# 会社法 / Companies Act — 第二百八十五条 (Article 285) - 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: 第二百八十五条 (Article 285)（不公正な払込金額で新株予約権を引き受けた者等の責任） — address `art-285` - Text in force since: 2026-08-12 - URL (the page that opens at this provision): https://japanlaw.org/en/companies-act/art-285 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/417AC0000000086/art-285 - 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. --- ### 第二百八十五条（不公正な払込金額で新株予約権を引き受けた者等の責任） — (Liabilities of Persons Who Subscribed for Share Options with Unfair Amount to Be Paid in) caption: Ministry of Justice translation — Japanese Law Translation Database System art-285 · https://japanlaw.org/en/companies-act/art-285 · https://japanlaw.org/l/417AC0000000086/art-285 **第一項** 新株予約権を行使した新株予約権者は、次の各号に掲げる場合には、株式会社に対し、当該各号に定める額を支払う義務を負う。 art-285/par-1 · https://japanlaw.org/en/companies-act/art-285/par-1 · https://japanlaw.org/l/417AC0000000086/art-285/par-1 In a case as set forth in one of the following items, the share option holder exercising the share option is liable to the stock company for payment of the amount provided for in the relevant item: Ministry of Justice translation — Japanese Law Translation Database System **一** 第二百三十八条第一項第二号に規定する場合において、募集新株予約権につき金銭の払込みを要しないこととすることが著しく不公正な条件であるとき（取締役（指名委員会等設置会社にあっては、取締役又は執行役。次号において同じ。）と通じて新株予約権を引き受けた場合に限る。）　当該新株予約権の公正な価額 art-285/par-1/item-1 · https://japanlaw.org/en/companies-act/art-285/par-1/item-1 · https://japanlaw.org/l/417AC0000000086/art-285/par-1/item-1 in the cases provided for in Article 238, paragraph (1), item (ii), if the arrangement that there is no requirement for monies to be paid in for share options for subscription is a condition that is extremely unfair (limited to the cases where the share option holder subscribed for the share options in collusion with directors (or, directors or executive officers for a company with nominating committee, etc.; the same applies in the following item)):the fair value of relevant share options; Ministry of Justice translation — Japanese Law Translation Database System **二** 第二百三十八条第一項第三号に規定する場合において、取締役と通じて著しく不公正な払込金額で新株予約権を引き受けたとき　当該払込金額と当該新株予約権の公正な価額との差額に相当する金額 art-285/par-1/item-2 · https://japanlaw.org/en/companies-act/art-285/par-1/item-2 · https://japanlaw.org/l/417AC0000000086/art-285/par-1/item-2 in the cases provided for in Article 238, paragraph (1), item (iii), if the share option holder subscribed for the share options at an amount to be paid in that is extremely unfair, in collusion with directors:the amount equivalent to the difference between relevant amount to be paid in and the fair value of relevant share options; Ministry of Justice translation — Japanese Law Translation Database System **三** 第二百八十二条第一項の規定により株主となった時におけるその給付した現物出資財産の価額がこれについて定められた第二百三十六条第一項第三号の価額に著しく不足する場合　当該不足額 art-285/par-1/item-3 · https://japanlaw.org/en/companies-act/art-285/par-1/item-3 · https://japanlaw.org/l/417AC0000000086/art-285/par-1/item-3 if the value of the property contributed in kind that the share option holder tendered when becoming a shareholder pursuant to the provisions of Article 282, paragraph (1) is extremely short of the value provided for under Article 236, paragraph (1), item (iii) with respect to the property contributed in kind:the amount of relevant shortfall. Ministry of Justice translation — Japanese Law Translation Database System **第二項** 前項第三号に掲げる場合において、現物出資財産を給付した新株予約権者が当該現物出資財産の価額がこれについて定められた第二百三十六条第一項第三号の価額に著しく不足することにつき善意でかつ重大な過失がないときは、新株予約権の行使に係る意思表示を取り消すことができる。 art-285/par-2 · https://japanlaw.org/en/companies-act/art-285/par-2 · https://japanlaw.org/l/417AC0000000086/art-285/par-2 In the cases provided for in item (iii) of the preceding paragraph, if the share option holder that tendered the property contributed in kind has acted in good faith and without gross negligence as to the fact that the value of relevant property contributed in kind is extremely short of the value provided for under Article 236, paragraph (1), item (iii) with respect to the property contributed in kind, the share option holder may rescind the manifestation of intention relating to the exercise of the share options. Ministry of Justice translation — Japanese Law Translation Database System --- ## Cites - art-285/par-1/item-1: 第二百三十八条第一項第二号 → 会社法 第二百三十八条第一項第二号 (Article 238, paragraph (1), item (ii)), art-238/par-1/item-2 — https://japanlaw.org/en/companies-act/art-238/par-1/item-2 · https://japanlaw.org/l/417AC0000000086/art-238/par-1/item-2 - art-285/par-1/item-1: 次号 → 会社法 第二百八十五条第一項第二号 (Article 285, paragraph (1), item (ii)), art-285/par-1/item-2 — https://japanlaw.org/en/companies-act/art-285/par-1/item-2 · https://japanlaw.org/l/417AC0000000086/art-285/par-1/item-2 - art-285/par-1/item-2: 第二百三十八条第一項第三号 → 会社法 第二百三十八条第一項第三号 (Article 238, paragraph (1), item (iii)), art-238/par-1/item-3 — https://japanlaw.org/en/companies-act/art-238/par-1/item-3 · https://japanlaw.org/l/417AC0000000086/art-238/par-1/item-3 - art-285/par-1/item-3: 第二百八十二条第一項 → 会社法 第二百八十二条第一項 (Article 282, paragraph (1)), art-282/par-1 — https://japanlaw.org/en/companies-act/art-282/par-1 · https://japanlaw.org/l/417AC0000000086/art-282/par-1 - art-285/par-1/item-3: 第二百三十六条第一項第三号 → 会社法 第二百三十六条第一項第三号 (Article 236, paragraph (1), item (iii)), art-236/par-1/item-3 — https://japanlaw.org/en/companies-act/art-236/par-1/item-3 · https://japanlaw.org/l/417AC0000000086/art-236/par-1/item-3 - art-285/par-2: 前項第三号 → 会社法 第二百八十五条第一項第三号 (Article 285, paragraph (1), item (iii)), art-285/par-1/item-3 — https://japanlaw.org/en/companies-act/art-285/par-1/item-3 · https://japanlaw.org/l/417AC0000000086/art-285/par-1/item-3 - art-285/par-2: 第二百三十六条第一項第三号 → 会社法 第二百三十六条第一項第三号 (Article 236, paragraph (1), item (iii)), art-236/par-1/item-3 — https://japanlaw.org/en/companies-act/art-236/par-1/item-3 · https://japanlaw.org/l/417AC0000000086/art-236/par-1/item-3 ## Cited by 6 provisions cite this one. No official source publishes this direction. - 会社法 第二百八十五条第一項第一号（不公正な払込金額で新株予約権を引き受けた者等の責任） — https://japanlaw.org/en/companies-act/art-285/par-1/item-1 · https://japanlaw.org/l/417AC0000000086/art-285/par-1/item-1 - 会社法 第二百八十五条第二項（不公正な払込金額で新株予約権を引き受けた者等の責任） — https://japanlaw.org/en/companies-act/art-285/par-2 · https://japanlaw.org/l/417AC0000000086/art-285/par-2 - 会社法 第二百八十六条第一項（出資された財産等の価額が不足する場合の取締役等の責任） — https://japanlaw.org/en/companies-act/art-286/par-1 · https://japanlaw.org/l/417AC0000000086/art-286/par-1 - 会社法 第二百八十六条第三項（出資された財産等の価額が不足する場合の取締役等の責任） — https://japanlaw.org/en/companies-act/art-286/par-3 · https://japanlaw.org/l/417AC0000000086/art-286/par-3 - 会社法 第二百八十六条第四項（出資された財産等の価額が不足する場合の取締役等の責任） — https://japanlaw.org/en/companies-act/art-286/par-4 · https://japanlaw.org/l/417AC0000000086/art-286/par-4 - 会社法 第八百四十七条第一項（株主による責任追及等の訴え） — https://japanlaw.org/en/companies-act/art-847/par-1 · https://japanlaw.org/l/417AC0000000086/art-847/par-1 --- ## 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