# 金融商品取引法 / Financial Instruments and Exchange Act — 第二章の三 (Chapter 2-3)

- Law: 金融商品取引法 (Financial Instruments and Exchange Act), 昭和二十三年法律第二十五号
- English title "Financial Instruments and Exchange 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: 第二章の三 (Chapter 2-3) — address `ch-2-3`
- Text: the text as amended with effect from 2027-04-01, standing until 2027-07-21 as now scheduled, since the next amendment's day is not fixed — NOT yet in force (revision 20270401_508AC0000000064)
- URL (this text's page, at this provision): https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#ch-2-3
- The same address in the text in force (its wording there may differ): https://japanlaw.org/en/financial-instruments-and-exchange-act/ch-2-3
- Every provision below carries its address and its place on this text's page 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.
The Ministry's English is given only where this text's Japanese is a wording
the Ministry translated — the same as the text in force, or for a text not yet
in force, a wording it translated ahead; every other paragraph's English is
machine translation.

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## 第二章の三　株券等の大量保有の状況に関する開示 — Chapter II-3 Disclosure of the Status of Large-Volume Holdings in Share Certificates
<sup>heading: Ministry of Justice translation — Japanese Law Translation Database System</sup>
<sup>ch-2-3 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#ch-2-3</sup>

### 第二十七条の二十三（大量保有報告書の提出） — (Submission of Statements of Large-Volume Holdings)
<sup>caption: Ministry of Justice translation — Japanese Law Translation Database System</sup>
<sup>art-27-23 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23</sup>

**第一項**  株券、新株予約権付社債券その他の政令で定める有価証券（以下この項において「株券関連有価証券」という。）で金融商品取引所に上場されているもの（流通状況がこれに準ずるものとして政令で定める株券関連有価証券を含む。）の発行者である法人が発行者（内閣府令で定める有価証券については、内閣府令で定める者。第二十七条の三十第二項を除き、以下この章及び第二十七条の三十の十一第五項において同じ。）である対象有価証券（当該対象有価証券に係るオプション（当該オプションの行使により当該行使をした者が当該オプションに係る対象有価証券の売買において買主としての地位を取得するものに限る。）を表示する第二条第一項第十九号に掲げる有価証券その他の当該対象有価証券に係る権利を表示するものとして政令で定めるものを含む。以下この章及び第二十七条の三十の十一第五項において「株券等」という。）の保有者で当該株券等に係るその株券等保有割合が百分の五を超えるもの（以下この章において「大量保有者」という。）は、内閣府令で定めるところにより、株券等保有割合に関する事項、取得資金に関する事項、保有の目的その他の内閣府令で定める事項を記載した報告書（以下「大量保有報告書」という。）を大量保有者となつた日から五日（日曜日その他政令で定める休日の日数は、算入しない。第二十七条の二十五第一項及び第二十七条の二十六において同じ。）以内に、内閣総理大臣に提出しなければならない。ただし、第四項に規定する保有株券等の総数に増加がない場合その他の内閣府令で定める場合については、この限りでない。
<sup>art-27-23/par-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-1</sup>
A holder of subject securities (including what is specified by Cabinet Order as indicating a right connected to securities set forth in Article 2, paragraph (1), item (xix) and other securities specified by Cabinet Order that indicate an option on subject securities (limited to an option that causes the person that exercises it to acquire the position of the buyer in a purchase and sale of the subject securities linked to the option) (hereinafter collectively referred to as "share certificates, etc." in this Chapter and Article 27-30-11, paragraph (5))) issued by a corporation (or, with regard to the securities specified by Cabinet Office Order, a person specified by Cabinet Office Order; hereinafter the same applies in this Chapter and Article 27-30-11, paragraph (5), except for Article 27-30, paragraph (2)) that is the issuer of share certificates, corporate bond certificates with share options, and other securities specified by Cabinet Order (hereinafter referred to as the "share-related securities" in this paragraph) that are listed on a financial instruments exchange (including the share-related securities specified by Cabinet Order as having equivalent distribution statuses to those securities), and whose ownership ratio of share certificates, etc. with respect to the relevant share certificates, etc. exceeds five percent (such a holder is hereinafter referred to as a "large-volume holder" in this Chapter) must submit a statement in which it states the particulars of its ownership ratio of share certificates, etc., the particulars of the funds for the acquisition, the purpose of the holdings, and any other particulars specified by Cabinet Office Order (such a statement is hereinafter referred to as a "statement of large-volume holdings") to the Prime Minister, pursuant to the provisions of Cabinet Office Order, within five days from the date on which it becomes a large-volume holder (Sundays and other holidays specified by Cabinet Order are not included for the purpose of counting days; the same applies in Article 27-25, paragraph (1) and Article 27-26); provided, however, that this does not apply if the total number of share certificates, etc. held which are provided for in paragraph (4) does not increase, nor does it apply in any other case specified by Cabinet Office Order.
<sup>Ministry of Justice translation with a slip corrected by this site — not the Ministry's text; the Ministry printed: "A holder of subject securities (including what is specified by Cabinet Order as indicating a right connected to securities set forth in Article 2, paragraph (1), item (xix) and other securities specified by Cabinet Order that indicate an option on subject securities (limited to an option that causes the person that exercises it to acquire the position of the buyer in a purchase and sale of the subject securities linked to the option (hereinafter collectively referred to as "share certificates, etc." in this Chapter and Article 27-30-11, paragraph (5))) issued by a corporation (or, with regard to the securities specified by Cabinet Office Order, a person specified by Cabinet Office Order; hereinafter the same applies in this Chapter and Article 27-30-11, paragraph (5), except for Article 27-30, paragraph (2)) that is the issuer of share certificates, corporate bond certificates with share options, and other securities specified by Cabinet Order (hereinafter referred to as the "share-related securities" in this paragraph) that are listed on a financial instruments exchange (including the share-related securities specified by Cabinet Order as having equivalent distribution statuses to those securities), and whose ownership ratio of share certificates, etc. with respect to the relevant share certificates, etc. exceeds five percent (such a holder is hereinafter referred to as a "large-volume holder" in this Chapter) must submit a statement in which it states the particulars of its ownership ratio of share certificates, etc., the particulars of the funds for the acquisition, the purpose of the holdings, and any other particulars specified by Cabinet Office Order (such a statement is hereinafter referred to as a "statement of large-volume holdings") to the Prime Minister, pursuant to the provisions of Cabinet Office Order, within five days from the date on which it becomes a large-volume holder (Sundays and other holidays specified by Cabinet Order are not included for the purpose of counting days; the same applies in Article 27-25, paragraph (1) and Article 27-26); provided, however, that this does not apply if the total number of share certificates, etc. held which are provided for in paragraph (4) does not increase, nor does it apply in any other case specified by Cabinet Office Order." — https://www.japaneselawtranslation.go.jp/en/laws/view/4633/tb</sup>

**第二項**  前項の「対象有価証券」とは、株券、新株予約権付社債券その他の有価証券のうち政令で定めるものをいう。
<sup>art-27-23/par-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-2</sup>
The term "subject securities" as used in the preceding paragraph means the share certificates, corporate bond certificates with share options, and other securities specified by Cabinet Order.
<sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

**第三項**  第一項の保有者には、自己又は他人（仮設人を含む。）の名義をもつて株券等を所有する者（売買その他の契約に基づき株券等の引渡請求権を有する者その他これに準ずる者として政令で定める者を含む。）のほか、次に掲げる者を含むものとする。ただし、第一号に掲げる者については、同号に規定する権限を有することを知つた日において、当該権限を有することを知つた株券等（株券等に係る権利を表示する第二条第一項第二十号に掲げる有価証券その他の内閣府令で定める有価証券を含む。以下この項及び次条において同じ。）に限り、保有者となるものとみなし、第三号に掲げる者については、同号に規定するデリバティブ取引の原資産である株券等の数を算出する計算方法として内閣府令で定める計算方法により算出された数の株券等について保有者となるものとみなす。
<sup>art-27-23/par-3 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-3</sup>
The holder referred to in paragraph (1) includes the following persons, in addition to persons that own share certificates, etc. in their own names or in the name of another person (or under a fictitious name) (including a person that holds the right to request the delivery of share certificates, etc. under a purchase and sale contract or any other contract, or any other person specified by Cabinet Order as being equivalent); provided, however, that the person set forth in item (i) is deemed to become a holder on the day on which that person comes to know that the person has the authority prescribed in that item, only within the scope of the share certificates, etc. (including the securities set forth in Article 2, paragraph (1), item (xx) indicating the rights to share certificates, etc., and other securities specified by Cabinet Office Order; hereinafter the same applies in this paragraph and the following Article) regarding which the person comes to know the person has that authority, and the person set forth in item (iii) is deemed to become a holder with regard to the number of share certificates, etc. calculated by the calculation method specified by Cabinet Office Order as a method for calculating the number of share certificates, etc. that are the underlying assets of the derivatives transaction prescribed in that item:
<sup>machine translation, not official</sup>

  **一**  金銭の信託契約その他の契約又は法律の規定に基づき、株券等の発行者の株主としての議決権その他の権利を行使することができる権限又は当該議決権その他の権利の行使について指図を行うことができる権限を有する者（次号に該当する者を除く。）であつて、当該発行者の事業活動を支配する目的を有する者
  <sup>art-27-23/par-3/item-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-3/item-1</sup>
  a person that has the authority to exercise voting rights or any other rights as a shareholder in the issuer of the share certificates, etc., or to give instructions as to the exercise of those voting rights or any other rights, based on a money trust contract or any other contract or the provisions of the law (except for a person that falls under the following item), and that has the aim of controlling the business activities of that Issuer; or
  <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

  **二**  投資一任契約その他の契約又は法律の規定に基づき、株券等に投資をするのに必要な権限を有する者
  <sup>art-27-23/par-3/item-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-3/item-2</sup>
  a person that has the necessary authority to invest in share certificates, etc., based on a discretionary investment contract or any other contract or the provisions of the law; or
  <sup>machine translation, not official</sup>

  **三**  株券等に係るデリバティブ取引に係る権利を有する者（前二号に該当する者を除く。）であつて、当該デリバティブ取引の相手方から当該株券等を取得する目的その他の政令で定める目的を有する者
  <sup>art-27-23/par-3/item-3 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-3/item-3</sup>
  a person that has a right relating to a derivatives transaction relating to share certificates, etc. (excluding a person that falls under the preceding two items) and that has the purpose of acquiring those share certificates, etc. from the person that is the other party to the derivatives transaction or any other purpose specified by Cabinet Order.
  <sup>machine translation, not official</sup>

**第四項**  第一項の「株券等保有割合」とは、株券等の保有者（同項に規定する保有者をいう。以下この章において同じ。）の保有（前項第一号若しくは第二号に規定する権限又は同項第三号に規定する権利を有する場合を含む。以下この章において同じ。）に係る当該株券等（自己株式（会社法第百十三条第四項に規定する自己株式をいう。）その他当該株券等の保有の態様その他の事情を勘案して内閣府令で定めるものを除く。以下この項において同じ。）の数（株券については内閣府令で定めるところにより計算した株式の数を、その他のものについては内閣府令で定める数をいう。以下この章において同じ。）の合計から当該株券等の発行者が発行する株券等のうち、第百六十一条の二第一項に規定する信用取引その他内閣府令で定める取引の方法により譲渡したことにより、引渡義務（共同保有者に対して負うものを除く。）を有するものの数を控除した数（以下この項及び第六項において「保有株券等の数」という。）に当該発行者が発行する株券等に係る共同保有者の保有株券等の数（保有者及び共同保有者の間で引渡請求権その他の政令で定める権利が存在する株券等の数を除く。）を加算した数（第二十七条の二十五第一項において「保有株券等の総数」という。）を、当該発行者の発行済株式の総数又はこれに準ずるものとして内閣府令で定める数に当該保有者及び共同保有者の保有する当該株券等（株券その他の内閣府令で定める有価証券を除く。）の数を加算した数で除して得た割合をいう。
<sup>art-27-23/par-4 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-4</sup>
The term "holding ratio of share certificates, etc." as used in paragraph (1) means the ratio arrived at when the number of share certificates, etc. issued by the issuer of the relevant share certificates, etc., which the holder (meaning a holder as set forth in paragraph (1); hereinafter the same applies in this Chapter) is obligated to transfer (excluding those that the holder is obligated to transfer to a joint holder) due to having transferred them through a margin transaction provided for in Article 161-2, paragraph (1) or any other transaction method specified by Cabinet Office Order, is deducted from the total number of share certificates, etc. (excluding treasury shares (meaning treasury shares as defined in Article 113, paragraph (4) of the Companies Act) and the share certificates, etc. that are specified by Cabinet Office Order in consideration of the manner in which they are held or any other circumstance; hereinafter the same applies in this paragraph) held by the holder of the relevant share certificates, etc. (meaning the number of shares calculated pursuant to the provisions of Cabinet Office Order, if they are share certificates, or the number specified by Cabinet Office Order, if they are other securities; hereinafter the same applies in this Chapter) (this includes if the holder has the authority set forth in item (i) or (ii) of the preceding paragraph or the right set forth in item (iii) of that paragraph with regard to those share certificates, etc.; hereinafter the same applies in this Chapter) (the number of share certificates, etc. after this deduction is hereinafter referred to as the "number of share certificates, etc. held" in this paragraph and paragraph (6)); the number of share certificates, etc. held by joint holders of the share certificates, etc. issued by that issuer (excluding the number of share certificates, etc. for which a right to request delivery or any other right specified by Cabinet Order exists between the holder and a joint holder) is added (the number of share certificates, etc. after this addition is hereinafter referred to as the "total number of share certificates, etc. held" in Article 27-25, paragraph (1)); and this is divided by the sum of either the total number of the issuer's issued shares or the number specified by Cabinet Office Order as being equivalent to this, and the number of share certificates, etc. that are held by the holder and the joint holders (excluding share certificates and other securities that are specified by Cabinet Office Order).
<sup>machine translation, not official</sup>

**第五項**  前項の「共同保有者」とは、株券等の保有者が、当該株券等の発行者が発行する株券等の他の保有者と共同して当該株券等を取得し、若しくは譲渡し、又は当該発行者の株主としての議決権その他の権利を行使することを合意している場合（次に掲げる要件の全てに該当する場合を除く。）における当該他の保有者をいう。
<sup>art-27-23/par-5 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-5</sup>
The term "joint holder" as used in the preceding paragraph means the other holder of the relevant share certificates, etc., in a case in which the holder of share certificates, etc. has agreed to jointly acquire or transfer that share certificates, etc., or to jointly exercise voting rights and other rights as the issuer's shareholder, together with another holder of share certificates, etc. issued by the issuer of the relevant share certificates, etc. (excluding a case that falls under all of the following requirements):
<sup>machine translation, not official</sup>

  **一**  当該保有者及び他の保有者が金融商品取引業者（第二十八条第一項に規定する第一種金融商品取引業を行う者又は同条第四項に規定する投資運用業を行う者に限る。）、銀行その他の内閣府令で定める者であること。
  <sup>art-27-23/par-5/item-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-5/item-1</sup>
  that the holder and the other holder are a financial instruments business operator (limited to a person that engages in the type-I financial instruments business prescribed in Article 28, paragraph (1) or a person that engages in the investment management business prescribed in paragraph (4) of that Article), a bank, or any other person specified by Cabinet Office Order;
  <sup>machine translation, not official</sup>

  **二**  共同して第二十七条の二十六第一項に規定する重要提案行為等を行うことを合意の目的としないこと。
  <sup>art-27-23/par-5/item-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-5/item-2</sup>
  that the purpose of the agreement is not to jointly make a material proposal prescribed in Article 27-26, paragraph (1); and
  <sup>machine translation, not official</sup>

  **三**  共同して当該発行者の株主としての議決権その他の権利を行使することの合意（個別の権利の行使ごとの合意として政令で定めるものに限る。）であること。
  <sup>art-27-23/par-5/item-3 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-5/item-3</sup>
  that it is an agreement to jointly exercise voting rights and other rights as a shareholder of the issuer (limited to an agreement specified by Cabinet Order as one made for each individual exercise of a right).
  <sup>machine translation, not official</sup>

**第六項**  株券等の保有者と当該株券等の発行者が発行する株券等の他の保有者が、株式の所有関係その他の政令で定める特別の関係にある場合においては、当該他の保有者を当該保有者に係る第四項の共同保有者とみなす。ただし、当該保有者又は他の保有者のいずれかの保有株券等の数が内閣府令で定める数以下である場合においては、この限りでない。
<sup>art-27-23/par-6 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-6</sup>
If a first holder of share certificates, etc. and another holder of share certificates, etc. that are issued by the issuer of the relevant share certificates, etc. are related to each other through a shareholding relationship or other special relationship specified by Cabinet Order, the other holder is deemed to be a joint holder referred to in paragraph (4) in relation to that holder; provided, however, that this does not apply if the number of share certificates, etc. held by either the first holder or the other holder is the number specified by Cabinet Office Order or less.
<sup>machine translation, not official</sup>

### 第二十七条の二十四（株券保有状況通知書の作成及び交付） — (Preparation and Delivery of a Written Notice of Shareholding Status)
<sup>caption: Ministry of Justice translation — Japanese Law Translation Database System</sup>
<sup>art-27-24 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-24</sup>

**第一項**  前条第三項第二号に掲げる者は、当該株券等の発行者の株主としての議決権その他の権利を行使することができる権限又は当該議決権その他の権利の行使について指図を行うことができる権限を有する顧客に対して、内閣府令で定めるところにより、毎月一回以上、当該株券等の保有状況について説明した通知書を作成し、交付しなければならない。
<sup>art-27-24/par-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-24/par-1</sup>
A person set forth in paragraph (3), item (ii) of the preceding Article, pursuant to the provisions of Cabinet Office Order, must prepare a written notice that accounts for the status of holdings in the relevant share certificates, etc. and deliver it to customers that have the authority to exercise their voting rights or any other rights as shareholders in the issuer of those share certificates, etc. or to give instructions as to the exercise of their voting rights or any other rights, at least once a month.
<sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

### 第二十七条の二十五（大量保有報告書に係る変更報告書の提出） — (Submission of a Statement of Changes to a Statement of Large-Volume Holdings)
<sup>caption: Ministry of Justice translation — Japanese Law Translation Database System</sup>
<sup>art-27-25 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-25</sup>

**第一項**  大量保有報告書を提出すべき者は、大量保有者となつた日の後に、株券等保有割合（第二十七条の二十三第四項に規定する株券等保有割合をいう。以下この章において同じ。）が百分の一以上増加し又は減少した場合（保有株券等の総数の増加又は減少を伴わない場合を除く。以下この章において同じ。）その他の大量保有報告書に記載すべき重要な事項の変更として政令で定めるものがあつた場合は、内閣府令で定めるところにより、その日から五日以内に、当該変更に係る事項に関する報告書（以下「変更報告書」という。）を内閣総理大臣に提出しなければならない。ただし、株券等保有割合が百分の五以下であることが記載された変更報告書を既に提出している場合その他の内閣府令で定める場合については、この限りでない。
<sup>art-27-25/par-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-25/par-1</sup>
If, after the day on which a person that is required to submit a statement of large-volume holdings has become a large-volume holder, the ownership ratio of share certificates, etc. (meaning the ownership ratio of share certificates, etc. set forth in Article 27-23, paragraph (4); hereinafter the same applies in this Chapter) has increased or decreased by one percent or more (unless this is not linked to an increase or decrease in the total number of share certificates, etc. held by that person; hereinafter the same applies in this Chapter), or if there has been any other change that is specified by Cabinet Order as a change in a material particular that is required to be stated in the statement of large-volume holdings, such person must submit a report on the particulars of the change (hereinafter referred to as a "statement of changes") to the Prime Minister, within five days after the day of the change, pursuant to the provisions of Cabinet Office Order; provided, however, that this does not apply to cases where a change report reporting that the holding ratio of share certificates, etc. are five percent or less has already been submitted or to other cases specified by Cabinet Office Order.
<sup>Ministry of Justice translation with a slip corrected by this site — not the Ministry's text; the Ministry printed: "If, after the day on which a person that is required to submit a statement of large-volume holdings has become a large-volume holder, the ownership ratio of share certificates, etc. (meaning the ownership ratio of share certificates, etc. set forth in Article 27-23, paragraph (4); hereinafter the same applies in this Chapter) has increased or decreased by one percent or more (unless this is not linked to an increase or decrease in the total number of share certificates, etc. held by that person; hereinafter the same applies in this Chapter), or if there has been any other change that is specified by Cabinet Order as a change in a material particular that is required to be stated in the statement of large-volume holdings, such person must submit a report on the particulars of the change (hereinafter referred to as a "statement of changes") to the Prime Minister, within five days after the day of the change, pursuant to the provisions of Cabinet Office Order; provided, however, that this does not apply that this does not apply to cases where a change report reporting that the holding ratio of share certificates, etc. are five percent or less has already been submitted or to other cases specified by Cabinet Office Order." — https://www.japaneselawtranslation.go.jp/en/laws/view/4633/tb</sup>

**第二項**  株券等保有割合が減少したことにより変更報告書を提出する者は、短期間に大量の株券等を譲渡したものとして政令で定める基準に該当する場合においては、内閣府令で定めるところにより、譲渡の相手方及び対価に関する事項（譲渡を受けた株券等が僅少である者として政令で定める者については、対価に関する事項に限る。）についても当該変更報告書に記載しなければならない。
<sup>art-27-25/par-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-25/par-2</sup>
In a case that falls under the criteria specified by Cabinet Order as a case in which a large number of share certificates, etc. have been transferred within a short period, a person that submits a statement of changes due to a decrease in the ownership ratio of share certificates, etc. must also state in that statement of changes the particulars of the party to which the share certificates, etc. have been transferred and the consideration received (with regard to a person specified by Cabinet Order as a person to whom an insignificant number of share certificates, etc. have been transferred, limited to the particulars of the consideration received), pursuant to the provisions of Cabinet Office Order.
<sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

**第三項**  大量保有報告書又は変更報告書を提出した者は、これらの書類に記載された内容が事実と相違し、又は記載すべき重要な事項若しくは誤解を生じさせないために必要な重要な事実の記載が不十分であり、若しくは欠けていると認めるときは、訂正報告書を内閣総理大臣に提出しなければならない。
<sup>art-27-25/par-3 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-25/par-3</sup>
If a person that has submitted a statement of large-volume holdings or a statement of changes finds that its content conflicts with the facts of the matter, that such a document insufficiently states or omits a statement as to a material particular that is required to be stated, or that such a document insufficiently states or omits a statement as to a material fact that is necessary to prevent it from being misleading, that person must submit an amended report to the Prime Minister.
<sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

### 第二十七条の二十六（特例対象株券等の大量保有者による報告の特例） — (Special Provisions on Reports by Large-Volume Holders of Share Certificates Subject to Special Provisions)
<sup>caption: Ministry of Justice translation — Japanese Law Translation Database System</sup>
<sup>art-27-26 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26</sup>

**第一項**  金融商品取引業者（第二十八条第一項に規定する第一種金融商品取引業を行う者又は同条第四項に規定する投資運用業を行う者に限る。以下この条において同じ。）、銀行その他の内閣府令で定める者（第三項に規定する基準日を内閣総理大臣に届け出た者に限る。）が保有する株券等で当該株券等の発行者の事業活動に重大な変更を加え、又は重大な影響を及ぼす行為として政令で定めるもの（第四項及び第五項において「重要提案行為等」という。）を行うことを保有の目的としないもの（株券等保有割合が内閣府令で定める数を超えた場合及び保有の態様その他の事情を勘案して内閣府令で定める場合を除く。）又は国、地方公共団体その他の内閣府令で定める者（第三項に規定する基準日を内閣総理大臣に届け出た者に限る。）が保有する株券等（以下この条において「特例対象株券等」という。）に係る大量保有報告書は、第二十七条の二十三第一項本文の規定にかかわらず、株券等保有割合が初めて百分の五を超えることとなつた基準日における当該株券等の保有状況に関する事項で内閣府令で定めるものを記載したものを、内閣府令で定めるところにより、当該基準日から五日以内に、内閣総理大臣に提出しなければならない。
<sup>art-27-26/par-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-1</sup>
Notwithstanding the provisions of the main clause of Article 27-23, paragraph (1), a statement of large-volume holdings in share certificates, etc. that a financial instruments business operator (limited to one that engages in type-I financial instruments business provided for in Article 28, paragraph (1), or that engages in investment management business provided for in paragraph (4) of that Article; hereinafter the same applies in this Article), a bank, or any other person specified by Cabinet Office Order (limited to one that has notified the Prime Minister of the reference date provided for in paragraph (3)) holds, but which it does not hold for the purpose of performing an act specified by Cabinet Order as a thing that materially changes or has a material impact on the business activities of the issuer of the share certificates, etc. (such an act is referred to as a "material proposal" in paragraphs (4) and (5)) (unless the ownership ratio of share certificates, etc. exceeds the number specified by Cabinet Office Order and excluding any other cases that are specified by Cabinet Office Order in consideration of the manner in which the share certificates, etc. are held and other circumstances), or which are held by the State, local government, or any other person specified by Cabinet Office Order (limited to those that have notified the Prime Minister of the reference date provided for in paragraph (3)) (such share certificates, etc. are hereinafter referred to as "share certificates, etc. subject to special provisions" in this Article) must be submitted to the Prime Minister with a statement of the particulars specified by Cabinet Office Order with regard to the status of share certificate, etc. holdings as of the reference date on which the ownership ratio of share certificates, etc. comes to exceed five percent for the first time, within five days from the reference date, pursuant to the provisions of Cabinet Office Order.
<sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

**第二項**  特例対象株券等に係る変更報告書（当該株券等が特例対象株券等以外の株券等になる場合の変更に係るものを除く。）は、前条第一項本文の規定にかかわらず、次の各号に掲げる場合の区分に応じ当該各号に定める日までに、内閣府令で定めるところにより、内閣総理大臣に提出しなければならない。
<sup>art-27-26/par-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-2</sup>
Notwithstanding the provisions of the main clause of paragraph (1) of the preceding Article, a statement of changes for share certificates, etc. subject to special rules (excluding a statement of changes for a change that occurs if the share certificates, etc. come to fall under share certificates other than share certificates, etc. subject to special provisions) must be submitted to the Prime Minister by the date that is specified in each of the following items in accordance with the category of cases set forth in that item, pursuant to the provisions of Cabinet Office Order:
<sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

  **一**  前項の大量保有報告書に係る基準日の後の基準日における株券等保有割合が当該大量保有報告書に記載された株券等保有割合より百分の一以上増加し又は減少した場合その他の当該大量保有報告書に記載すべき重要な事項の変更として政令で定めるものがあつた場合　当該後の基準日から五日以内
  <sup>art-27-26/par-2/item-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-2/item-1</sup>
  if the ownership ratio of share certificates, etc. as of the reference date that comes after the reference date of the statement of large-volume holdings set forth in the preceding paragraph increases or decreases by one percent or more from the ownership ratio of share certificates, etc. that is stated in that statement of large-volume holdings, or if there has been any other change that is specified by Cabinet Order as a change in a material particular that is required to be stated in the statement of large-volume holdings:within five days from the later reference date;
  <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

  **二**  変更報告書に係る基準日の後の基準日における株券等保有割合が当該変更報告書に記載された株券等保有割合より百分の一以上増加し又は減少した場合その他の当該大量保有報告書に記載すべき重要な事項の変更として政令で定めるものがあつた場合　当該後の基準日から五日以内
  <sup>art-27-26/par-2/item-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-2/item-2</sup>
  if the ownership ratio of share certificates, etc. as of the reference date that comes after the reference date of the statement of changes increases or decreases by one percent or more from the ownership ratio of share certificates, etc. that was stated in that statement of changes, or if there has been any other change that is specified by Cabinet Order as a change in a material particular that is required to be stated in the statement of large-volume holdings:within five days from the later reference date;
  <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

  **三**  株券等保有割合が内閣府令で定める数を下回り当該株券等が特例対象株券等になつた場合　当該特例対象株券等になつた日から五日以内
  <sup>art-27-26/par-2/item-3 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-2/item-3</sup>
  if the ownership ratio of share certificates, etc. falls below the number specified by Cabinet Office Order, and the relevant share certificates, etc. have become share certificates, etc. subject to special rules:within five days from the date on which the share certificates, etc. become share certificates, etc. subject to special provisions; and
  <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

  **四**  前三号に準ずる場合として内閣府令で定める場合　内閣府令で定める日
  <sup>art-27-26/par-2/item-4 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-2/item-4</sup>
  a case specified by Cabinet Office Order as being equivalent to any of the preceding three items:the date specified by Cabinet Office Order.
  <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

**第三項**  前二項の基準日とは、政令で定めるところにより毎月二回以上設けられる日の組合せのうちから特例対象株券等の保有者が内閣府令で定めるところにより内閣総理大臣に届出をした日をいう。
<sup>art-27-26/par-3 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-3</sup>
The reference date referred to in the preceding two paragraphs means the date on which a holder of share certificates, etc. subject to special provisions notifies the Prime Minister pursuant to the provisions of Cabinet Office Order, from among the combinations of two or more days in each month designated pursuant to the provisions of Cabinet Order.
<sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

**第四項**  第一項の規定にかかわらず、同項に規定する金融商品取引業者、銀行その他の内閣府令で定める者は、その株券等保有割合が百分の五を超えることとなつた日から政令で定める期間内に重要提案行為等を行うときは、その五日前までに、内閣府令で定めるところにより、同項の大量保有報告書を内閣総理大臣に提出しなければならない。
<sup>art-27-26/par-4 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-4</sup>
Notwithstanding the provisions of paragraph (1), if the financial instruments business operator, bank, or other person specified by Cabinet Office Order provided for in that paragraph makes a material proposal within a period specified by Cabinet Order from the date on which the ownership ratio of share certificates, etc. comes to exceed five percent, it must submit the statement of large-volume holdings referred to in that paragraph to the Prime Minister by five days prior to the date on which it makes the material proposal, pursuant to the provisions of Cabinet Office Order.
<sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

**第五項**  第二項の規定にかかわらず、第一項に規定する金融商品取引業者、銀行その他の内閣府令で定める者は、同項の大量保有報告書又は第二項の変更報告書を提出した後に株券等保有割合が百分の一以上増加した場合であつて、当該増加した日から政令で定める期間内に重要提案行為等を行うときは、その五日前までに、内閣府令で定めるところにより、同項の変更報告書を内閣総理大臣に提出しなければならない。
<sup>art-27-26/par-5 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-5</sup>
Notwithstanding the provisions of paragraph (2), if the ownership ratio of share certificates, etc. of the financial instruments business operator, bank, or other person specified by Cabinet Office Order provided for in paragraph (1) increases by one percent or more after the submission of the statement of large-volume holdings referred to in that paragraph or the statement of changes referred to in paragraph (2), and if it makes a material proposal within the period specified by Cabinet Order from the date of the increase, it must submit the statement of changes referred to in that paragraph to the Prime Minister by five days prior to the date on which it makes the material proposal, pursuant to the provisions of Cabinet Office Order.
<sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

**第六項**  前条第三項の規定は、第一項若しくは第四項の大量保有報告書又は第二項若しくは前項の変更報告書について準用する。
<sup>art-27-26/par-6 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-6</sup>
The provisions of paragraph (3) of the preceding Article apply mutatis mutandis to the statement of large-volume holdings referred to in paragraph (1) or (4), or the statement of changes referred to in paragraph (2) or the preceding paragraph.
<sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

### 第二十七条の二十七（大量保有報告書等の写しの金融商品取引所等への提出） — (Submission of a Copy of a Statement of Large-Volume Holdings to a Financial Instruments Exchange)
<sup>caption: Ministry of Justice translation — Japanese Law Translation Database System</sup>
<sup>art-27-27 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-27</sup>

**第一項**  株券等の保有者は、大量保有報告書若しくは変更報告書又はこれらの訂正報告書を提出したときは、遅滞なく、これらの書類の写しを当該株券等の発行者及び次の各号に掲げる株券等の区分に応じ当該各号に定める者に送付しなければならない。
<sup>art-27-27/par-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-27/par-1</sup>
If a holder of share certificates, etc. has submitted a statement of large-volume holdings, statement of changes, or amended reports in connection with them, that holder must send the copies of these documents without delay to the issuer of the relevant share certificates, etc., and to the person specified in the relevant of the following items for the category of share certificates, etc. set forth in that item:
<sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

  **一**  金融商品取引所に上場されている株券等の発行者が発行する株券等　当該金融商品取引所
  <sup>art-27-27/par-1/item-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-27/par-1/item-1</sup>
  share certificates, etc. issued by an issuer of share certificates, etc. listed on a financial instruments exchange:that financial instruments exchange; and
  <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

  **二**  流通状況が前号に掲げる株券等に準ずるものとして政令で定める株券等の発行者が発行する株券等　政令で定める認可金融商品取引業協会
  <sup>art-27-27/par-1/item-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-27/par-1/item-2</sup>
  share certificates, etc. issued by an issuer of share certificates, etc., which are specified by Cabinet Order as having equivalent distribution statuses to the share certificates, etc. set forth in the preceding item:the authorized financial instruments firms association specified by Cabinet Order.
  <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

### 第二十七条の二十八（大量保有報告書等の公衆縦覧） — (Public Inspection of Statements of Large-Volume Holdings)
<sup>caption: Ministry of Justice translation — Japanese Law Translation Database System</sup>
<sup>art-27-28 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-28</sup>

**第一項**  内閣総理大臣は、内閣府令で定めるところにより、大量保有報告書及び変更報告書並びにこれらの訂正報告書を、これらの書類を受理した日（訂正報告書にあつては、当該訂正の対象となつた大量保有報告書又は変更報告書を受理した日）から五年間、公衆の縦覧に供しなければならない。
<sup>art-27-28/par-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-28/par-1</sup>
The Prime Minister, pursuant to the provisions of Cabinet Office Order, must make statements of large-volume holdings and statements of changes, as well as amended reports in connection with them, available for public inspection for five years from the day on which the Prime Minister receives these documents (or for an amended report, the day on which the Prime Minister receives the statement of large-volume holdings or statement of change that is subject to that amendment).
<sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

**第二項**  金融商品取引所及び政令で定める認可金融商品取引業協会は、前条の規定により送付された前項に規定する書類（以下この条において「縦覧書類」という。）の写しを、内閣府令で定めるところにより、その事務所に備え置き、当該縦覧書類の写しの送付を受けた日（訂正報告書の写しにあつては、当該訂正の対象となつた大量保有報告書又は変更報告書の写しの送付を受けた日）から五年間、公衆の縦覧に供しなければならない。
<sup>art-27-28/par-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-28/par-2</sup>
Pursuant to the provisions of Cabinet Office Order, financial instruments exchanges and the authorized financial instruments firms associations specified by Cabinet Order must keep at their offices the copies of the documents prescribed in the preceding paragraph that have been sent to them pursuant to the provisions of the preceding Article (hereinafter referred to as "public documents" in this Article), and must make copies of them available for public inspection for five years from the day on which they receive those copies of the public documents (or, for a copy of an amended report, the day on which they receive the copy of the statement of large-volume holdings or statement of changes that is subject to that amendment).
<sup>machine translation, not official</sup>

**第三項**  縦覧書類に記載された取得資金に関する事項について、当該資金が銀行、協同組織金融機関その他政令で定める金融機関（以下この項において「銀行等」という。）からの借入れによる場合（内閣府令で定める場合を除く。）には、内閣総理大臣は、第一項の規定にかかわらず、当該銀行等の名称を公衆の縦覧に供しないものとし、当該縦覧書類を提出した者は、当該銀行等の名称を削除して当該縦覧書類の写しを送付するものとする。
<sup>art-27-28/par-3 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-28/par-3</sup>
Notwithstanding the provisions of paragraph (1), with regard to the particulars of funds for acquisition as stated in a public document, if those funds have been borrowed from a bank, cooperative financial institution, or any other financial institution specified by Cabinet Order (hereinafter collectively referred to as a "bank, etc." in this paragraph) (excluding the cases specified by Cabinet Office Order), the Prime Minister is not to make the name of the bank, etc. available for public inspection, and the person that has submitted the public documents is to delete the name of the bank, etc. before sending the copy of the public document.
<sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

**第四項**  内閣総理大臣は、次条第一項において準用する第九条第一項又は第十条第一項の規定による訂正報告書の提出命令をする場合には、第一項の規定にかかわらず、当該提出命令に係る縦覧書類について、その全部又は一部を公衆の縦覧に供しないものとすることができる。
<sup>art-27-28/par-4 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-28/par-4</sup>
Notwithstanding the provisions of paragraph (1), if the Prime Minister issues a submission order for an amended report under Article 9, paragraph (1) or Article 10, paragraph (1) as applied mutatis mutandis pursuant to paragraph (1) of the following Article, the Prime Minister may decide not to make all or part of the public document that is connected with the order available for public inspection.
<sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

**第五項**  前項の場合において、内閣総理大臣は、大量保有者及び第二項の規定により当該縦覧書類の写しを公衆の縦覧に供する金融商品取引所又は同項の政令で定める認可金融商品取引業協会に対し、当該縦覧書類の全部又は一部を公衆の縦覧に供しないこととした旨を通知するものとする。
<sup>art-27-28/par-5 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-28/par-5</sup>
In a case referred to in the preceding paragraph, the Prime Minister is to notify a large-volume holder, and the financial instruments exchange or the authorized financial instruments firms association specified by Cabinet Order that is referred to in paragraph (2), that makes copies of public documents available for public inspection pursuant to the provisions of paragraph (2), that the Prime Minister has decided that all or part of the public document will not be made available for public inspection.
<sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

**第六項**  前項の規定により金融商品取引所又は認可金融商品取引業協会が内閣総理大臣からの通知を受けたときは、その時以後、当該通知に係る縦覧書類については、第二項の規定は、適用しない。
<sup>art-27-28/par-6 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-28/par-6</sup>
If a financial instruments exchange or an authorized financial instruments firms association receives a notice from the Prime Minister pursuant to the provisions of the preceding paragraph, the provisions of paragraph (2) do not apply after that time to the public document to which the notice pertains.
<sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

### 第二十七条の二十九（大量保有報告書等の訂正報告書の提出命令） — (Order to Submit an Amended Report in Connection with a Statement of Large-Volume Holdings)
<sup>caption: Ministry of Justice translation — Japanese Law Translation Database System</sup>
<sup>art-27-29 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-29</sup>

**第一項**  第九条第一項及び第十条第一項の規定は、大量保有報告書及び変更報告書について準用する。この場合において、同項中「提出を命じ、必要があると認めるときは、第四条第一項から第三項までの規定による届出の効力の停止」とあるのは、「提出」と読み替えるものとする。
<sup>art-27-29/par-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-29/par-1</sup>
The provisions of Article 9, paragraph (1) and Article 10, paragraph (1) apply mutatis mutandis to statements of large-volume holdings and statements of changes. In this case, in Article 10, paragraph (1), the phrase "to submit an amended statement, and if the Prime Minister finds it to be necessary, the Prime Minister may order the suspension of the validity of a notification under Article 4, paragraphs (1) through (3)" is deemed to be replaced with "to submit an amended statement".
<sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

**第二項**  前二条の規定は、前項において準用する第九条第一項又は第十条第一項の規定により大量保有報告書又は変更報告書につき訂正報告書が提出された場合について準用する。
<sup>art-27-29/par-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-29/par-2</sup>
The provisions of the preceding two Articles apply mutatis mutandis if an amended report in connection with a statement of large-volume holdings or a statement of changes has been submitted pursuant to the provisions of Article 9, paragraph (1) or Article 10, paragraph (1), as applied mutatis mutandis pursuant to the preceding paragraph.
<sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

### 第二十七条の三十（大量保有報告書の提出者等に対する報告の徴取及び検査） — (Collection of Reports and Inspection of a Person Submitting a Statement of Large-Volume Holdings)
<sup>caption: Ministry of Justice translation — Japanese Law Translation Database System</sup>
<sup>art-27-30 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-30</sup>

**第一項**  内閣総理大臣は、公益又は投資者保護のため必要かつ適当であると認めるときは、大量保有報告書を提出した者若しくは提出すべきであると認められる者若しくはこれらの共同保有者（第二十七条の二十三第五項に規定する共同保有者をいう。）その他の関係者若しくは参考人に対し参考となるべき報告若しくは資料の提出を命じ、又は当該職員をしてその者の帳簿書類その他の物件を検査させることができる。
<sup>art-27-30/par-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-30/par-1</sup>
When the Prime Minister finds it to be necessary and appropriate in the public interest or for the protection of investors, the Prime Minister may order a person that has submitted a statement of large-volume holdings, a person that is found to be required to submit the same, a joint holder (meaning a joint holder as prescribed in Article 27-23, paragraph (5)) of either of such persons, or any other concerned party or witness to submit reports or materials that should serve as a reference, and may have the relevant officials inspect that person's books, documents, and any other articles.
<sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

**第二項**  内閣総理大臣は、公益又は投資者保護のため必要かつ適当であると認めるときは、大量保有報告書に係る株券等の発行者又は参考人に対し、参考となるべき報告又は資料の提出を命ずることができる。
<sup>art-27-30/par-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-30/par-2</sup>
When the Prime Minister finds it to be necessary and appropriate in the public interest or for the protection of investors, the Prime Minister may order the issuer of share certificates, etc. to which a statement of large-volume holdings pertains or a witness, to submit reports or materials that should serve as a reference.
<sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

**第三項**  内閣総理大臣は、第一項の規定による報告若しくは資料の提出の命令若しくは検査又は前項の規定による報告若しくは資料の提出の命令に関して必要があると認めるときは、公務所又は公私の団体に照会して必要な事項の報告を求めることができる。
<sup>art-27-30/par-3 · https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-30/par-3</sup>
If the Prime Minister finds it necessary with regard to the order for submission of reports or materials or the inspection under paragraph (1) or the order for submission of reports or materials under the preceding paragraph, the Prime Minister may make inquiries to public offices or public or private organizations and request that those offices or organizations report necessary matters.
<sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

---

## Cites
- art-27-23/par-1: この項 → 金融商品取引法 第二十七条の二十三第一項 (Article 27-23, paragraph (1)), art-27-23/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-1
- art-27-23/par-1: 第二十七条の三十第二項 → 金融商品取引法 第二十七条の三十第二項 (Article 27-30, paragraph (2)), art-27-30/par-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-30/par-2
- art-27-23/par-1: 第二十七条の三十の十一第五項 → 金融商品取引法 第二十七条の三十の十一第五項 (Article 27-30-11, paragraph (5)), art-27-30-11/par-5 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-4/from-art-27-30-10#art-27-30-11/par-5
- art-27-23/par-1: 第二条第一項第十九号 → 金融商品取引法 第二条第一項第十九号 (Article 2, paragraph (1), item (xix)), art-2/par-1/item-19 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-1/from-art-2#art-2/par-1/item-19
- art-27-23/par-1: 第二十七条の二十五第一項 → 金融商品取引法 第二十七条の二十五第一項 (Article 27-25, paragraph (1)), art-27-25/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-25/par-1
- art-27-23/par-1: 第二十七条の二十六 → 金融商品取引法 第二十七条の二十六 (Article 27-26), art-27-26 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26
- art-27-23/par-1: 第四項 → 金融商品取引法 第二十七条の二十三第四項 (Article 27-23, paragraph (4)), art-27-23/par-4 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-4
- art-27-23/par-2: 前項 → 金融商品取引法 第二十七条の二十三第一項 (Article 27-23, paragraph (1)), art-27-23/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-1
- art-27-23/par-3: 第一項 → 金融商品取引法 第二十七条の二十三第一項 (Article 27-23, paragraph (1)), art-27-23/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-1
- art-27-23/par-3: 第一号 → 金融商品取引法 第二十七条の二十三第三項第一号 (Article 27-23, paragraph (3), item (i)), art-27-23/par-3/item-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-3/item-1
- art-27-23/par-3: 第二条第一項第二十号 → 金融商品取引法 第二条第一項第二十号 (Article 2, paragraph (1), item (xx)), art-2/par-1/item-20 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-1/from-art-2#art-2/par-1/item-20
- art-27-23/par-3: この項 → 金融商品取引法 第二十七条の二十三第三項 (Article 27-23, paragraph (3)), art-27-23/par-3 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-3
- art-27-23/par-3: 次条 → 金融商品取引法 第二十七条の二十四 (Article 27-24), art-27-24 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-24
- art-27-23/par-3: 第三号 → 金融商品取引法 第二十七条の二十三第三項第三号 (Article 27-23, paragraph (3), item (iii)), art-27-23/par-3/item-3 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-3/item-3
- art-27-23/par-3/item-1: 次号 → 金融商品取引法 第二十七条の二十三第三項第二号 (Article 27-23, paragraph (3), item (ii)), art-27-23/par-3/item-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-3/item-2
- art-27-23/par-3/item-3: 前二号 → 金融商品取引法 第二十七条の二十三第三項第一号 (Article 27-23, paragraph (3), item (i)), art-27-23/par-3/item-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-3/item-1
- art-27-23/par-3/item-3: 前二号 → 金融商品取引法 第二十七条の二十三第三項第二号 (Article 27-23, paragraph (3), item (ii)), art-27-23/par-3/item-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-3/item-2
- art-27-23/par-4: 第一項 → 金融商品取引法 第二十七条の二十三第一項 (Article 27-23, paragraph (1)), art-27-23/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-1
- art-27-23/par-4: 前項第一号 → 金融商品取引法 第二十七条の二十三第三項第一号 (Article 27-23, paragraph (3), item (i)), art-27-23/par-3/item-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-3/item-1
- art-27-23/par-4: 第二号 → 金融商品取引法 第二十七条の二十三第三項第二号 (Article 27-23, paragraph (3), item (ii)), art-27-23/par-3/item-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-3/item-2
- art-27-23/par-4: 同項第三号 → 金融商品取引法 第二十七条の二十三第三項第三号 (Article 27-23, paragraph (3), item (iii)), art-27-23/par-3/item-3 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-3/item-3
- art-27-23/par-4: 会社法第百十三条第四項 → 会社法 第百十三条第四項 (Article 113, paragraph (4)), art-113/par-4 — https://japanlaw.org/en/companies-act/art-113/par-4 · https://japanlaw.org/l/417AC0000000086/art-113/par-4
- art-27-23/par-4: この項 → 金融商品取引法 第二十七条の二十三第四項 (Article 27-23, paragraph (4)), art-27-23/par-4 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-4
- art-27-23/par-4: 第百六十一条の二第一項 → 金融商品取引法 第百六十一条の二第一項 (Article 161-2, paragraph (1)), art-161-2/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-6/from-art-157#art-161-2/par-1
- art-27-23/par-4: 第六項 → 金融商品取引法 第二十七条の二十三第六項 (Article 27-23, paragraph (6)), art-27-23/par-6 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-6
- art-27-23/par-4: 第二十七条の二十五第一項 → 金融商品取引法 第二十七条の二十五第一項 (Article 27-25, paragraph (1)), art-27-25/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-25/par-1
- art-27-23/par-5: 前項 → 金融商品取引法 第二十七条の二十三第四項 (Article 27-23, paragraph (4)), art-27-23/par-4 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-4
- art-27-23/par-5/item-1: 第二十八条第一項 → 金融商品取引法 第二十八条第一項 (Article 28, paragraph (1)), art-28/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-3/sec-1/from-art-28#art-28/par-1
- art-27-23/par-5/item-1: 同条第四項 → 金融商品取引法 第二十八条第四項 (Article 28, paragraph (4)), art-28/par-4 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-3/sec-1/from-art-28#art-28/par-4
- art-27-23/par-5/item-2: 第二十七条の二十六第一項 → 金融商品取引法 第二十七条の二十六第一項 (Article 27-26, paragraph (1)), art-27-26/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-1
- art-27-23/par-6: 第四項 → 金融商品取引法 第二十七条の二十三第四項 (Article 27-23, paragraph (4)), art-27-23/par-4 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-4
- art-27-24/par-1: 前条第三項第二号 → 金融商品取引法 第二十七条の二十三第三項第二号 (Article 27-23, paragraph (3), item (ii)), art-27-23/par-3/item-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-3/item-2
- art-27-25/par-1: 第二十七条の二十三第四項 → 金融商品取引法 第二十七条の二十三第四項 (Article 27-23, paragraph (4)), art-27-23/par-4 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-4
- art-27-26/par-1: 第二十八条第一項 → 金融商品取引法 第二十八条第一項 (Article 28, paragraph (1)), art-28/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-3/sec-1/from-art-28#art-28/par-1
- art-27-26/par-1: 同条第四項 → 金融商品取引法 第二十八条第四項 (Article 28, paragraph (4)), art-28/par-4 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-3/sec-1/from-art-28#art-28/par-4
- art-27-26/par-1: この条 → 金融商品取引法 第二十七条の二十六 (Article 27-26), art-27-26 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26
- art-27-26/par-1: 第三項 → 金融商品取引法 第二十七条の二十六第三項 (Article 27-26, paragraph (3)), art-27-26/par-3 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-3
- art-27-26/par-1: 第四項 → 金融商品取引法 第二十七条の二十六第四項 (Article 27-26, paragraph (4)), art-27-26/par-4 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-4
- art-27-26/par-1: 第五項 → 金融商品取引法 第二十七条の二十六第五項 (Article 27-26, paragraph (5)), art-27-26/par-5 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-5
- art-27-26/par-1: 第二十七条の二十三第一項 → 金融商品取引法 第二十七条の二十三第一項 (Article 27-23, paragraph (1)), art-27-23/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-1
- art-27-26/par-2: 前条第一項 → 金融商品取引法 第二十七条の二十五第一項 (Article 27-25, paragraph (1)), art-27-25/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-25/par-1
- art-27-26/par-2/item-1: 前項 → 金融商品取引法 第二十七条の二十六第一項 (Article 27-26, paragraph (1)), art-27-26/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-1
- art-27-26/par-2/item-4: 前三号 → 金融商品取引法 第二十七条の二十六第二項第一号 (Article 27-26, paragraph (2), item (i)), art-27-26/par-2/item-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-2/item-1
- art-27-26/par-2/item-4: 前三号 → 金融商品取引法 第二十七条の二十六第二項第二号 (Article 27-26, paragraph (2), item (ii)), art-27-26/par-2/item-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-2/item-2
- art-27-26/par-2/item-4: 前三号 → 金融商品取引法 第二十七条の二十六第二項第三号 (Article 27-26, paragraph (2), item (iii)), art-27-26/par-2/item-3 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-2/item-3
- art-27-26/par-3: 前二項 → 金融商品取引法 第二十七条の二十六第一項 (Article 27-26, paragraph (1)), art-27-26/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-1
- art-27-26/par-3: 前二項 → 金融商品取引法 第二十七条の二十六第二項 (Article 27-26, paragraph (2)), art-27-26/par-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-2
- art-27-26/par-4: 第一項 → 金融商品取引法 第二十七条の二十六第一項 (Article 27-26, paragraph (1)), art-27-26/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-1
- art-27-26/par-5: 第二項 → 金融商品取引法 第二十七条の二十六第二項 (Article 27-26, paragraph (2)), art-27-26/par-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-2
- art-27-26/par-5: 第一項 → 金融商品取引法 第二十七条の二十六第一項 (Article 27-26, paragraph (1)), art-27-26/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-1
- art-27-26/par-6: 前条第三項 → 金融商品取引法 第二十七条の二十五第三項 (Article 27-25, paragraph (3)), art-27-25/par-3 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-25/par-3
- art-27-26/par-6: 第一項 → 金融商品取引法 第二十七条の二十六第一項 (Article 27-26, paragraph (1)), art-27-26/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-1
- art-27-26/par-6: 第四項 → 金融商品取引法 第二十七条の二十六第四項 (Article 27-26, paragraph (4)), art-27-26/par-4 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-4
- art-27-26/par-6: 第二項 → 金融商品取引法 第二十七条の二十六第二項 (Article 27-26, paragraph (2)), art-27-26/par-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-2
- art-27-26/par-6: 前項 → 金融商品取引法 第二十七条の二十六第五項 (Article 27-26, paragraph (5)), art-27-26/par-5 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-26/par-5
- art-27-27/par-1/item-2: 前号 → 金融商品取引法 第二十七条の二十七第一項第一号 (Article 27-27, paragraph (1), item (i)), art-27-27/par-1/item-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-27/par-1/item-1
- art-27-28/par-2: 前条 → 金融商品取引法 第二十七条の二十七 (Article 27-27), art-27-27 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-27
- art-27-28/par-2: 前項 → 金融商品取引法 第二十七条の二十八第一項 (Article 27-28, paragraph (1)), art-27-28/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-28/par-1
- art-27-28/par-2: この条 → 金融商品取引法 第二十七条の二十八 (Article 27-28), art-27-28 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-28
- art-27-28/par-3: この項 → 金融商品取引法 第二十七条の二十八第三項 (Article 27-28, paragraph (3)), art-27-28/par-3 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-28/par-3
- art-27-28/par-3: 第一項 → 金融商品取引法 第二十七条の二十八第一項 (Article 27-28, paragraph (1)), art-27-28/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-28/par-1
- art-27-28/par-4: 次条第一項 → 金融商品取引法 第二十七条の二十九第一項 (Article 27-29, paragraph (1)), art-27-29/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-29/par-1
- art-27-28/par-4: 第九条第一項 → 金融商品取引法 第九条第一項 (Article 9, paragraph (1)), art-9/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2/from-art-7#art-9/par-1
- art-27-28/par-4: 第十条第一項 → 金融商品取引法 第十条第一項 (Article 10, paragraph (1)), art-10/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2/from-art-7#art-10/par-1
- art-27-28/par-4: 第一項 → 金融商品取引法 第二十七条の二十八第一項 (Article 27-28, paragraph (1)), art-27-28/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-28/par-1
- art-27-28/par-5: 前項 → 金融商品取引法 第二十七条の二十八第四項 (Article 27-28, paragraph (4)), art-27-28/par-4 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-28/par-4
- art-27-28/par-5: 第二項 → 金融商品取引法 第二十七条の二十八第二項 (Article 27-28, paragraph (2)), art-27-28/par-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-28/par-2
- art-27-28/par-6: 前項 → 金融商品取引法 第二十七条の二十八第五項 (Article 27-28, paragraph (5)), art-27-28/par-5 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-28/par-5
- art-27-28/par-6: 第二項 → 金融商品取引法 第二十七条の二十八第二項 (Article 27-28, paragraph (2)), art-27-28/par-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-28/par-2
- art-27-29/par-1: 第九条第一項 → 金融商品取引法 第九条第一項 (Article 9, paragraph (1)), art-9/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2/from-art-7#art-9/par-1
- art-27-29/par-1: 第十条第一項 → 金融商品取引法 第十条第一項 (Article 10, paragraph (1)), art-10/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2/from-art-7#art-10/par-1
- art-27-29/par-1: 第四条第一項から第三項まで → 金融商品取引法 第四条第一項 (Article 4, paragraph (1)), art-4/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2/from-art-4#art-4/par-1
- art-27-29/par-1: 第四条第一項から第三項まで → 金融商品取引法 第四条第二項 (Article 4, paragraph (2)), art-4/par-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2/from-art-4#art-4/par-2
- art-27-29/par-1: 第四条第一項から第三項まで → 金融商品取引法 第四条第三項 (Article 4, paragraph (3)), art-4/par-3 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2/from-art-4#art-4/par-3
- art-27-29/par-2: 前二条 → 金融商品取引法 第二十七条の二十七 (Article 27-27), art-27-27 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-27
- art-27-29/par-2: 前二条 → 金融商品取引法 第二十七条の二十八 (Article 27-28), art-27-28 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-28
- art-27-29/par-2: 前項 → 金融商品取引法 第二十七条の二十九第一項 (Article 27-29, paragraph (1)), art-27-29/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-29/par-1
- art-27-29/par-2: 第九条第一項 → 金融商品取引法 第九条第一項 (Article 9, paragraph (1)), art-9/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2/from-art-7#art-9/par-1
- art-27-29/par-2: 第十条第一項 → 金融商品取引法 第十条第一項 (Article 10, paragraph (1)), art-10/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2/from-art-7#art-10/par-1
- art-27-30/par-1: 第二十七条の二十三第五項 → 金融商品取引法 第二十七条の二十三第五項 (Article 27-23, paragraph (5)), art-27-23/par-5 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-23#art-27-23/par-5
- art-27-30/par-3: 第一項 → 金融商品取引法 第二十七条の三十第一項 (Article 27-30, paragraph (1)), art-27-30/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-30/par-1
- art-27-30/par-3: 前項 → 金融商品取引法 第二十七条の三十第二項 (Article 27-30, paragraph (2)), art-27-30/par-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/amendments/20270401_508AC0000000064/text/ch-2-3/from-art-27-26#art-27-30/par-2

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## Sources

- claude-opus-5-5 — Corrections to the Ministry of Justice's English of paragraphs, written 2026-10-23
- e-Gov 法令検索, Digital Agency (デジタル庁) — 金融商品取引法 — the text as 令和八年法律第六十四号 leaves it, from 2027-04-01 (https://laws.e-gov.go.jp/law/323AC0000000025/20270401_508AC0000000064), retrieved 2026-10-22
- Japanese Law Translation Database System, Ministry of Justice (法務省) — Financial Instruments and Exchange Act (金融商品取引法), Article 27-23, paragraph (1) — the Ministry of Justice's English as printed (https://www.japaneselawtranslation.go.jp/en/laws/view/4633/tb), retrieved 2026-10-22
- Japanese Law Translation Database System, Ministry of Justice (法務省) — Financial Instruments and Exchange Act (金融商品取引法), Article 27-25, paragraph (1) — the Ministry of Justice's English as printed (https://www.japaneselawtranslation.go.jp/en/laws/view/4633/tb), retrieved 2026-10-22
- Japanese Law Translation Database System, Ministry of Justice (法務省) — Financial Instruments and Exchange Act — Ministry of Justice translation (https://www.japaneselawtranslation.go.jp/en/laws/view/4633/tb), retrieved 2026-10-22
- claude-sonnet-5-5 — Machine translation, batch financial-instruments-and-exchange-act-20261023T035921-003, translated 2026-10-23
- This site's parser, version 212 — 金融商品取引法 — structure, counts, cross-references and defined terms, computed 2026-10-22
