一the number of trading participants falls to five or below (but only if it is an incorporated financial instruments exchange);

二it closes all of its financial instruments exchange markets;

三it is dissolved;

四a judgment invalidating its incorporation, merger (but only if the person incorporated in the merger is a financial instruments exchange), or incorporation-type company split (but only if the person incorporated in the incorporation-type company split is that financial instruments exchange) becomes final and binding; or

五it does not operate a financial instruments exchange market within six months from the date on which it obtains the license (unless there is any compelling reason and it has obtained the approval of the Prime Minister in advance).

一a general meeting resolution to dissolve a financial instruments exchange; and

二a merger in which financial instruments exchanges constitute all or part of the parties (excluding a merger referred to in Article 140, paragraph (1)).

一the occurrence of a cause of dissolution specified in the articles of incorporation;

二the number of members falls to five or below; or

三a judicial decision ordering dissolution.

一a merger between an incorporated association-operated financial instruments exchange and an incorporated association-operated financial instruments exchange:an incorporated association-operated financial instruments exchange; or

二a merger between an incorporated association-operated financial instruments exchange and an incorporated financial instruments exchange:an incorporated financial instruments exchange.

一the name and address of the incorporated association-operated financial instruments exchange surviving the absorption-type merger (hereinafter referred to as the "incorporated association-operated financial instruments exchange surviving the absorption-type merger" in this Subsection) and the name and address of the incorporated association-operated financial instruments exchange that will disappear in the absorption-type merger (hereinafter referred to as the "incorporated association-operated financial instruments exchange disappearing in the absorption-type merger" in this Subsection); and

二the day on which the absorption-type merger comes into effect (hereinafter referred to as the "effective date" in this Subsection) and other particulars specified by Cabinet Office Order.

一the names and addresses of the incorporated association-operated financial instruments exchange that will disappear in the consolidation-type merger (hereinafter each is referred to as an "incorporated association-operated financial instruments exchange disappearing in the consolidation-type merger" in this Subsection);

二the purpose, name, and the location of the principal office of the incorporated association-operated financial instruments exchange that will be incorporated in the consolidation-type merger (hereinafter referred to as the "incorporated association–operated financial instruments exchange incorporated in the consolidation-type merger" in this Subsection);

三beyond what is set forth in the preceding item, the particulars specified by the articles of incorporation of the incorporated association–operated financial instruments exchange incorporated in the consolidation-type merger; and

四the names of the persons that will become the president, board members, and inspectors at the time of the incorporation of the incorporated association–operated financial instruments exchange incorporated in the consolidation-type merger, and other particulars specified by Cabinet Office Order.

一the trade name and address of the incorporated financial instruments exchange that will survive the absorption-type merger (hereinafter referred to as the "incorporated financial instruments exchange surviving the absorption-type merger" in this Subsection), and the name and address of the incorporated association-operated financial instruments exchange disappearing in the absorption-type merger;

二if the incorporated financial instruments exchange surviving the absorption-type merger will deliver shares, etc. in lieu of equity (meaning shares or money; hereinafter the same applies in this Subsection) to the members of the incorporated association-operated financial instruments exchange disappearing in the absorption-type merger at the time of the absorption-type merger, the following particulars concerning those shares, etc.:

イif the shares, etc. are shares in the incorporated financial instruments exchange surviving the absorption-type merger, their number (for a company with class shares, the classes of shares and the number of shares in each class) or the method of calculating their number, and the particulars of the stated capital and reserve funds of the incorporated financial instruments exchange surviving the absorption-type merger; and

ロif the shares, etc. are money, the amount of that money or the method of calculating the amount;

三in the case prescribed in the preceding item, the particulars of the allotment of the shares, etc. referred to in that item to members of the incorporated association-operated financial instruments exchange disappearing in the absorption-type merger; and

四the effective date and other particulars specified by Cabinet Office Order.

一the name and address of the incorporated association-operated financial instruments exchange disappearing in the consolidation-type merger, and the trade name and address of the incorporated financial instruments exchange that is to disappear in the consolidation-type merger (hereinafter referred to as the "incorporated financial instruments exchange disappearing in the consolidation-type merger" in this Subsection);

二the purpose, trade name, location of the head office, and the total number of authorized shares in the incorporated financial instruments exchange that is to be incorporated in the consolidation-type merger (hereinafter referred to as the "incorporated financial instruments exchange incorporated in the consolidation-type merger" in this Subsection);

三beyond what is set forth in the preceding item, the particulars specified in the articles of incorporation of the incorporated financial instruments exchange incorporated in the consolidation-type merger;

四the names of the persons that is to become directors at the time of the incorporation of the incorporated financial instruments exchange incorporated in the consolidation-type merger, and the names of the persons that is to become accounting auditors at the time of its establishment;

五the particulars specified in the following (a) and (b) in accordance with the category of cases set forth in that item:

イif the incorporated financial instruments exchange incorporated in the consolidation-type merger is a company with accounting advisors:the names of the persons that is to become accounting advisors at the time of the incorporation of the incorporated financial instruments exchange incorporated in the consolidation-type merger; or

ロif the incorporated financial instruments exchange incorporated in the consolidation-type merger is a company with company auditors:the names of the persons that is to become company auditors at the time of the incorporation of the incorporated financial instruments exchange incorporated in the consolidation-type merger;

六the number of shares in the incorporated financial instruments exchange incorporated in the consolidation-type merger (for a company with class shares, the classes of shares and the number of shares in each class) that the incorporated financial instruments exchange incorporated in the consolidation-type merger will deliver in lieu of their equity or shares to members of the incorporated association-operated financial instruments exchange disappearing in the consolidation-type merger or shareholders of the incorporated financial instruments exchange disappearing in the consolidation-type merger at the time of the consolidation-type merger, or the method of calculating that number; and the particulars of the stated capital and reserve funds of the incorporated financial instruments exchange incorporated in the consolidation-type merger;

七the particulars of the allotment of the shares referred to in the preceding item to members of the incorporated association-operated financial instruments exchange disappearing in the consolidation-type merger or shareholders of the incorporated financial instruments exchange disappearing in the consolidation-type merger (other than a shareholder that constitutes the financial instruments exchange disappearing in the consolidation-type merger);

八if the incorporated financial instruments exchange disappearing in the consolidation-type merger has issued share options, the following particulars concerning the share options in the incorporated financial instruments exchange incorporated in the consolidation-type merger or the money that the incorporated financial instruments exchange incorporated in the consolidation-type merger will deliver in lieu of their share options to the holders of the share options at the time of the consolidation-type merger:

イif it delivers share options in the incorporated financial instruments exchange incorporated in the consolidation-type merger to the holders of share options in the incorporated financial instruments exchange disappearing in the consolidation-type merger, the features and the number of share options or the method of calculating that number;

ロin the case prescribed in (a), if the share options in the incorporated financial instruments exchange disappearing in the consolidation-type merger referred to in (a) are the share options that are attached to corporate bond certificates with share options, the fact that the incorporated financial instruments exchange incorporated in the consolidation-type merger will succeed to the obligations connected with corporate bonds in respect of the relevant corporate bond certificates with share options, the classes of corporate bonds subject to the succession, and the total amount of the corporate bonds in each class or the method of calculating that amount; and

ハif it delivers money to holders of share options in the incorporated financial instruments exchange disappearing in the consolidation-type merger, the amount of that money or the method of calculating the amount;

九in the case prescribed in the preceding item, the particulars of the allotment of share options in the incorporated financial instruments exchange incorporated in the consolidation-type merger or the money set forth in that item to the holders of share options in the incorporated financial instruments exchange disappearing in the consolidation-type merger.

一if it will not allot shares in the incorporated financial instruments exchange incorporated in the consolidation-type merger to shareholders of certain classes of shares, an indication of this and the relevant classes of shares; and

二in addition to the particulars set forth in the preceding item, if it will handle the allotment of shares in the incorporated financial instruments exchange incorporated in the consolidation-type merger differently for each class of shares, an indication of this and the details of the differing handling.