①With regard to corporation tax for the business year commencing first on or after the Effective Date (hereinafter referred to as the "business year of the amendment" in this paragraph), if the total of the amounts calculated under the provisions of the items of Article 53, paragraph (1) of the New Act at the end of the business year of the amendment is less than whichever is the lesser of the amounts listed in the following items, notwithstanding the provisions of that paragraph, that lesser amount is to be the total of the amounts calculated under the provisions of the items of that paragraph:

②With regard to corporation tax for each business year up to the business year immediately preceding the first business year in which the total of the amounts calculated under the provisions of the items of Article 53, paragraph (1) of the New Act for a corporation to which the provisions of the preceding paragraph have been applied comes to exceed the amount of the reserve for price fluctuations at the end of the business year immediately preceding that business year (or, for a merging corporation that has carried out a merger in that business year, the amount obtained by adding the amount of the reserve for price fluctuations taken over from the merged corporation; the same applies in item (i)) (limited to each business year commencing before April 1, 1977), notwithstanding the provisions of that paragraph, whichever is the lesser of the amounts listed in the following items is to be the total of the amounts calculated under the provisions of the items of that paragraph:

③The provisions of Article 54 of the New Act apply to corporation tax on income for business years of corporations ending on or after the Effective Date, and with regard to corporation tax on income for business years of corporations that ended before the Effective Date, the provisions then in force continue to govern. In this case, with regard to the application of the provisions of that Article to a corporation prescribed in paragraph (1) of that Article whose amount of capital or amount of contribution exceeds 100 million yen at the end of a business year that commenced before the Effective Date and ends on or after the Effective Date, the phrase "the amount calculated by dividing" in that paragraph is deemed to be replaced with "the amount calculated by dividing (for a business year that commences before the date of enforcement of the Act Partially Amending the Act on Special Measures Concerning Taxation (Act No. 5 of 1976) and ends on or after that date, the amount obtained by adding, to the total of the amount equivalent to 10/1,000 of the amount calculated by multiplying the revenue from the transactions listed in item (i) of the following paragraph by the number of months in the period from the first day of that business year to March 31, 1976 (hereinafter referred to as the "designated period for the former reserve rate" in this paragraph) and dividing the product by the number of months in that base year, and the amount equivalent to 9/1,000 of the amount calculated by multiplying the revenue from those transactions by the number of months obtained by deducting the number of months in the designated period for the former reserve rate from the number of months in that business year and dividing the product by the number of months in that base year, the total of the amount equivalent to 15/1,000 of the amount calculated by multiplying the revenue from the transactions listed in items (ii) through (viii) of the following paragraph by the number of months in the designated period for the former reserve rate and dividing the product by the number of months in that base year, and the amount equivalent to 12/1,000 of the amount calculated by multiplying the revenue from those transactions by the number of months obtained by deducting the number of months in the designated period for the former reserve rate from the number of months in that business year and dividing the product by the number of months in that base year)".

④The provisions of Article 55 (excluding the part concerning paragraph (2) of that Article) and Article 56 of the New Act apply to specified shares, etc. prescribed in Article 55, paragraph (1) and Article 56, paragraph (1) of the New Act that a corporation acquires on or after the Effective Date, and with regard to specified shares, etc. prescribed in Article 55, paragraph (1) and Article 56, paragraph (1) of the Former Act that a corporation acquired before the Effective Date, except in the case provided for in the following paragraph, the provisions then in force continue to govern.

⑤In the case where a corporation acquired specified shares, etc. prescribed in Article 55, paragraph (1) of the Former Act before the Effective Date and, on or after the Effective Date, comes to fall under any of the cases listed in the items of Article 55, paragraph (5) of the New Act, the provisions of that paragraph are to govern. In this case, if a corporation listed in the left-hand column of item (iii) or (iv) of the table in paragraph (1) of that Article pertaining to those specified shares, etc. comes to fall under the case listed in paragraph (5), item (iii), (a) of that Article, the phrase "25 percent" in (a) of that item is deemed to be replaced with "40 percent".

⑥The provisions of Article 56-4 of the New Act (excluding paragraph (3) of that Article) apply to the amount of railway equipment expenditure (meaning the amount paid for the acquisition of the equipment prescribed in Article 56-4, paragraph (1) of the New Act) pertaining to construction work specified on or after the Effective Date by Cabinet Order as prescribed in item (xi) of the table in Article 43, paragraph (1) of the New Act, and with regard to that amount of railway equipment expenditure pertaining to construction work specified before the Effective Date by Cabinet Order as prescribed in item (x) of the table in Article 43, paragraph (1) of the Former Act, the provisions then in force continue to govern.

⑦The provisions of Article 56-5 of the New Act (excluding paragraph (3) of that Article) apply to power generation facility expenditure (meaning the amount paid for the acquisition of the power generation facilities prescribed in Article 56-5, paragraph (1) of the New Act) pertaining to construction work specified on or after the Effective Date by Cabinet Order as prescribed in item (xii) of the table in Article 43, paragraph (1) of the New Act, and with regard to that power generation facility expenditure pertaining to construction work specified before the Effective Date by Cabinet Order as prescribed in item (xi) of the table in Article 43, paragraph (1) of the Former Act, the provisions then in force continue to govern.

⑧The provisions of Article 56-6 of the New Act (excluding paragraph (4) of that Article) apply to specified supply facility expenditure (meaning the amount paid for the acquisition of the specified supply facilities prescribed in Article 56-6, paragraph (1) of the New Act) pertaining to construction work specified on or after the Effective Date by Cabinet Order as prescribed in item (xiii) of the table in Article 43, paragraph (1) of the New Act, and with regard to that specified supply facility expenditure pertaining to construction work specified before the Effective Date by Cabinet Order as prescribed in item (xiii) of the table in Article 43, paragraph (1) of the Former Act, the provisions then in force continue to govern.

⑨The provisions of Article 56-4, paragraph (3), Article 56-5, paragraph (3) or Article 56-6, paragraph (4) of the New Act apply to the inclusion in gross profit of a depreciation reserve (meaning the reserve for specified railway construction depreciation under Article 56-4, paragraph (1) of the New Act, the reserve for nuclear power generation construction depreciation under Article 56-5, paragraph (1) of the New Act and the reserve for specified gas pipeline construction depreciation under Article 56-6, paragraph (1) of the New Act) pertaining to the equipment listed in items (xi) through (xiii) of the table in Article 43, paragraph (1) of the New Act for which a corporation makes an acquisition, etc. and which it provides for use in its business in a business year ending on or after the Effective Date, and with regard to the inclusion in gross profit of that depreciation reserve pertaining to that equipment for which a corporation made an acquisition, etc. and which it provided for use in its business in a business year that ended before the Effective Date, the provisions then in force continue to govern.

⑩The provisions of Article 56-8 of the New Act apply to corporation tax on income for business years of corporations ending on or after the Effective Date, and with regard to corporation tax on income for business years of corporations that ended before the Effective Date, the provisions then in force continue to govern. In this case, with regard to the application of the provisions of that Article in a business year of a corporation that commenced before the Effective Date and ends on or after the Effective Date, the phrase "within the designated period of that business year" in paragraph (1), item (i) of that Article is deemed to be replaced with "within the period from April 1, 1976 to the end of that business year", and the phrase "amount equivalent to" with "total of the amount equivalent to that and the amount equivalent to 3/1,000 (or 6/1,000, for a business belonging to the type of business specified by that Cabinet Order) of the amount specified by that Cabinet Order within the period from the first day of that business year to March 31 of that year".

⑫With regard to the calculation of the amount of income for business years up to and including the business year that includes July 18, 1976 of a corporation that holds a reserve for exhibiting at the Okinawa International Ocean Exposition under the provisions of Article 56-12 of the Former Act, the provisions of that Article remain in force.