Article 114Acquisition Price of Shares, etc. in the Case of a Return of Capital, etc.

①In the case where a Resident acquires money or other assets as a return of capital (meaning a return of capital prescribed in Article 25, paragraph (1), item (iv) (Amounts Deemed to Constitute Dividends) of the Act; the same applies in item (i)) or a distribution of residual assets upon dissolution (hereinafter in this paragraph referred to as "refund, etc.") by the corporation that issued shares held by the Resident (hereinafter in this paragraph referred to as "old shares"), for the calculation of the assessed value of the old shares under Article 105, paragraph (1) (Methods of Valuing Securities) in each year on or after the year that includes the date of that refund, etc., the acquisition price per share of the old shares that serves as the basis of that calculation is the amount obtained by deducting, from the previous acquisition price of one old share, the amount calculated by multiplying the previous acquisition price of one old share by the ratio prescribed in Article 61, paragraph (2), item (iv), (a) (Method of Calculating the Amount of Stated Capital, etc. Corresponding to Shares Held) pertaining to that refund, etc. (in the cases set out in the following items, the ratio specified in the relevant item pertaining to that refund, etc.; referred to in the following paragraph as the "refund ratio"), and the old shares are deemed to have been acquired on that date.

②A corporation that issued the old shares prescribed in the preceding paragraph must, where it has made a refund, etc. prescribed in that paragraph, notify the individual who received that refund, etc. of the refund ratio pertaining to that refund, etc.

③In the case where a Resident acquires money or other assets as a refund of contributions of a corporation (hereinafter in this paragraph referred to as "refund") in respect of contributions in that corporation held by the Resident (limited to those with no fixed number of units; hereinafter in this paragraph referred to as "contribution held"), for the calculation of the assessed value of the contribution held under Article 105, paragraph (1) in each year on or after the year that includes the date of that refund, the acquisition price per unit of the contribution held that serves as the basis of that calculation is the amount obtained by deducting, from the previous acquisition price of one unit of the contribution held, the amount calculated by multiplying the previous acquisition price of one unit of the contribution held by the ratio that the amount of the contribution pertaining to that refund bears to the amount of that contribution held immediately before that refund, and the contribution held after that refund is deemed to have been acquired on that date.

④In the case where a Resident receives money as a refund of principal (excluding a refund due to termination or partial cancellation of the trust, or a trust split, pertaining to that Specified Trust That Issues Beneficiary Certificates; hereinafter in this paragraph referred to as "refund") of a Specified Trust That Issues Beneficiary Certificates pertaining to a beneficial interest in such a trust held by the Resident (hereinafter in this paragraph referred to as "old beneficial interest"), for the calculation of the assessed value of the old beneficial interest under Article 105, paragraph (1) in each year on or after the year that includes the date of that refund, the acquisition price per unit of the old beneficial interest that serves as the basis of that calculation is the amount obtained by deducting, from the previous acquisition price of one unit of the old beneficial interest, the amount calculated by multiplying the previous acquisition price of one unit of the old beneficial interest by the principal reduction ratio (meaning the ratio that the amount of principal reduced by that refund bears to the amount of principal of the Specified Trust That Issues Beneficiary Certificates pertaining to that old beneficial interest immediately before that refund (where there is a fraction below the third decimal place in that ratio, it is rounded up); the same applies in the following paragraph), and the old beneficial interest is deemed to have been acquired on that date.

⑤The trustee of a Specified Trust That Issues Beneficiary Certificates pertaining to the old beneficial interest prescribed in the preceding paragraph must, where it has made a refund prescribed in that paragraph, notify the individual who received that refund of the principal reduction ratio.

⑥In the case where a Resident receives a distribution of proceeds in respect of a beneficial interest in an Open-Ended Securities Investment Trust held by the Resident (hereinafter in this paragraph referred to as "old beneficial interest") (excluding the case of payment received upon termination of that Open-Ended Securities Investment Trust or partial cancellation of that Open-Ended Securities Investment Trust, and limited to the case where the distribution of proceeds includes a special distribution prescribed in Article 27 (Portion of Distributions of Proceeds of Open-Ended Securities Investment Trusts That Is Not Taxed)), for the calculation of the assessed value of the old beneficial interest under Article 105, paragraph (1) in each year on or after the year that includes the date of that distribution of proceeds, the acquisition price per unit of the old beneficial interest that serves as the basis of that calculation is the amount calculated by dividing the amount obtained by deducting the amount distributed as that special distribution from the amount calculated by multiplying the previous acquisition price of one unit of the old beneficial interest by the number of old beneficial interests held by the Resident immediately before that distribution of proceeds, by the number of those old beneficial interests, and the old beneficial interest is deemed to have been acquired on that date.

⑦In the case where a Resident, with regard to part of a beneficial interest in an Investment Trust or a Specified Trust That Issues Beneficiary Certificates held by the Resident (hereinafter in this paragraph referred to as "old beneficial interest"), cancels part of the Investment Trust or Specified Trust That Issues Beneficiary Certificates pertaining to that old beneficial interest, for the calculation of the assessed value of the old beneficial interest under Article 105, paragraph (1) in each year on or after the year that includes the date of that partial cancellation, the acquisition price per unit of the old beneficial interest that serves as the basis of that calculation is the previous acquisition price of one unit of the old beneficial interest, and the old beneficial interest is deemed to have been acquired on that date.