# 会社法 / Companies Act — 第五百三十八条 (Article 538) This is the Markdown twin of https://japanlaw.org/en/companies-act/art-538. Every law, and how to address a provision: https://japanlaw.org/llms.txt. The same laws as MCP tools (no sign-in): https://japanlaw.org/mcp. - 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: 第五百三十八条 (Article 538)（換価の方法） — address `art-538` - Text in force since: 2026-08-12 - URL (the page that opens at this provision): https://japanlaw.org/en/companies-act/art-538 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/417AC0000000086/art-538 - 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. --- ### 第五百三十八条（換価の方法） — (Method of Conversion into Cash) caption: Ministry of Justice translation — Japanese Law Translation Database System art-538 · https://japanlaw.org/en/companies-act/art-538 · https://japanlaw.org/l/417AC0000000086/art-538 **第一項** 清算株式会社は、民事執行法その他強制執行の手続に関する法令の規定により、その財産の換価をすることができる。この場合においては、第五百三十五条第一項第一号の規定は、適用しない。 art-538/par-1 · https://japanlaw.org/en/companies-act/art-538/par-1 · https://japanlaw.org/l/417AC0000000086/art-538/par-1 A liquidating stock company may convert its assets into cash pursuant to the provisions of the Civil Execution Act and other laws and regulations on judicial enforcement procedures. In these cases, the provisions of Article 535, paragraph (1), item (i) do not apply. Ministry of Justice translation — Japanese Law Translation Database System **第二項** 清算株式会社は、民事執行法その他強制執行の手続に関する法令の規定により、第五百二十二条第二項に規定する担保権（以下この条及び次条において単に「担保権」という。）の目的である財産の換価をすることができる。この場合においては、当該担保権を有する者（以下この条及び次条において「担保権者」という。）は、その換価を拒むことができない。 art-538/par-2 · https://japanlaw.org/en/companies-act/art-538/par-2 · https://japanlaw.org/l/417AC0000000086/art-538/par-2 A liquidating stock company may convert the assets that underlie the security interest provided for in Article 522, paragraph (2) (hereinafter in this Article and in the following Article simply referred to as "security interest") into cash pursuant to the provisions of the Civil Execution Act and other laws and regulations on judicial enforcement procedures. In these cases, a person who holds relevant security interest (hereinafter in this Article and in the following Article simply referred to as "security interest holder") may not refuse the conversion into cash. Ministry of Justice translation — Japanese Law Translation Database System **第三項** 前二項の場合には、民事執行法第六十三条及び第百二十九条（これらの規定を同法その他強制執行の手続に関する法令において準用する場合を含む。）の規定は、適用しない。 art-538/par-3 · https://japanlaw.org/en/companies-act/art-538/par-3 · https://japanlaw.org/l/417AC0000000086/art-538/par-3 In the cases of the preceding two paragraphs, the provisions of Article 63 and Article 129 of the Civil Execution Act (including the cases where those provisions are applied mutatis mutandis under that act and other laws and regulations on judicial enforcement procedures) do not apply. Ministry of Justice translation — Japanese Law Translation Database System **第四項** 第二項の場合において、担保権者が受けるべき金額がまだ確定していないときは、清算株式会社は、代金を別に寄託しなければならない。この場合においては、担保権は、寄託された代金につき存する。 art-538/par-4 · https://japanlaw.org/en/companies-act/art-538/par-4 · https://japanlaw.org/l/417AC0000000086/art-538/par-4 If, in the case of paragraph (2), the amount that the security interest holder is to receive is not fixed yet, the liquidating stock company must deposit the proceeds separately. In these cases, the security interest exists with respect to the proceeds so deposited. Ministry of Justice translation — Japanese Law Translation Database System --- ## Cites - art-538/par-1: 第五百三十五条第一項第一号 → 会社法 第五百三十五条第一項第一号 (Article 535, paragraph (1), item (i)), art-535/par-1/item-1 — https://japanlaw.org/en/companies-act/art-535/par-1/item-1 · https://japanlaw.org/l/417AC0000000086/art-535/par-1/item-1 - art-538/par-2: 第五百二十二条第二項 → 会社法 第五百二十二条第二項 (Article 522, paragraph (2)), art-522/par-2 — https://japanlaw.org/en/companies-act/art-522/par-2 · https://japanlaw.org/l/417AC0000000086/art-522/par-2 - art-538/par-2: この条 → 会社法 第五百三十八条 (Article 538), art-538 — https://japanlaw.org/en/companies-act/art-538 · https://japanlaw.org/l/417AC0000000086/art-538 - art-538/par-2: 次条 → 会社法 第五百三十九条 (Article 539), art-539 — https://japanlaw.org/en/companies-act/art-539 · https://japanlaw.org/l/417AC0000000086/art-539 - art-538/par-3: 前二項 → 会社法 第五百三十八条第一項 (Article 538, paragraph (1)), art-538/par-1 — https://japanlaw.org/en/companies-act/art-538/par-1 · https://japanlaw.org/l/417AC0000000086/art-538/par-1 - art-538/par-3: 前二項 → 会社法 第五百三十八条第二項 (Article 538, paragraph (2)), art-538/par-2 — https://japanlaw.org/en/companies-act/art-538/par-2 · https://japanlaw.org/l/417AC0000000086/art-538/par-2 - art-538/par-3: 民事執行法第六十三条 → 民事執行法 第六十三条 (Article 63), art-63 — https://japanlaw.org/en/civil-enforcement-act/art-63 · https://japanlaw.org/l/354AC0000000004/art-63 - art-538/par-3: 第百二十九条 → 民事執行法 第百二十九条 (Article 129), art-129 — https://japanlaw.org/en/civil-enforcement-act/art-129 · https://japanlaw.org/l/354AC0000000004/art-129 - art-538/par-4: 第二項 → 会社法 第五百三十八条第二項 (Article 538, paragraph (2)), art-538/par-2 — https://japanlaw.org/en/companies-act/art-538/par-2 · https://japanlaw.org/l/417AC0000000086/art-538/par-2 ## Cited by 3 provisions cite this one. No official source publishes this direction. - 会社法 第五百三十八条第二項（換価の方法） — https://japanlaw.org/en/companies-act/art-538/par-2 · https://japanlaw.org/l/417AC0000000086/art-538/par-2 - 会社法 第五百三十八条第三項（換価の方法） — https://japanlaw.org/en/companies-act/art-538/par-3 · https://japanlaw.org/l/417AC0000000086/art-538/par-3 - 会社法 第五百三十八条第四項（換価の方法） — https://japanlaw.org/en/companies-act/art-538/par-4 · https://japanlaw.org/l/417AC0000000086/art-538/par-4 --- ## 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 223 — 会社法 — structure, counts, cross-references and defined terms, computed 2026-09-17