# 会社法 / Companies Act — 第百六十七条 (Article 167)

- 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: 第百六十七条 (Article 167)（効力の発生） — address `art-167`
- Text in force since: 2026-08-12
- URL (the page that opens at this provision): https://japanlaw.org/en/companies-act/art-167
- Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/417AC0000000086/art-167
- 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.

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### 第百六十七条（効力の発生） — (Effectuation)
<sup>caption: Ministry of Justice translation — Japanese Law Translation Database System</sup>
<sup>art-167 · https://japanlaw.org/en/companies-act/art-167 · https://japanlaw.org/l/417AC0000000086/art-167</sup>

        **第一項**  株式会社は、前条第一項の規定による請求の日に、その請求に係る取得請求権付株式を取得する。
        <sup>art-167/par-1 · https://japanlaw.org/en/companies-act/art-167/par-1 · https://japanlaw.org/l/417AC0000000086/art-167/par-1</sup>
        A stock company acquires the shares with put options relating to a demand pursuant to the provisions of paragraph (1) of the preceding Article on the day of relevant demand.
        <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

        **第二項**  次の各号に掲げる場合には、前条第一項の規定による請求をした株主は、その請求の日に、第百七条第二項第二号（種類株式発行会社にあっては、第百八条第二項第五号）に定める事項についての定めに従い、当該各号に定める者となる。
        <sup>art-167/par-2 · https://japanlaw.org/en/companies-act/art-167/par-2 · https://japanlaw.org/l/417AC0000000086/art-167/par-2</sup>
        In the cases set forth in the following items, a shareholder who submits a demand pursuant to the provisions of paragraph (1) of the preceding Article becomes a person specified in each of those items in accordance with the provisions with respect to the matters provided for in Article 107, paragraph (2), item (ii) (or, for a company with class shares, Article 108, paragraph (2), item (v)) on the day of the demand:
        <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

          **一**  第百七条第二項第二号ロに掲げる事項についての定めがある場合　同号ロの社債の社債権者
          <sup>art-167/par-2/item-1 · https://japanlaw.org/en/companies-act/art-167/par-2/item-1 · https://japanlaw.org/l/417AC0000000086/art-167/par-2/item-1</sup>
          if there are provisions on the matters set forth in Article 107, paragraph (2), item (ii), (b):holders of the bonds referred to (b) of that item;
          <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

          **二**  第百七条第二項第二号ハに掲げる事項についての定めがある場合　同号ハの新株予約権の新株予約権者
          <sup>art-167/par-2/item-2 · https://japanlaw.org/en/companies-act/art-167/par-2/item-2 · https://japanlaw.org/l/417AC0000000086/art-167/par-2/item-2</sup>
          if there are provisions on the matters set forth in Article 107, paragraph (2), item (ii), (c):share option holders referred to (c) of that item;
          <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

          **三**  第百七条第二項第二号ニに掲げる事項についての定めがある場合　同号ニの新株予約権付社債についての社債の社債権者及び当該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
          <sup>art-167/par-2/item-3 · https://japanlaw.org/en/companies-act/art-167/par-2/item-3 · https://japanlaw.org/l/417AC0000000086/art-167/par-2/item-3</sup>
          if there are provisions on the matters set forth in Article 107, paragraph (2), item (ii), (d):holders of bonds constituting the bonds with share option referred to in (d) of that item, and the holders of share options attached to those bonds;
          <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

          **四**  第百八条第二項第五号ロに掲げる事項についての定めがある場合　同号ロの他の株式の株主
          <sup>art-167/par-2/item-4 · https://japanlaw.org/en/companies-act/art-167/par-2/item-4 · https://japanlaw.org/l/417AC0000000086/art-167/par-2/item-4</sup>
          if there are provisions on the matters set forth in Article 108, paragraph (2), item (v), (b):holders of the relevant other shares under (b) of that item.
          <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

        **第三項**  前項第四号に掲げる場合において、同号に規定する他の株式の数に一株に満たない端数があるときは、これを切り捨てるものとする。この場合においては、株式会社は、定款に別段の定めがある場合を除き、次の各号に掲げる場合の区分に応じ、当該各号に定める額にその端数を乗じて得た額に相当する金銭を前条第一項の規定による請求をした株主に対して交付しなければならない。
        <sup>art-167/par-3 · https://japanlaw.org/en/companies-act/art-167/par-3 · https://japanlaw.org/l/417AC0000000086/art-167/par-3</sup>
        In the cases provided for in item (iv) of the preceding paragraph, if the number of the relevant other shares provided for in that item includes a fractional share, it is to be rounded off. In these cases, unless otherwise provided in the articles of incorporation, the stock company must, in accordance with the categories of the cases set forth in the following items, deliver to the shareholders who submitted demands pursuant to the provisions of paragraph (1) of the preceding Article the monies in the amount equivalent to the amount obtained by multiplying the amount provided for in each of these items by the fractional share:
        <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

          **一**  当該株式が市場価格のある株式である場合　当該株式一株の市場価格として法務省令で定める方法により算定される額
          <sup>art-167/par-3/item-1 · https://japanlaw.org/en/companies-act/art-167/par-3/item-1 · https://japanlaw.org/l/417AC0000000086/art-167/par-3/item-1</sup>
          if relevant shares are shares with a market price:the amount calculated by the method prescribed by Ministry of Justice Order as the amount of the market price of one relevant share;
          <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

          **二**  前号に掲げる場合以外の場合　一株当たり純資産額
          <sup>art-167/par-3/item-2 · https://japanlaw.org/en/companies-act/art-167/par-3/item-2 · https://japanlaw.org/l/417AC0000000086/art-167/par-3/item-2</sup>
          in cases other than the cases set forth in the preceding item:the amount of net assets per share.
          <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

        **第四項**  前項の規定は、当該株式会社の社債及び新株予約権について端数がある場合について準用する。この場合において、同項第二号中「一株当たり純資産額」とあるのは、「法務省令で定める額」と読み替えるものとする。
        <sup>art-167/par-4 · https://japanlaw.org/en/companies-act/art-167/par-4 · https://japanlaw.org/l/417AC0000000086/art-167/par-4</sup>
        The provisions of the preceding paragraph apply mutatis mutandis to cases where there is a fractional share with respect to the bonds and share options of the stock company. In these cases, the term "amount of net assets per share" in item (ii) of that paragraph is deemed to be replaced with "the amount prescribed by Ministry of Justice Order".
        <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

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## Cites
- art-167/par-1: 前条第一項 → 会社法 第百六十六条第一項 (Article 166, paragraph (1)), art-166/par-1 — https://japanlaw.org/en/companies-act/art-166/par-1 · https://japanlaw.org/l/417AC0000000086/art-166/par-1
- art-167/par-2: 前条第一項 → 会社法 第百六十六条第一項 (Article 166, paragraph (1)), art-166/par-1 — https://japanlaw.org/en/companies-act/art-166/par-1 · https://japanlaw.org/l/417AC0000000086/art-166/par-1
- art-167/par-2: 第百七条第二項第二号 → 会社法 第百七条第二項第二号 (Article 107, paragraph (2), item (ii)), art-107/par-2/item-2 — https://japanlaw.org/en/companies-act/art-107/par-2/item-2 · https://japanlaw.org/l/417AC0000000086/art-107/par-2/item-2
- art-167/par-2: 第百八条第二項第五号 → 会社法 第百八条第二項第五号 (Article 108, paragraph (2), item (v)), art-108/par-2/item-5 — https://japanlaw.org/en/companies-act/art-108/par-2/item-5 · https://japanlaw.org/l/417AC0000000086/art-108/par-2/item-5
- art-167/par-2/item-1: 第百七条第二項第二号 → 会社法 第百七条第二項第二号 (Article 107, paragraph (2), item (ii)), art-107/par-2/item-2 — https://japanlaw.org/en/companies-act/art-107/par-2/item-2 · https://japanlaw.org/l/417AC0000000086/art-107/par-2/item-2
- art-167/par-2/item-2: 第百七条第二項第二号 → 会社法 第百七条第二項第二号 (Article 107, paragraph (2), item (ii)), art-107/par-2/item-2 — https://japanlaw.org/en/companies-act/art-107/par-2/item-2 · https://japanlaw.org/l/417AC0000000086/art-107/par-2/item-2
- art-167/par-2/item-3: 第百七条第二項第二号 → 会社法 第百七条第二項第二号 (Article 107, paragraph (2), item (ii)), art-107/par-2/item-2 — https://japanlaw.org/en/companies-act/art-107/par-2/item-2 · https://japanlaw.org/l/417AC0000000086/art-107/par-2/item-2
- art-167/par-2/item-4: 第百八条第二項第五号 → 会社法 第百八条第二項第五号 (Article 108, paragraph (2), item (v)), art-108/par-2/item-5 — https://japanlaw.org/en/companies-act/art-108/par-2/item-5 · https://japanlaw.org/l/417AC0000000086/art-108/par-2/item-5
- art-167/par-3: 前項第四号 → 会社法 第百六十七条第二項第四号 (Article 167, paragraph (2), item (iv)), art-167/par-2/item-4 — https://japanlaw.org/en/companies-act/art-167/par-2/item-4 · https://japanlaw.org/l/417AC0000000086/art-167/par-2/item-4
- art-167/par-3: 前条第一項 → 会社法 第百六十六条第一項 (Article 166, paragraph (1)), art-166/par-1 — https://japanlaw.org/en/companies-act/art-166/par-1 · https://japanlaw.org/l/417AC0000000086/art-166/par-1
- art-167/par-3/item-2: 前号 → 会社法 第百六十七条第三項第一号 (Article 167, paragraph (3), item (i)), art-167/par-3/item-1 — https://japanlaw.org/en/companies-act/art-167/par-3/item-1 · https://japanlaw.org/l/417AC0000000086/art-167/par-3/item-1
- art-167/par-4: 前項 → 会社法 第百六十七条第三項 (Article 167, paragraph (3)), art-167/par-3 — https://japanlaw.org/en/companies-act/art-167/par-3 · https://japanlaw.org/l/417AC0000000086/art-167/par-3
- art-167/par-4: 同項第二号 → 会社法 第百六十七条第三項第二号 (Article 167, paragraph (3), item (ii)), art-167/par-3/item-2 — https://japanlaw.org/en/companies-act/art-167/par-3/item-2 · https://japanlaw.org/l/417AC0000000086/art-167/par-3/item-2

## Cited by

6 provisions cite this one. No official source publishes this direction.

- 会社法 第百十四条第二項第一号（発行可能種類株式総数） — https://japanlaw.org/en/companies-act/art-114/par-2/item-1 · https://japanlaw.org/l/417AC0000000086/art-114/par-2/item-1
- 会社法 第百五十一条第一項第一号（株式の質入れの効果） — https://japanlaw.org/en/companies-act/art-151/par-1/item-1 · https://japanlaw.org/l/417AC0000000086/art-151/par-1/item-1
- 会社法 第百六十七条第三項（効力の発生） — https://japanlaw.org/en/companies-act/art-167/par-3 · https://japanlaw.org/l/417AC0000000086/art-167/par-3
- 会社法 第百六十七条第三項第二号（効力の発生） — https://japanlaw.org/en/companies-act/art-167/par-3/item-2 · https://japanlaw.org/l/417AC0000000086/art-167/par-3/item-2
- 会社法 第百六十七条第四項（効力の発生） — https://japanlaw.org/en/companies-act/art-167/par-4 · https://japanlaw.org/l/417AC0000000086/art-167/par-4
- 会社法 第四百六十五条第一項第四号（欠損が生じた場合の責任） — https://japanlaw.org/en/companies-act/art-465/par-1/item-4 · https://japanlaw.org/l/417AC0000000086/art-465/par-1/item-4

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## 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