①For each contract type, a corporation (excluding a professional investor) may request a financial instruments business operator, etc. to treat it as a professional investor with regard to financial instruments transaction contracts that are of the same contract type.

②Before approving a request under the preceding paragraph, a financial instruments business operator, etc. must obtain the written consent of the corporation making the request (hereinafter referred to as the "applicant" in this Article), on a document that states the following particulars. In this, it must make the end date provided for in item (ii) the day on which one year elapses counting from the approval date provided for in item (i) (or, in a case specified by Cabinet Office Order, a day before that one year elapses, which is specified by Cabinet Office Order):

③The provisions of paragraph (12) of the preceding Article apply mutatis mutandis to the written consent under the preceding paragraph.

④With regard to the application of the provisions of this Act (excluding Article 29-5, paragraph (3) and this Subsection) if a financial instruments business operator, etc. gives the approval under paragraph (2), the applicant gives the written consent under that paragraph, and the applicant is a person set forth in any of the following items, the applicant is deemed to be a professional investor:

⑤If the preceding paragraph applies to an applicant in connection with the conclusion of a subject contract (limited to one that entails the financial instruments business operator, etc. acting as an agent as provided in Article 2, paragraph (8), items (ii) through (iv), (x) and (xiii); hereinafter referred to as a "specified subject contract" in this and the following paragraphs), and the financial instruments business operator, etc., acting as the applicant's agent based on that specified subject contract, concludes a financial instruments transaction contract before the approval date, it must notify the counterparty financial instruments business operator, etc. with which the financial instruments transaction contract is to be concluded (referred to as the "counterparty financial instruments business operator, etc." in the following paragraph) in advance, that the applicant is deemed to be a professional investor with regard to the financial instruments transaction contract.

⑥If a financial instruments business operator, etc. that has concluded a specified subject contract gives a notification under the preceding paragraph, the applicant is deemed to be a professional investor with regard to a financial instruments transaction contract that the financial instruments business operator, etc. concludes with the counterparty financial instruments business operator, etc. while acting as the agent of the applicant pursuant to the specified subject contract (limited to a financial instruments transaction contract concluded before the end date), and the provisions of this Act (excluding Article 29-5, paragraph (3) and this Subsection) apply.

⑦If the applicant makes a request under paragraph (1) before the end date for the same contract type as the subject contracts (such a request is referred to as the "request for renewal" in the following paragraph), the applicant must do so on or after the day on which the period specified by Cabinet Office Order elapses counting from the approval date.

⑧With regard to the application of the provisions of paragraph (2) and the preceding paragraph if an applicant makes a request for renewal, in paragraph (2), the phrase "approval date prescribed in item (i)" is deemed to be replaced with "day following the previous end date" and in the preceding paragraph, the term "approval date" is deemed to be replaced with "day following the previous end date".

⑨An applicant may request a financial instruments business operator, etc. to treat it as a customer other than a professional investor again with regard to subject contracts, at any time on or after the approval date.

⑩After receiving a request under the provisions of the preceding paragraph, a financial instruments business operator, etc. must approve that request by the time it solicits the conclusion of the first subject contract thereafter or by the time it first concludes such a contract thereafter.

⑪Before approving a request pursuant to the provisions of the preceding paragraph, a financial instruments business operator, etc. must deliver a document stating the day on which it gives the approval under the preceding paragraph and any other particulars specified by Cabinet Office Order to the corporation that submitted the request under paragraph (9).

⑫The provisions of paragraph (4) of the preceding Article apply mutatis mutandis to the delivery of documents under the preceding paragraph.

⑬If a financial instruments business operator, etc. gives the approval under paragraph (10), the provisions of paragraphs (4) through (9) do not apply for the period from the day of approval under paragraph (10) to the day immediately preceding the day on which it newly gives approval under paragraph (2).

①For each contract type, an individual set forth in the following (excluding qualified institutional investors) may request a financial instruments business operator, etc. to treat that individual as a professional investor with regard to financial instruments transaction contracts that are of the same contract type:

②If a financial instruments business operator, etc. receives a request under the preceding paragraph, it must deliver a document stating the particulars set forth in paragraph (2), items (iv), (a) and (b) of the preceding Article to the individual that submitted the request (hereinafter referred to as an "applicant" in this Article), and must confirm that the applicant falls under any of the persons set forth in the items of the preceding paragraph.

③The provisions of Article 34-2, paragraph (4) apply mutatis mutandis to the delivery of a document under the preceding paragraph.

④An applicant may request a financial instruments business operator, etc. to treat it as a customer other than a professional investor again with regard to financial instruments transaction contracts that are of the same contract type as the one to which the request under paragraph (1) pertains, at any time on or after the day on which the financial instruments business operator, etc. gives the approval under paragraph (2) of the preceding Article as applied mutatis mutandis pursuant to paragraph (6).

⑤After receiving a request under the provisions of the preceding paragraph, a financial instruments business operator, etc. must approve that request by the time it solicits the conclusion of the first financial instruments transaction contract thereafter that is of the contract type to which the request pertains, or by the time it concludes the first such contract thereafter.

⑥The provisions of paragraphs (2) through (8) of the preceding Article apply mutatis mutandis if a financial instruments business operator, etc. approves a request under paragraph (1), and the provisions of paragraphs (11) through (13) of that Article apply mutatis mutandis if a financial instruments business operator, etc. approves a request under paragraph (4). In this case, in Article 34-3, paragraph (2), the phrase "the corporation making the request" is deemed to be replaced with "the applicant under paragraph (2) of the following Article"; in Article 34-3, paragraph (4), the phrase "the approval under paragraph (2)" is deemed to be replaced with "the delivery of a document and the confirmation under paragraph (2) of the following Article and the approval under paragraph (2)"; in Article 34-3, paragraph (7), the term "paragraph (1)" is deemed to be replaced with "paragraph (1) of the following Article"; in Article 34-3, paragraph (11), the phrase "the preceding paragraph" is deemed to be replaced with "paragraph (5) of the following Article" and the phrase "the corporation that submitted the request under paragraph (9)" is deemed to be replaced with "the individual that submitted the request under paragraph (4) of that Article"; in Article 34-3, paragraph (13), the term "paragraph (10)" is deemed to be replaced with "paragraph (5) of the following Article", the phrase "gives approval under paragraph (2)" is deemed to be replaced with "delivers the documents and makes the confirmation under the provisions of paragraph (2) of that Article, as well as giving approval under paragraph (2)", and the term "(9)" is deemed to be replaced with "(8) and paragraph (4) of the following Article"; and any other necessary technical replacement of terms is specified by Cabinet Order.

Beyond what is provided for in this Subsection, procedures for if a professional investor is deemed to be a customer other than a professional investor or if a customer other than a professional investor is deemed to be a professional investor and necessary particulars otherwise relevant to the application of the provisions of this Subsection are specified by Cabinet Order.