# 会社法 / Companies Act — 第百十八条 (Article 118) - Law: 会社法 (Companies Act), 平成十七年法律第八十六号 - English title "Companies Act": Ministry of Justice translation - Kind: Act — the distinction between 法律 (Act), 政令 (Cabinet Order), 省令 (Ministerial Order) and 条例 (local ordinance) decides who may issue it and what it may say. - Provision: 第百十八条 (Article 118)（新株予約権買取請求） — address `art-118` - Text in force since: 2026-08-12 - URL (the page that opens at this provision): https://japanlaw.org/en/companies-act/art-118 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/417AC0000000086/art-118 - Every provision below carries its address and both URLs on the line under it. - Japanese text: e-Gov 法令検索, Digital Agency (デジタル庁). English: as marked on each line below. Only the Japanese as published by the government has legal effect; the text below is a copy of it. Every English rendering below is a translation and says which kind: the Ministry of Justice's translation, or this site's machine translation, whose model and date the Sources list names. They are never merged and never substituted for one another. --- ### 第百十八条（新株予約権買取請求） — (Exercise of Appraisal Rights on Share Options) caption: Ministry of Justice translation — Japanese Law Translation Database System art-118 · https://japanlaw.org/en/companies-act/art-118 · https://japanlaw.org/l/417AC0000000086/art-118 **第一項** 次の各号に掲げる定款の変更をする場合には、当該各号に定める新株予約権の新株予約権者は、株式会社に対し、自己の有する新株予約権を公正な価格で買い取ることを請求することができる。 art-118/par-1 · https://japanlaw.org/en/companies-act/art-118/par-1 · https://japanlaw.org/l/417AC0000000086/art-118/par-1 If it is intended to effect any amendment to articles of incorporation set forth in the following items, the holders of share options provided for in any item may demand that the stock company purchase, at a fair price, the share options that they hold: Ministry of Justice translation — Japanese Law Translation Database System **一** その発行する全部の株式の内容として第百七条第一項第一号に掲げる事項についての定めを設ける定款の変更　全部の新株予約権 art-118/par-1/item-1 · https://japanlaw.org/en/companies-act/art-118/par-1/item-1 · https://japanlaw.org/l/417AC0000000086/art-118/par-1/item-1 if it is intended to effect an amendment to the articles of incorporation to create a provision on matters set forth in Article 107, paragraph (1), item (i) as a feature of all shares issued by a stock company:all share options; Ministry of Justice translation — Japanese Law Translation Database System **二** ある種類の株式の内容として第百八条第一項第四号又は第七号に掲げる事項についての定款の定めを設ける定款の変更　当該種類の株式を目的とする新株予約権 art-118/par-1/item-2 · https://japanlaw.org/en/companies-act/art-118/par-1/item-2 · https://japanlaw.org/l/417AC0000000086/art-118/par-1/item-2 if it is intended to effect an amendment to the articles of incorporation to create provisions on matters set forth in Article 108, paragraph (1), item (iv) or (vii) as a feature of a certain class of shares:the share options for which shares of relevant class are the underlying shares. Ministry of Justice translation — Japanese Law Translation Database System **第二項** 新株予約権付社債に付された新株予約権の新株予約権者は、前項の規定による請求（以下この節において「新株予約権買取請求」という。）をするときは、併せて、新株予約権付社債についての社債を買い取ることを請求しなければならない。ただし、当該新株予約権付社債に付された新株予約権について別段の定めがある場合は、この限りでない。 art-118/par-2 · https://japanlaw.org/en/companies-act/art-118/par-2 · https://japanlaw.org/l/417AC0000000086/art-118/par-2 If holders of the share options attached to bonds with share option intend to make the demand under the preceding paragraph (hereinafter in this Section referred to as the "exercise of appraisal rights on share options"), they must also demand that the stock company purchase the bonds with respect to bonds with share option; provided, however, that this does not apply if it is otherwise provided for with respect to the share options attached to bonds with share option. Ministry of Justice translation — Japanese Law Translation Database System **第三項** 第一項各号に掲げる定款の変更をしようとする株式会社は、当該定款の変更が効力を生ずる日（以下この条及び次条において「定款変更日」という。）の二十日前までに、同項各号に定める新株予約権の新株予約権者に対し、当該定款の変更を行う旨を通知しなければならない。 art-118/par-3 · https://japanlaw.org/en/companies-act/art-118/par-3 · https://japanlaw.org/l/417AC0000000086/art-118/par-3 A stock company which intends to effect an amendment to the articles of incorporation set forth in each item of paragraph (1) must give notice to the holders of share options provided for in each item of that paragraph, no later than twenty days prior to the day when relevant amendment to the articles of incorporation becomes effective (hereinafter in this Article and in the following Article referred to as "day of amendment to articles of incorporation"), to the effect that relevant amendment to the articles of incorporation is to be effected. Ministry of Justice translation — Japanese Law Translation Database System **第四項** 前項の規定による通知は、公告をもってこれに代えることができる。 art-118/par-4 · https://japanlaw.org/en/companies-act/art-118/par-4 · https://japanlaw.org/l/417AC0000000086/art-118/par-4 A public notice may be substituted for the notice pursuant to the provisions of the preceding paragraph. Ministry of Justice translation — Japanese Law Translation Database System **第五項** 新株予約権買取請求は、定款変更日の二十日前の日から定款変更日の前日までの間に、その新株予約権買取請求に係る新株予約権の内容及び数を明らかにしてしなければならない。 art-118/par-5 · https://japanlaw.org/en/companies-act/art-118/par-5 · https://japanlaw.org/l/417AC0000000086/art-118/par-5 To exercise appraisal rights on share options, the share option holder must indicate the features and number of the share options with regard to which the holder is exercising the appraisal rights, between twenty days prior to the day of amendment to articles of incorporation and the day immediately preceding the day of amendment to articles of incorporation. Ministry of Justice translation — Japanese Law Translation Database System **第六項** 新株予約権証券が発行されている新株予約権について新株予約権買取請求をしようとするときは、当該新株予約権の新株予約権者は、株式会社に対し、その新株予約権証券を提出しなければならない。ただし、当該新株予約権証券について非訟事件手続法（平成二十三年法律第五十一号）第百十四条に規定する公示催告の申立てをした者については、この限りでない。 art-118/par-6 · https://japanlaw.org/en/companies-act/art-118/par-6 · https://japanlaw.org/l/417AC0000000086/art-118/par-6 When intending to exercise appraisal rights on share options for which share option certificates are issued, the holder of those share options must submit the share option certificates to the stock company; provided, however, that this does not apply to a person who files a petition for public notification as prescribed in Article 114 of the Non-Contentious Cases Procedure Act (Act No. 51 of 2011). Ministry of Justice translation — Japanese Law Translation Database System **第七項** 新株予約権付社債券（第二百四十九条第二号に規定する新株予約権付社債券をいう。以下この項及び次条第八項において同じ。）が発行されている新株予約権付社債に付された新株予約権について新株予約権買取請求をしようとするときは、当該新株予約権の新株予約権者は、株式会社に対し、その新株予約権付社債券を提出しなければならない。ただし、当該新株予約権付社債券について非訟事件手続法第百十四条に規定する公示催告の申立てをした者については、この限りでない。 art-118/par-7 · https://japanlaw.org/en/companies-act/art-118/par-7 · https://japanlaw.org/l/417AC0000000086/art-118/par-7 When intending to exercise appraisal rights on share options in respect of a share option that is attached to any bonds with share options for which a bond certificate has been issued (meaning a bond certificate representing the bonds with share options as prescribed in Article 249, item (ii); hereinafter the same applies in this paragraph and paragraph (8) of the following Article), the holder of the share options must submit the bond certificate representing the bond with those share options to the stock company; provided, however, that this does not apply to a person who files a petition for public notification as prescribed in Article 114 of the Non-Contentious Cases Procedure Act. Ministry of Justice translation — Japanese Law Translation Database System **第八項** 新株予約権買取請求をした新株予約権者は、株式会社の承諾を得た場合に限り、その新株予約権買取請求を撤回することができる。 art-118/par-8 · https://japanlaw.org/en/companies-act/art-118/par-8 · https://japanlaw.org/l/417AC0000000086/art-118/par-8 Share option holders exercising appraisal rights on share options may withdraw their demands for appraisal of the share options only with the approval of the stock company. Ministry of Justice translation — Japanese Law Translation Database System **第九項** 株式会社が第一項各号に掲げる定款の変更を中止したときは、新株予約権買取請求は、その効力を失う。 art-118/par-9 · https://japanlaw.org/en/companies-act/art-118/par-9 · https://japanlaw.org/l/417AC0000000086/art-118/par-9 The demands of the share option holders exercising appraisal rights on share options lose effect if the stock company cancels the amendment to articles of incorporation provided for in the items of paragraph (1). Ministry of Justice translation — Japanese Law Translation Database System **第十項** 第二百六十条の規定は、新株予約権買取請求に係る新株予約権については、適用しない。 art-118/par-10 · https://japanlaw.org/en/companies-act/art-118/par-10 · https://japanlaw.org/l/417AC0000000086/art-118/par-10 The provisions of Article 260 do not apply to share options for the exercise of appraisal rights on share options. Ministry of Justice translation — Japanese Law Translation Database System --- ## Cites - art-118/par-1/item-1: 第百七条第一項第一号 → 会社法 第百七条第一項第一号 (Article 107, paragraph (1), item (i)), art-107/par-1/item-1 — https://japanlaw.org/en/companies-act/art-107/par-1/item-1 · https://japanlaw.org/l/417AC0000000086/art-107/par-1/item-1 - art-118/par-1/item-2: 第百八条第一項第四号 → 会社法 第百八条第一項第四号 (Article 108, paragraph (1), item (iv)), art-108/par-1/item-4 — https://japanlaw.org/en/companies-act/art-108/par-1/item-4 · https://japanlaw.org/l/417AC0000000086/art-108/par-1/item-4 - art-118/par-1/item-2: 第七号 → 会社法 第百八条第一項第七号 (Article 108, paragraph (1), item (vii)), art-108/par-1/item-7 — https://japanlaw.org/en/companies-act/art-108/par-1/item-7 · https://japanlaw.org/l/417AC0000000086/art-108/par-1/item-7 - art-118/par-2: 前項 → 会社法 第百十八条第一項 (Article 118, paragraph (1)), art-118/par-1 — https://japanlaw.org/en/companies-act/art-118/par-1 · https://japanlaw.org/l/417AC0000000086/art-118/par-1 - art-118/par-3: 第一項 → 会社法 第百十八条第一項 (Article 118, paragraph (1)), art-118/par-1 — https://japanlaw.org/en/companies-act/art-118/par-1 · https://japanlaw.org/l/417AC0000000086/art-118/par-1 - art-118/par-3: この条 → 会社法 第百十八条 (Article 118), art-118 — https://japanlaw.org/en/companies-act/art-118 · https://japanlaw.org/l/417AC0000000086/art-118 - art-118/par-3: 次条 → 会社法 第百十九条 (Article 119), art-119 — https://japanlaw.org/en/companies-act/art-119 · https://japanlaw.org/l/417AC0000000086/art-119 - art-118/par-4: 前項 → 会社法 第百十八条第三項 (Article 118, paragraph (3)), art-118/par-3 — https://japanlaw.org/en/companies-act/art-118/par-3 · https://japanlaw.org/l/417AC0000000086/art-118/par-3 - art-118/par-6: 非訟事件手続法（平成二十三年法律第五十一号）第百十四条 → e-Gov law 423AC0000000051, 第百十四条 (Article 114), art-114 — not held in this collection - art-118/par-7: 第二百四十九条第二号 → 会社法 第二百四十九条第一項第二号 (Article 249, paragraph (1), item (ii)), art-249/par-1/item-2 — https://japanlaw.org/en/companies-act/art-249/par-1/item-2 · https://japanlaw.org/l/417AC0000000086/art-249/par-1/item-2 - art-118/par-7: この項 → 会社法 第百十八条第七項 (Article 118, paragraph (7)), art-118/par-7 — https://japanlaw.org/en/companies-act/art-118/par-7 · https://japanlaw.org/l/417AC0000000086/art-118/par-7 - art-118/par-7: 次条第八項 → 会社法 第百十九条第八項 (Article 119, paragraph (8)), art-119/par-8 — https://japanlaw.org/en/companies-act/art-119/par-8 · https://japanlaw.org/l/417AC0000000086/art-119/par-8 - art-118/par-7: 非訟事件手続法第百十四条 → e-Gov law 423AC0000000051, 第百十四条 (Article 114), art-114 — not held in this collection - art-118/par-9: 第一項 → 会社法 第百十八条第一項 (Article 118, paragraph (1)), art-118/par-1 — https://japanlaw.org/en/companies-act/art-118/par-1 · https://japanlaw.org/l/417AC0000000086/art-118/par-1 - art-118/par-10: 第二百六十条 → 会社法 第二百六十条 (Article 260), art-260 — https://japanlaw.org/en/companies-act/art-260 · https://japanlaw.org/l/417AC0000000086/art-260 ## Cited by 7 provisions cite this one. No official source publishes this direction. - 会社法 第百十八条第二項（新株予約権買取請求） — https://japanlaw.org/en/companies-act/art-118/par-2 · https://japanlaw.org/l/417AC0000000086/art-118/par-2 - 会社法 第百十八条第三項（新株予約権買取請求） — https://japanlaw.org/en/companies-act/art-118/par-3 · https://japanlaw.org/l/417AC0000000086/art-118/par-3 - 会社法 第百十八条第四項（新株予約権買取請求） — https://japanlaw.org/en/companies-act/art-118/par-4 · https://japanlaw.org/l/417AC0000000086/art-118/par-4 - 会社法 第百十八条第七項（新株予約権買取請求） — https://japanlaw.org/en/companies-act/art-118/par-7 · https://japanlaw.org/l/417AC0000000086/art-118/par-7 - 会社法 第百十八条第九項（新株予約権買取請求） — https://japanlaw.org/en/companies-act/art-118/par-9 · https://japanlaw.org/l/417AC0000000086/art-118/par-9 - 会社法 第百十九条第三項（新株予約権の価格の決定等） — https://japanlaw.org/en/companies-act/art-119/par-3 · https://japanlaw.org/l/417AC0000000086/art-119/par-3 - 会社法 第二百三十八条第一項第七号（募集事項の決定） — https://japanlaw.org/en/companies-act/art-238/par-1/item-7 · https://japanlaw.org/l/417AC0000000086/art-238/par-1/item-7 --- ## Sources - e-Gov 法令検索, Digital Agency (デジタル庁) — 会社法 — the text in force from 2026-08-12 (https://laws.e-gov.go.jp/law/417AC0000000086/20260812_508AC0000000064), retrieved 2026-09-17 - Japanese Law Translation Database System, Ministry of Justice (法務省) — Companies Act — Ministry of Justice translation (part 1 of 2) (https://www.japaneselawtranslation.go.jp/en/laws/view/4481/tb), retrieved 2026-09-17 - This site's parser, version 211 — 会社法 — structure, counts, cross-references and defined terms, computed 2026-09-17