①If the buildings are lost before the duration of the land leasehold right expires (including demolition by the land leasehold right holder or the land sublease right holder; the same applies hereinafter), and the land leasehold right holder constructs a building that is to last past the remaining period of existence, as long as the lessor gives consent to the construction of the building, the land leasehold right continues to exist for twenty years from the day of the consent or the day the building is constructed, whichever comes earlier; provided, however, that when the remaining period of existence is longer than this or when the parties have determined a longer period, that period applies.

②If the land leasehold right holder notifies the lessor the fact that the land leasehold right holder intends to newly construct a building that is to last past the remaining period of existence and the lessor does not state an objection within two months after receiving the notice, it is deemed that the lessor referred to in the preceding paragraph has consented to the construction of the building; provided, however, that this does not apply if notice has been given after the contract was renewed (if the duration of the land leasehold right has been extended pursuant to the provisions of that paragraph, after the date that the initial duration of the land leasehold right is to expire; hereinafter the same applies in the following Article and Article 18).

③If a land sublease right has been established, building construction that the land sublease right holder undertakes is deemed to be building construction that the land leasehold right holder undertakes, and the provisions of paragraph (1) apply between the land leasehold right holder and the lessor.