# 金融商品取引法 / Financial Instruments and Exchange Act — 第百六十七条の二 (Article 167-2) - 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: 第百六十七条の二 (Article 167-2)（未公表の重要事実の伝達等の禁止） — address `art-167-2` - 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-167-2 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/323AC0000000025/art-167-2 - 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. --- ### 第百六十七条の二（未公表の重要事実の伝達等の禁止） — (Prohibition of Providing Information on Unpublished Material Facts) caption: Ministry of Justice translation — Japanese Law Translation Database System art-167-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-167-2 · https://japanlaw.org/l/323AC0000000025/art-167-2 **第一項** 上場会社等に係る第百六十六条第一項に規定する会社関係者（同項後段に規定する者を含む。）であつて、当該上場会社等に係る同項に規定する業務等に関する重要事実を同項各号に定めるところにより知つたものは、他人に対し、当該業務等に関する重要事実について同項の公表がされたこととなる前に当該上場会社等の特定有価証券等に係る売買等をさせることにより当該他人に利益を得させ、又は当該他人の損失の発生を回避させる目的をもつて、当該業務等に関する重要事実を伝達し、又は当該売買等をすることを勧めてはならない。 art-167-2/par-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-167-2/par-1 · https://japanlaw.org/l/323AC0000000025/art-167-2/par-1 The corporate insider prescribed in Article 166, paragraph (1) of a listed company, etc. (including the person prescribed in the second sentence of that paragraph) that has come to know a material fact related to business or other matters of the listed company, etc. in a manner prescribed in any of the items of that paragraph must not provide information on the material facts related to business or other matters or recommend the purchase and sale, etc. for the purpose of having other persons gain profits or preventing them from incurring losses by having them make purchase and sale, etc. of regulated securities, etc. of the listed company, etc. before the publication set forth in that paragraph is made with regard to the material facts related to business or other matters. Ministry of Justice translation — Japanese Law Translation Database System **第二項** 公開買付者等に係る前条第一項に規定する公開買付者等関係者（同項後段に規定する者を含む。）であつて、当該公開買付者等の公開買付け等事実を同項各号に定めるところにより知つたものは、他人に対し、当該公開買付け等事実について同項の公表がされたこととなる前に、同項に規定する公開買付け等の実施に関する事実に係る場合にあつては当該公開買付け等に係る株券等に係る買付け等をさせ、又は同項に規定する公開買付け等の中止に関する事実に係る場合にあつては当該公開買付け等に係る株券等に係る売付け等をさせることにより当該他人に利益を得させ、又は当該他人の損失の発生を回避させる目的をもつて、当該公開買付け等事実を伝達し、又は当該買付け等若しくは当該売付け等をすることを勧めてはならない。 art-167-2/par-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/art-167-2/par-2 · https://japanlaw.org/l/323AC0000000025/art-167-2/par-2 The person concerned with tender offeror, etc. prescribed in paragraph (1) of the preceding Article (including the person prescribed in the second sentence of that paragraph) related to a tender offeror, etc. that has come to know a fact concerning tender offer, etc. by the tender offeror, etc. in the manner as prescribed in any of the items of that paragraph must not provide information on the fact concerning tender offer, etc. or recommend the purchase, etc. or the sales, etc. for the purpose of having other persons gain profits or preventing them from incurring losses by having them make purchase and sale, etc. of share certificates, etc. related to the tender offer, etc. in cases where the fact is the fact concerning launch of a tender offer, etc. prescribed in that paragraph, or by having them make sales, etc. of share certificates, etc. related to the tender offer, etc. in cases where the fact is the fact concerning suspension of a tender offer, etc. prescribed in that paragraph, before the publication set forth in that paragraph is made with regard to the fact concerning tender offer, etc. Ministry of Justice translation — Japanese Law Translation Database System --- ## Cites - art-167-2/par-1: 第百六十六条第一項 → 金融商品取引法 第百六十六条第一項 (Article 166, paragraph (1)), art-166/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-166/par-1 · https://japanlaw.org/l/323AC0000000025/art-166/par-1 - art-167-2/par-2: 前条第一項 → 金融商品取引法 第百六十七条第一項 (Article 167, paragraph (1)), art-167/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-167/par-1 · https://japanlaw.org/l/323AC0000000025/art-167/par-1 ## Cited by 12 provisions cite this one. No official source publishes this direction. - 金融商品取引法 第百六十三条第一項（上場会社等の役員等による特定有価証券等の売買等の報告の提出） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-163/par-1 · https://japanlaw.org/l/323AC0000000025/art-163/par-1 - 金融商品取引法 第百六十六条第一項（会社関係者の禁止行為） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-166/par-1 · https://japanlaw.org/l/323AC0000000025/art-166/par-1 - 金融商品取引法 第百六十七条第一項（公開買付者等関係者の禁止行為） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-167/par-1 · https://japanlaw.org/l/323AC0000000025/art-167/par-1 - 金融商品取引法 第百六十七条第三項（公開買付者等関係者の禁止行為） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-167/par-3 · https://japanlaw.org/l/323AC0000000025/art-167/par-3 - 金融商品取引法 第百七十五条の二第一項（未公表の重要事実の伝達等の禁止に違反した者に対する課徴金納付命令） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-175-2/par-1 · https://japanlaw.org/l/323AC0000000025/art-175-2/par-1 - 金融商品取引法 第百七十五条の二第二項（未公表の重要事実の伝達等の禁止に違反した者に対する課徴金納付命令） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-175-2/par-2 · https://japanlaw.org/l/323AC0000000025/art-175-2/par-2 - 金融商品取引法 第百七十五条の二第十三項（未公表の重要事実の伝達等の禁止に違反した者に対する課徴金納付命令） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-175-2/par-13 · https://japanlaw.org/l/323AC0000000025/art-175-2/par-13 - 金融商品取引法 第百七十五条の二第十四項（未公表の重要事実の伝達等の禁止に違反した者に対する課徴金納付命令） — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-175-2/par-14 · https://japanlaw.org/l/323AC0000000025/art-175-2/par-14 - 金融商品取引法 第百九十七条の二第一項第十四号 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-197-2/par-1/item-14 · https://japanlaw.org/l/323AC0000000025/art-197-2/par-1/item-14 - 金融商品取引法 第百九十七条の二第一項第十五号 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-197-2/par-1/item-15 · https://japanlaw.org/l/323AC0000000025/art-197-2/par-1/item-15 - 金融商品取引法 附則第五条第二項 — https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4251-45/art-5/par-2 · https://japanlaw.org/l/323AC0000000025/suppl-4251-45/art-5/par-2 - 金融商品取引法 附則第七条第二項（第二条の規定による金融商品取引法の一部改正に伴う経過措置） — https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4251-45/art-7/par-2 · https://japanlaw.org/l/323AC0000000025/suppl-4251-45/art-7/par-2 --- ## 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