券) and other securities a Cabinet Order specifies, issued by the company whose listed share certificates, etc. are the subject of a tender offer, etc. (公開買付け等), and securities representing options on them that a Cabinet Order specifies.
Defined inArticle 167, paragraph (1)· applies only in this article and in Article 167-2, paragraph (2); Article 175-2, paragraph (2); and Article 197-2, paragraph (1), item (xv)
facts of the tender offer, etc.machine translation
「公開買付け等事実」
In Article 167 and the other provisions it names, the fact that a tender offeror, etc. (公開買付者等) has decided to launch a tender offer, etc. (公開買付け等), or has decided not to go ahead with one it has announced, as a person affiliated with the tender offeror, etc. (公開買付者等関係者) came to know it in a way listed in Article 167, paragraph (1).
Short name set inArticle 167, paragraph (3)· applies only in this article and in Article 167-2, paragraph (2); Article 175-2, paragraph (2); and Article 197-2, paragraph (1), item (xv)