Article 484Commencement of Bankruptcy Proceedings for Liquidating Stock Companies
第四百八十四条（清算株式会社についての破産手続の開始）
If it has become clear that the assets of a liquidating stock company are not sufficient to fully discharge its debts, liquidators must immediately file a petition for the commencement of bankruptcy proceedings.
清算株式会社の財産がその債務を完済するのに足りないことが明らかになったときは、清算人は、直ちに破産手続開始の申立てをしなければならない。
If a liquidating stock company has become subject to the ruling for the commencement of bankruptcy proceedings, if liquidators have transferred their administration to the trustee in bankruptcy, they are deemed to have completed their duties.
清算人は、清算株式会社が破産手続開始の決定を受けた場合において、破産管財人にその事務を引き継いだときは、その任務を終了したものとする。
In the cases provided for in the preceding paragraph, if the liquidating stock company has already made payments to creditors or distributions to shareholders, the trustee in bankruptcy may retrieve the same.
Article 485Remuneration for Liquidators Appointed by the Court
第四百八十五条（裁判所の選任する清算人の報酬）
If the court has appointed the liquidator under the provisions of Article 478, paragraphs (2) through (4), the court may prescribe the amount of the remuneration that the liquidating stock companies pay to relevant liquidator.
裁判所は、第四百七十八条第二項から第四項までの規定により清算人を選任した場合には、清算株式会社が当該清算人に対して支払う報酬の額を定めることができる。
Article 486Liquidators' Liability to Liquidating Stock Companies for Damages
第四百八十六条（清算人の清算株式会社に対する損害賠償責任）
If a liquidator fails to discharge the liquidator's duties, the liquidator is liable to compensate these liquidating stock companies for any losses arising as a result.
清算人は、その任務を怠ったときは、清算株式会社に対し、これによって生じた損害を賠償する責任を負う。
If a liquidator engages in any transaction set forth in Article 356, paragraph (1), item (i) in violation of the provisions of Article 356, paragraph (1) applied mutatis mutandis under Article 482, paragraph (4), the amount of the profit obtained by the liquidator or a third party as a result of relevant transaction is presumed to be amount of the losses under the preceding paragraph.
清算人が第四百八十二条第四項において準用する第三百五十六条第一項の規定に違反して同項第一号の取引をしたときは、当該取引により清算人又は第三者が得た利益の額は、前項の損害の額と推定する。
If a liquidating stock company suffers loss as a result of the transaction provided for in Article 356, paragraph (1), item (ii) or (iii) applied mutatis mutandis under Article 482, paragraph (4), the following liquidators are presumed to have failed to discharge their duties:
第四百八十二条第四項において準用する第三百五十六条第一項第二号又は第三号の取引によって清算株式会社に損害が生じたときは、次に掲げる清算人は、その任務を怠ったものと推定する。
liquidators provided for in Article 356, paragraph (1) applied mutatis mutandis under Article 482, paragraph (4);
第四百八十二条第四項において準用する第三百五十六条第一項の清算人
liquidators who decided that the liquidating stock companies would undertake relevant transaction; or
清算株式会社が当該取引をすることを決定した清算人
liquidators who agreed to the board of liquidators' resolution to approve relevant transaction.
当該取引に関する清算人会の承認の決議に賛成した清算人
The provisions of Article 424 and Article 428, paragraph (1) apply mutatis mutandis to liquidators' liability under paragraph (1). In these cases, the phrase "Article 356, paragraph (1), item (ii) (including the cases where that item is applied mutatis mutandis under Article 419, paragraph (2))" in Article 428, paragraph (1) is deemed to be replace with "Article 356, paragraph (1), item (ii) applied mutatis mutandis under Article 482, paragraph (4)".
第四百二十四条及び第四百二十八条第一項の規定は、清算人の第一項の責任について準用する。この場合において、同条第一項中「第三百五十六条第一項第二号（第四百十九条第二項において準用する場合を含む。）」とあるのは、「第四百八十二条第四項において準用する第三百五十六条第一項第二号」と読み替えるものとする。
Article 487Liquidators' Liability to Third Parties
第四百八十七条（清算人の第三者に対する損害賠償責任）
If liquidators have acted bad faith or with gross negligence in discharging their duties, relevant liquidators are liable to compensate losses arising in a third party as a result thereof.
清算人がその職務を行うについて悪意又は重大な過失があったときは、当該清算人は、これによって第三者に生じた損害を賠償する責任を負う。
The provisions of the preceding paragraph also apply if the liquidators commit the acts provided for in the following items; provided, however, that this does not apply if relevant liquidators have proven that they did not fail to exercise due care with respect to the performance of their duties:
清算人が、次に掲げる行為をしたときも、前項と同様とする。ただし、当該清算人が当該行為をすることについて注意を怠らなかったことを証明したときは、この限りでない。
the giving of false notice with respect to important matters, the notice of which must be given when soliciting persons to subscribe for shares, share options, bonds or bonds with share options or making of false statement or records with respect to materials used for the explanation regarding the business of relevant liquidating stock company and other matters for the purpose of relevant solicitation;
the making of false statements or records with respect to important matters to be stated or recorded in the property inventory of provided for in Article 492, paragraph (1) as well as the balance sheet and administration report in Article 494, paragraph (1) and the annexed detailed statements accompanying them;
第四百九十二条第一項に規定する財産目録等並びに第四百九十四条第一項の貸借対照表及び事務報告並びにこれらの附属明細書に記載し、又は記録すべき重要な事項についての虚偽の記載又は記録
registering a false registration; or
虚偽の登記
giving false public notice.
虚偽の公告
Article 488Joint and Several Liabilities of and Company Auditors
第四百八十八条（清算人及び監査役の連帯責任）
If liquidators or company auditors are liable to compensate losses arising in the liquidating stock companies or a third party, if other liquidators or company auditors are also liable, these persons will be joint and several obligors.
清算人又は監査役が清算株式会社又は第三者に生じた損害を賠償する責任を負う場合において、他の清算人又は監査役も当該損害を賠償する責任を負うときは、これらの者は、連帯債務者とする。
In the cases provided for in the preceding paragraph, the provisions of Article 430 do not apply.
Division 4 Board of Liquidators
第四目 清算人会
Article 489Authority of Board of Liquidators
第四百八十九条（清算人会の権限等）
Board of liquidators is organized by all liquidators.
清算人会は、すべての清算人で組織する。
Board of liquidators performs the following duties:
清算人会は、次に掲げる職務を行う。
deciding the execution of the business of the company with board of liquidators;
清算人会設置会社の業務執行の決定
supervising the execution of the duties by liquidators; and
清算人の職務の執行の監督
appointing and removing representative liquidators.
代表清算人の選定及び解職
Board of liquidators must appoint representative liquidators from among the liquidators; provided, however, that this does not apply if there are other representative liquidators.
清算人会は、清算人の中から代表清算人を選定しなければならない。ただし、他に代表清算人があるときは、この限りでない。
Board of liquidators may remove representative liquidators it appointed and persons who became representative liquidators pursuant to the provisions of Article 483, paragraph (4).
清算人会は、その選定した代表清算人及び第四百八十三条第四項の規定により代表清算人となった者を解職することができる。
If the court has prescribed representative liquidators under the provisions of Article 483, paragraph (5), the board of liquidators cannot select or remove the representative liquidators.
第四百八十三条第五項の規定により裁判所が代表清算人を定めたときは、清算人会は、代表清算人を選定し、又は解職することができない。
Board of liquidators cannot delegate the decisions on the execution of important business such as the following matters to the liquidators:
清算人会は、次に掲げる事項その他の重要な業務執行の決定を清算人に委任することができない。
the disposal and acceptance of transfer of important assets;
重要な財産の処分及び譲受け
borrowing in a significant amount;
多額の借財
the appointment and dismissal of managers or other important employees;
支配人その他の重要な使用人の選任及び解任
the establishment, change or closure of branch offices and other important structures;
支店その他の重要な組織の設置、変更及び廃止
the matters set forth in Article 676, item (i)and other matters prescribed by Ministry of Justice Order as important matters regarding the solicitation of persons to subscribe for bonds; or
第六百七十六条第一号に掲げる事項その他の社債を引き受ける者の募集に関する重要な事項として法務省令で定める事項
the development of systems necessary to ensure that the execution of the duties by the liquidators comply with the laws and regulations and the articles of incorporation, and other systems prescribed by Ministry of Justice Order as the systems necessary to ensure the proper business of a liquidating stock company.
清算人の職務の執行が法令及び定款に適合することを確保するための体制その他清算株式会社の業務の適正を確保するために必要なものとして法務省令で定める体制の整備
The following liquidators execute the business of the company with board of liquidators:
次に掲げる清算人は、清算人会設置会社の業務を執行する。
a liquidator other than a representative liquidator who is appointed by the resolution of the board of liquidators as the liquidator who is to execute the business of a company with board of liquidators.
The provisions of Article 363, paragraph (2), Article 364 and Article 365 apply mutatis mutandis to a company with board of liquidators. In these cases, in Article 363, paragraph (2), the phrase "each item of the preceding paragraph" is deemed to be replaced with "each item of Article 489, paragraph (7)", the term "director" is deemed to be replaced with "liquidator", the term "board of directors" is deemed to be replaced with as "board of liquidators"; in Article 364, the term "Article 353" is deemed to be replaced with "Article 353 applied mutatis mutandis under Article 482, paragraph (4)", the term "board of directors" is deemed to be replaced with "board of liquidators"; in Article 365, paragraph (1), the term "Article 356" is deemed to be replaced with "Article 356 applied mutatis mutandis under Article 482, paragraph (4)", the term "board of directors" is deemed to be replaced with "board of liquidators"; and in Article 365, paragraph (2), the phrase "each item of Article 356, paragraph (1)" is deemed to be replaced with "each item of Article 356, paragraph (1) applied mutatis mutandis under Article 482, paragraph (4)", the term "director" is deemed to be replaced with as "liquidator", and the phrase "to the board of directors" is deemed to be replaced with "to the board of liquidators".
第三百六十三条第二項、第三百六十四条及び第三百六十五条の規定は、清算人会設置会社について準用する。この場合において、第三百六十三条第二項中「前項各号」とあるのは「第四百八十九条第七項各号」と、「取締役は」とあるのは「清算人は」と、「取締役会」とあるのは「清算人会」と、第三百六十四条中「第三百五十三条」とあるのは「第四百八十二条第四項において準用する第三百五十三条」と、「取締役会は」とあるのは「清算人会は」と、第三百六十五条第一項中「第三百五十六条」とあるのは「第四百八十二条第四項において準用する第三百五十六条」と、「「取締役会」とあるのは「「清算人会」と、同条第二項中「第三百五十六条第一項各号」とあるのは「第四百八十二条第四項において準用する第三百五十六条第一項各号」と、「取締役は」とあるのは「清算人は」と、「取締役会に」とあるのは「清算人会に」と読み替えるものとする。
Article 490Operations of Boards of Liquidators
第四百九十条（清算人会の運営）
A board of liquidators meeting is convened by each liquidator; provided, however, that, if the liquidator who convenes the board of liquidators meeting is prescribed by the articles of incorporation or the board of liquidators, relevant liquidator convenes the meeting.
清算人会は、各清算人が招集する。ただし、清算人会を招集する清算人を定款又は清算人会で定めたときは、その清算人が招集する。
In the case provided for in the proviso to the preceding paragraph, liquidators other than the liquidator prescribed under the provisions of the proviso to that paragraph (hereinafter in this paragraph referred to as "convener") may request the convener that the convener convene the board of liquidators meeting by indicating to the convener the matters that are the purpose of the board of liquidators meeting.
If the convener fails to send, within five days from the day of the request under the provisions of preceding paragraph, any notice of convocation of a board of liquidators meeting that specifies a day falling within two weeks from the day of that request as the day of the board of liquidators meeting, the liquidators who made that request may convene the board of liquidators meeting.
前項の規定による請求があった日から五日以内に、その請求があった日から二週間以内の日を清算人会の日とする清算人会の招集の通知が発せられない場合には、その請求をした清算人は、清算人会を招集することができる。
The provisions of Article 367 and Article 368 apply mutatis mutandis to the convocation of the board of liquidators meeting at a company with board of liquidators. In these cases, in Article 367, paragraph (1), the phrase "a company with company auditor, company with audit and supervisory committee and company with nominating committee, etc." is deemed to be replaced with "a company with company auditor", the phrase "any director" is deemed to be replaced with "any liquidator"; in paragraph (2) of the same Article, the phrase "to the directors (or to the convener in the case provided for in the proviso to paragraph (1) of the preceding Article)" is deemed to be replaced with "to the liquidators (or to the convener provided for in Article 490, paragraph (2) in the case provided for in the proviso to paragraph (1) of that Article)"; in paragraph (3) and paragraph (4) of the same Article, the phrase "paragraph (3) of the preceding Article" is deemed to be replaced with "Article 490, paragraph (3)"; in Article 368, paragraph (1),the term "each director" is deemed to be replaced with "each liquidator"; and in paragraph (2) of the same Article, the phrase "directors (or" is deemed to be replaced with "liquidators (or", and "directors and" is deemed to be replaced with "liquidators and".
第三百六十七条及び第三百六十八条の規定は、清算人会設置会社における清算人会の招集について準用する。この場合において、第三百六十七条第一項中「監査役設置会社、監査等委員会設置会社及び指名委員会等設置会社」とあるのは「監査役設置会社」と、「取締役が」とあるのは「清算人が」と、同条第二項中「取締役（前条第一項ただし書に規定する場合にあっては、招集権者）」とあるのは「清算人（第四百九十条第一項ただし書に規定する場合にあっては、同条第二項に規定する招集権者）」と、同条第三項及び第四項中「前条第三項」とあるのは「第四百九十条第三項」と、第三百六十八条第一項中「各取締役」とあるのは「各清算人」と、同条第二項中「取締役（」とあるのは「清算人（」と、「取締役及び」とあるのは「清算人及び」と読み替えるものとする。
The provisions of Article 369 through Article 371 apply mutatis mutandis to the resolution of board of liquidators in companies with board of liquidators. In these cases, in Article 369, paragraph (1), the term "of the directors" is deemed to be replaced with "of the liquidators"; in paragraph (2) of the same Article, the term "directors" is deemed to be replaced with "liquidators"; in paragraph (3) of the same Article, the phrase "directors and" is deemed to be replaced with "liquidators and"; in paragraph (5) of the same Article, the phrase "directors who" is deemed to be replaced with "liquidators who"; in Article 370, the phrase "directors submit" is deemed to be replaced with "liquidators submit", and the phrase "directors (" is deemed to be replaced with "liquidators ("; in Article 371, paragraph (3), the phrase "a company with company auditor, company with audit and supervisory committee, and company with nominating committee etc." is deemed to be replaced with "a company with company auditor"; and in paragraph (4) of the same Article, the phrase "officers or executive officers" is deemed to be replaced with "liquidators or company auditors".
第三百六十九条から第三百七十一条までの規定は、清算人会設置会社における清算人会の決議について準用する。この場合において、第三百六十九条第一項中「取締役の」とあるのは「清算人の」と、同条第二項中「取締役」とあるのは「清算人」と、同条第三項中「取締役及び」とあるのは「清算人及び」と、同条第五項中「取締役であって」とあるのは「清算人であって」と、第三百七十条中「取締役が」とあるのは「清算人が」と、「取締役（」とあるのは「清算人（」と、第三百七十一条第三項中「監査役設置会社、監査等委員会設置会社又は指名委員会等設置会社」とあるのは「監査役設置会社」と、同条第四項中「役員又は執行役」とあるのは「清算人又は監査役」と読み替えるものとする。
The provisions of Article 372, paragraph (1) and paragraph (2) apply mutatis mutandis to the report to board of liquidators at a company with board of liquidators. In these cases, in Article 372, paragraph (1), the phrase "the directors, accounting advisors, company auditors or financial auditors" is deemed to be replaced with "liquidators or company auditors", the phrase "directors (" is deemed to be replaced with "liquidators (", and "directors and" is deemed to be replaced with "liquidators and"; and in Article 372, paragraph (2), and the term "Article 363, paragraph (2)" is deemed to be replaced with "Article 363, paragraph (2)applied mutatis mutandis under Article 489, paragraph (8)";
第三百七十二条第一項及び第二項の規定は、清算人会設置会社における清算人会への報告について準用する。この場合において、同条第一項中「取締役、会計参与、監査役又は会計監査人」とあるのは「清算人又は監査役」と、「取締役（」とあるのは「清算人（」と、「取締役及び」とあるのは「清算人及び」と、同条第二項中「第三百六十三条第二項」とあるのは「第四百八十九条第八項において準用する第三百六十三条第二項」と読み替えるものとする。
Division 5 Application of Provisions Regarding Directors and Others
第五目 取締役等に関する規定の適用
第四百九十一条
With respect to liquidating stock companies, out of the provisions in Chapter II (excluding Article 155), Chapter III, Section 1 of Chapter IV, Article 335, paragraph (2), Article 343, paragraph (1) and paragraph (2), Article 345, paragraph (4) applied mutatis mutandis under paragraph (4) of that Article, Article 359, Section 7 and Section 8 of Chapter IV and Chapter VII, provisions regarding directors, representative directors, board of directors or company with board of directors apply to liquidators, representative liquidators, board of liquidators or company with board of liquidators as provisions regarding liquidators, representative liquidators, board of liquidators or company with board of liquidators, respectively.
清算株式会社については、第二章（第百五十五条を除く。）、第三章、第四章第一節、第三百三十五条第二項、第三百四十三条第一項及び第二項、第三百四十五条第四項において準用する同条第三項、第三百五十九条、同章第七節及び第八節並びに第七章の規定中取締役、代表取締役、取締役会又は取締役会設置会社に関する規定は、それぞれ清算人、代表清算人、清算人会又は清算人会設置会社に関する規定として清算人、代表清算人、清算人会又は清算人会設置会社に適用があるものとする。
Subsection 3 Property Inventories
第三款 財産目録等
Article 492Preparation of Inventory of Property
第四百九十二条（財産目録等の作成等）
Liquidators (or, for companies with board of liquidators, liquidators set forth in each item of Article 489, paragraph (7)) must investigate the current status of the assets of the liquidating stock companies and prepare, pursuant to the provisions of Ministry of Justice Order, the inventory of property and the balance sheet as of the day when the liquidating stock companies has fallen under any of the cases set forth in each item of Article 475 (hereinafter in this Article and following Article referred to as "inventory of property"), without delay after assuming the office.
清算人（清算人会設置会社にあっては、第四百八十九条第七項各号に掲げる清算人）は、その就任後遅滞なく、清算株式会社の財産の現況を調査し、法務省令で定めるところにより、第四百七十五条各号に掲げる場合に該当することとなった日における財産目録及び貸借対照表（以下この条及び次条において「財産目録等」という。）を作成しなければならない。
At a company with board of liquidators, the inventory of property must be approved by the board of liquidators.
Liquidators must submit or provide the inventory of property (or, if the provisions of the preceding paragraph apply, the inventory of property approved under that paragraph) to the shareholders meeting and obtain the approval of the same.
A liquidating stock company must retain its inventory of property from the time of the preparation of relevant inventory of property until the registration completion of the liquidation at the location of its head office.
Article 493Order to Submit Inventory of Property
第四百九十三条（財産目録等の提出命令）
The court may, in response to a petition or ex officio, order the parties to a lawsuit to submit the inventory of property, in whole or in part.
裁判所は、申立てにより又は職権で、訴訟の当事者に対し、財産目録等の全部又は一部の提出を命ずることができる。