A subsidiary company may not acquire the shares of a stock company that is its parent company (hereinafter in this Article referred to as "parent company's shares").
The provisions of the preceding paragraph do not apply to the following cases:
前項の規定は、次に掲げる場合には、適用しない。
if the subsidiary company accepts the transfer of the parent company's shares held by another company if the subsidiary company accepts the transfer of the entire business of relevant other company (including foreign companies);
if the subsidiary company succeeds to the parent company's shares from a company disappearing due to merger;
if the subsidiary company succeeds to the parent company's shares from another company by absorption-type company split;
if the subsidiary company succeeds to the parent company's shares from another company by incorporation-type company split; or
beyond what is set forth in the preceding items, cases prescribed by Ministry of Justice Order.
前各号に掲げるもののほか、法務省令で定める場合
The subsidiary company must dispose of the parent company's shares held by the same at an appropriate time.
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company
「会社」
Any of the four kinds of company this Act governs: a stock company (株式会社), a general partnership company (合名会社), a limited partnership company (合資会社) or a limited liability company (合同会社).
Defined inArticle 2, paragraph (1), item (i)· applies throughout the law
foreign company
「外国会社」
A corporation or other body formed under a foreign country's law that is of the same kind as, or similar to, a company under this Act.
Defined inArticle 2, paragraph (1), item (ii)· applies throughout the law
subsidiary company
「子会社」
A stock company in which a company holds a majority of the votes, or any other corporation whose management a company controls, as set out by Ministry of Justice Order (法務省令).
Defined inArticle 2, paragraph (1), item (iii)· applies throughout the law
parent company
「親会社」
A company that has a stock company as its subsidiary company, or any other corporation that controls a stock company's management, as set out by Ministry of Justice Order (法務省令).
Defined inArticle 2, paragraph (1), item (iv)· applies throughout the law
absorption-type company split
「吸収分割」
A stock company or limited liability company's handing over all or part of the rights and obligations of its business to another existing company, which takes them over.
Defined inArticle 2, paragraph (1), item (xxix)· applies throughout the law
incorporation-type company split
「新設分割」
One or more stock companies or limited liability companies handing over all or part of the rights and obligations of their business to a new company formed by the split.
Defined inArticle 2, paragraph (1), item (xxx)· applies throughout the law
parent company's shares
「親会社株式」
Shares of the stock company that is a company's parent company, which that subsidiary company may generally not acquire.
Short name set inArticle 135, paragraph (1)· applies only in this article