# 金融商品取引法 / Financial Instruments and Exchange Act — 第百二十四条 (Article 124) - 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: 第百二十四条 (Article 124)（自ら開設する取引所金融商品市場への上場の承認） — address `art-124` - Text in force since: 2026-08-12 - URL (the page that opens at this provision): https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/323AC0000000025/art-124 - Every provision below carries its address and both URLs on the line under it. - Japanese text: e-Gov 法令検索, Digital Agency (デジタル庁). English: as marked on each line below. Only the Japanese as published by the government has legal effect; the text below is a copy of it. Every English rendering below is a translation and says which kind: the Ministry of Justice's translation, or this site's machine translation, whose model and date the Sources list names. They are never merged and never substituted for one another. --- ### 第百二十四条（自ら開設する取引所金融商品市場への上場の承認） — (Approval of a Financial Instruments Exchange's Listing on a Financial Instruments Exchange Market It Operates) caption: Ministry of Justice translation — Japanese Law Translation Database System art-124 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124 · https://japanlaw.org/l/323AC0000000025/art-124 **第一項** 第百二十一条の規定にかかわらず、金融商品取引所は、次に掲げる者が発行者である有価証券をその売買のため、又は当該有価証券、当該有価証券に係る金融指標若しくは当該有価証券に係るオプションを市場デリバティブ取引のためにその開設する取引所金融商品市場に上場しようとする場合には、その上場しようとする取引所金融商品市場ごとに、その都度、その上場について、内閣総理大臣の承認を受けなければならない。ただし、次条の規定による命令に基づき上場する場合は、この限りでない。 art-124/par-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-1 · https://japanlaw.org/l/323AC0000000025/art-124/par-1 Notwithstanding the provisions of Article 121, if a financial instruments exchange seeks to list securities issued by the following persons for purchase and sale on a financial instruments exchange market it operates, or to list such securities, financial indexes connected to them, or options on them for market derivatives transactions on a financial instruments exchange market it operates, it must obtain the approval of the Prime Minister for the listing, on each occasion and for each financial instruments exchange market on which it seeks to list them; provided, however, that this does not apply if such a listing is made based on an order under the provisions of the following Article: Ministry of Justice translation — Japanese Law Translation Database System **一** 当該金融商品取引所 art-124/par-1/item-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-124/par-1/item-1 the financial instruments exchange in question; Ministry of Justice translation — Japanese Law Translation Database System **二** 当該金融商品取引所を子会社とする者 art-124/par-1/item-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-1/item-2 · https://japanlaw.org/l/323AC0000000025/art-124/par-1/item-2 a person that has the financial instruments exchange as its subsidiary company; Ministry of Justice translation — Japanese Law Translation Database System **三** 前二号に掲げる者の総株主の議決権の保有基準割合以上の数の対象議決権を保有する株式会社金融商品取引所又は金融商品取引所持株会社（前号に掲げる者を除く。） art-124/par-1/item-3 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-1/item-3 · https://japanlaw.org/l/323AC0000000025/art-124/par-1/item-3 an incorporated financial instruments exchange or financial instruments exchange holding company that holds a number of subject voting rights in a person set forth in any of the preceding two items which is equal to or greater than the threshold holding right of all shareholders' voting rights (other than a person set forth in the preceding item); Ministry of Justice translation — Japanese Law Translation Database System **四** 当該金融商品取引所の子会社である株式会社金融商品取引所又は金融商品取引所持株会社 art-124/par-1/item-4 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-1/item-4 · https://japanlaw.org/l/323AC0000000025/art-124/par-1/item-4 an incorporated financial instruments exchange or financial instruments exchange holding company that is a subsidiary company of the financial instruments exchange; Ministry of Justice translation — Japanese Law Translation Database System **五** 第一号又は第二号に掲げる者の総株主の議決権の保有基準割合以上の数の対象議決権を保有する親商品取引所等（同号に掲げる者を除く。） art-124/par-1/item-5 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-1/item-5 · https://japanlaw.org/l/323AC0000000025/art-124/par-1/item-5 a parent commodity exchange, etc. that holds a number of subject voting rights in a person set forth in item (i) or (ii) which is equal to or greater than the threshold holding ratio of all shareholders' voting rights (other than a person set forth in item (ii)); or Ministry of Justice translation — Japanese Law Translation Database System **六** 当該金融商品取引所の子会社である親商品取引所等 art-124/par-1/item-6 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-1/item-6 · https://japanlaw.org/l/323AC0000000025/art-124/par-1/item-6 a parent commodity exchange, etc. that is a subsidiary company of the financial instruments exchange. Ministry of Justice translation — Japanese Law Translation Database System **第二項** 内閣総理大臣は、前項の承認の申請があつた場合においては、当該申請が次の各号のいずれかに該当すると認めるときは、同項の承認をしてはならない。 art-124/par-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-2 · https://japanlaw.org/l/323AC0000000025/art-124/par-2 If an application is filed for the approval referred to in the preceding paragraph and the Prime Minister finds the application to fall under any of the following items, the Prime Minister must not grant the approval referred to in that paragraph: Ministry of Justice translation — Japanese Law Translation Database System **一** 当該申請に係る上場が次に掲げる金融商品取引所の業務の健全かつ適切な運営を損なうおそれがあること。 art-124/par-2/item-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-2/item-1 · https://japanlaw.org/l/323AC0000000025/art-124/par-2/item-1 the listing concerning the application is likely to impair the sound and appropriate operation of the business of any of the following financial instruments exchanges: Ministry of Justice translation — Japanese Law Translation Database System **イ** 当該金融商品取引所 art-124/par-2/item-1/sub-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-2/item-1/sub-1 · https://japanlaw.org/l/323AC0000000025/art-124/par-2/item-1/sub-1 the relevant financial instruments exchange; Ministry of Justice translation — Japanese Law Translation Database System **ロ** 当該金融商品取引所を子会社とする金融商品取引所 art-124/par-2/item-1/sub-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-2/item-1/sub-2 · https://japanlaw.org/l/323AC0000000025/art-124/par-2/item-1/sub-2 a financial instruments exchange that has the relevant financial instruments exchange as its subsidiary company; Ministry of Justice translation — Japanese Law Translation Database System **ハ** 当該金融商品取引所（当該金融商品取引所を子会社とする者を含む。）の総株主の議決権の保有基準割合以上の数の対象議決権を保有する株式会社金融商品取引所（ロに掲げる者を除く。） art-124/par-2/item-1/sub-3 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-2/item-1/sub-3 · https://japanlaw.org/l/323AC0000000025/art-124/par-2/item-1/sub-3 an incorporated financial instruments exchange that holds a number of subject voting rights in the relevant financial instruments exchange (including a person that has the relevant financial instruments exchange as its subsidiary company) which is equal to or greater than the threshold holding ratio of all shareholders' voting rights (other than a person set forth in (b)); Ministry of Justice translation — Japanese Law Translation Database System **ニ** 当該金融商品取引所の子会社である株式会社金融商品取引所 art-124/par-2/item-1/sub-4 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-2/item-1/sub-4 · https://japanlaw.org/l/323AC0000000025/art-124/par-2/item-1/sub-4 an incorporated financial instruments exchange that is a subsidiary company of the relevant financial instruments exchange; Ministry of Justice translation — Japanese Law Translation Database System **ホ** 当該金融商品取引所を子会社とする者の子会社である株式会社金融商品取引所（イからニまでに掲げる者を除く。） art-124/par-2/item-1/sub-5 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-2/item-1/sub-5 · https://japanlaw.org/l/323AC0000000025/art-124/par-2/item-1/sub-5 an incorporated financial instruments exchange that is the subsidiary company of a person that has the relevant financial instruments exchange as its subsidiary company (other than a person set forth in any of (a) through (d)); and Ministry of Justice translation — Japanese Law Translation Database System **ヘ** 当該金融商品取引所（当該金融商品取引所を子会社とする者を含む。）の総株主の議決権の保有基準割合以上の数の対象議決権を保有する者の子会社である株式会社金融商品取引所（イからホまでに掲げる者を除く。） art-124/par-2/item-1/sub-6 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-2/item-1/sub-6 · https://japanlaw.org/l/323AC0000000025/art-124/par-2/item-1/sub-6 an incorporated financial instruments exchange that is the subsidiary company of a person that holds a number of subject voting rights in the relevant financial instruments exchange (including a person that has the relevant financial instruments exchange as its subsidiary company) which is equal to or greater than the threshold holding ratio of all shareholders' voting rights (other than a person set forth in any of (a) through (e)); Ministry of Justice translation — Japanese Law Translation Database System **二** 当該申請に係る上場に関し、当該取引所金融商品市場における取引の公正が確保されていないこと。 art-124/par-2/item-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-2/item-2 · https://japanlaw.org/l/323AC0000000025/art-124/par-2/item-2 the fairness of transactions on the financial instruments exchange market is not ensured for the listing to which the application pertains. Ministry of Justice translation — Japanese Law Translation Database System **第三項** 第百二十一条の規定にかかわらず、金融商品取引所は、次に掲げる者が発行者である有価証券をその売買のため、又は当該有価証券、当該有価証券に係る金融指標若しくは当該有価証券に係るオプションを市場デリバティブ取引のためにその開設する取引所金融商品市場に上場しようとする場合には、その上場しようとする取引所金融商品市場ごとに、その都度、その上場について、内閣総理大臣の承認を受けなければならない。ただし、次条の規定による命令に基づき上場する場合は、この限りでない。 art-124/par-3 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-3 · https://japanlaw.org/l/323AC0000000025/art-124/par-3 Notwithstanding the provisions of Article 121, if a financial instruments exchange seeks to list securities issued by any of the following persons for purchase and sale on a financial instruments exchange market it operates, or to list the securities, financial indexes connected to them, or options on them for the purpose of market derivatives transactions on a financial instruments exchange market it operates, it must obtain the approval of the Prime Minister for the listing, for each occasion and for each financial instruments exchange market on which it seeks to list them; provided, however, that this does not apply if the listing is made based on an order under the provisions of the following Article: Ministry of Justice translation — Japanese Law Translation Database System **一** 当該金融商品取引所（当該金融商品取引所を子会社とする者を含む。）の総株主の議決権の保有基準割合以上の数の対象議決権を保有する者（第一項各号に掲げる者を除く。） art-124/par-3/item-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-3/item-1 · https://japanlaw.org/l/323AC0000000025/art-124/par-3/item-1 a person that holds a number of subject voting rights in the financial instruments exchange (including a person that has the financial instruments exchange as its subsidiary company) which is equal to or greater than the threshold holding ratio of all shareholders' voting rights (other than a person set forth in any of the items of paragraph (1)); or Ministry of Justice translation — Japanese Law Translation Database System **二** 当該金融商品取引所の子会社（当該子会社が株式会社金融商品取引所、金融商品取引所持株会社又は親商品取引所等である場合を除く。） art-124/par-3/item-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-3/item-2 · https://japanlaw.org/l/323AC0000000025/art-124/par-3/item-2 a subsidiary company of the financial instruments exchange (unless the subsidiary company is an incorporated financial instruments exchange, financial instruments exchange holding company, or parent commodity exchange, etc.). Ministry of Justice translation — Japanese Law Translation Database System **第四項** 内閣総理大臣は、前項の承認の申請があつた場合においては、当該申請に係る上場に関し、当該取引所金融商品市場における取引の公正が確保されていないと認めるときは、同項の承認をしてはならない。 art-124/par-4 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-4 · https://japanlaw.org/l/323AC0000000025/art-124/par-4 If an application is filed for the approval referred to in the preceding paragraph and the Prime Minister finds that the fairness of transactions on the financial instruments exchange market is not ensured for the listing to which the application pertains, the Prime Minister must not grant the approval referred to in that paragraph. Ministry of Justice translation — Japanese Law Translation Database System --- ## Cites - art-124/par-1: 第百二十一条 → 金融商品取引法 第百二十一条 (Article 121), art-121 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-121 · https://japanlaw.org/l/323AC0000000025/art-121 - art-124/par-1: 次条 → 金融商品取引法 第百二十五条 (Article 125), art-125 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-125 · https://japanlaw.org/l/323AC0000000025/art-125 - art-124/par-1/item-3: 前二号 → 金融商品取引法 第百二十四条第一項第一号 (Article 124, paragraph (1), item (i)), art-124/par-1/item-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-124/par-1/item-1 - art-124/par-1/item-3: 前二号 → 金融商品取引法 第百二十四条第一項第二号 (Article 124, paragraph (1), item (ii)), art-124/par-1/item-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-1/item-2 · https://japanlaw.org/l/323AC0000000025/art-124/par-1/item-2 - art-124/par-1/item-5: 第一号 → 金融商品取引法 第百二十四条第一項第一号 (Article 124, paragraph (1), item (i)), art-124/par-1/item-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-124/par-1/item-1 - art-124/par-1/item-5: 第二号 → 金融商品取引法 第百二十四条第一項第二号 (Article 124, paragraph (1), item (ii)), art-124/par-1/item-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-1/item-2 · https://japanlaw.org/l/323AC0000000025/art-124/par-1/item-2 - art-124/par-2: 前項 → 金融商品取引法 第百二十四条第一項 (Article 124, paragraph (1)), art-124/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-1 · https://japanlaw.org/l/323AC0000000025/art-124/par-1 - art-124/par-3: 第百二十一条 → 金融商品取引法 第百二十一条 (Article 121), art-121 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-121 · https://japanlaw.org/l/323AC0000000025/art-121 - art-124/par-3: 次条 → 金融商品取引法 第百二十五条 (Article 125), art-125 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-125 · https://japanlaw.org/l/323AC0000000025/art-125 - art-124/par-3/item-1: 第一項 → 金融商品取引法 第百二十四条第一項 (Article 124, paragraph (1)), art-124/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-1 · https://japanlaw.org/l/323AC0000000025/art-124/par-1 - art-124/par-4: 前項 → 金融商品取引法 第百二十四条第三項 (Article 124, paragraph (3)), art-124/par-3 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-3 · https://japanlaw.org/l/323AC0000000025/art-124/par-3 ## Cited by 13 provisions cite this one. No official source publishes this direction. - 金融商品取引法 第百二十四条第一項第三号（自ら開設する取引所金融商品市場への上場の承認） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-1/item-3 · https://japanlaw.org/l/323AC0000000025/art-124/par-1/item-3 - 金融商品取引法 第百二十四条第一項第五号（自ら開設する取引所金融商品市場への上場の承認） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-1/item-5 · https://japanlaw.org/l/323AC0000000025/art-124/par-1/item-5 - 金融商品取引法 第百二十四条第二項（自ら開設する取引所金融商品市場への上場の承認） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-2 · https://japanlaw.org/l/323AC0000000025/art-124/par-2 - 金融商品取引法 第百二十四条第三項第一号（自ら開設する取引所金融商品市場への上場の承認） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-3/item-1 · https://japanlaw.org/l/323AC0000000025/art-124/par-3/item-1 - 金融商品取引法 第百二十四条第四項（自ら開設する取引所金融商品市場への上場の承認） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-124/par-4 · https://japanlaw.org/l/323AC0000000025/art-124/par-4 - 金融商品取引法 第百二十六条第二項（上場廃止の届出等） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-126/par-2 · https://japanlaw.org/l/323AC0000000025/art-126/par-2 - 金融商品取引法 第百三十三条の二第一項（対象議決権に係る規定の準用） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-133-2/par-1 · https://japanlaw.org/l/323AC0000000025/art-133-2/par-1 - 金融商品取引法 第百五十四条の二第一項（内閣府令への委任） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-154-2/par-1 · https://japanlaw.org/l/323AC0000000025/art-154-2/par-1 - 金融商品取引法 第二百六条第一項第五号 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-206/par-1/item-5 · https://japanlaw.org/l/323AC0000000025/art-206/par-1/item-5 - 金融商品取引法 附則第百二十四条第一項 — https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4181-65/art-124/par-1 · https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-124/par-1 - 金融商品取引法 附則第百二十四条第二項 — https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4181-65/art-124/par-2 · https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-124/par-2 - 金融商品取引法 附則第百二十四条第三項 — https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4181-65/art-124/par-3 · https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-124/par-3 - 金融商品取引法 附則第百二十四条第四項 — https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4181-65/art-124/par-4 · https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-124/par-4 --- ## Sources - e-Gov 法令検索, Digital Agency (デジタル庁) — 金融商品取引法 — the text in force from 2026-08-12 (https://laws.e-gov.go.jp/law/323AC0000000025/20260812_508AC0000000064), 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 - This site's parser, version 212 — 金融商品取引法 — structure, counts, cross-references and defined terms, computed 2026-10-22