Article 102Special Provisions on Incorporation Procedures

①A subscriber for the shares solicited at incorporation may submit the requests set forth in each item of Article 31, paragraph (2) at any time during the hours designated by the incorporators; provided, however, that the fees designated by the incorporators are required to be paid in order to submit the requests set forth in item (ii) or item (iv) of that paragraph.

②As at formation of a stock company, the subscriber for the shares solicited at incorporation becomes a shareholder of the shares issued at incorporation for which the relevant subscriber has made payment pursuant to the provisions of Article 63, paragraph (1).

④A person who accepts transfer of shares issued at incorporation as referred to in the preceding paragraph or the right to become their shareholder may exercise the right of shareholders at incorporation and shareholders for relevant shares issued at incorporation; provided, however, that this does not apply to cases where the person has acted in bad faith or with gross negligence.

⑤The provisions of the proviso to Article 93, paragraph (1) and the provisions of Article 94, paragraph (1) of the Civil Code do not apply to the manifestation of intention relating to an offer of subscription for and allotment of the shares solicited at incorporation, and relating to contracts under Article 61.

⑥The subscriber for the shares solicited at incorporation may not rescind the subscription for shares issued at incorporation on the grounds of mistake, fraud or duress after the formation of a stock company, or after exercising the subscriber's votes at an organizational meeting or organizational meeting of class shareholders.