# 金融商品取引法 / Financial Instruments and Exchange Act — 第百二十三条 (Supplementary Provisions, Article 123) - 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: 第百二十三条 (Supplementary Provisions, Article 123) — address `suppl-4181-65/art-123` - Text in force since: 2026-08-12 - URL (the page that opens at this provision): https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4181-65/art-123 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-123 - 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. --- ### 第百二十三条 suppl-4181-65/art-123 · https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4181-65/art-123 · https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-123 **第一項** この法律の施行の際現にみなし免許取引所が発行者である旧有価証券をその売買のため、又は当該旧有価証券、当該旧有価証券に係る金融指標（新金融商品取引法第二条第二十五項に規定する金融指標をいう。以下同じ。）若しくは当該旧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取引所金融商品市場（新金融商品取引法第二条第十七項に規定する取引所金融商品市場をいう。以下同じ。）その他政令で定める市場（当該みなし免許取引所（その子会社であるみなし免許取引所を含む。）及び当該みなし免許取引所の総株主の議決権の百分の五十を超える対象議決権を保有するみなし免許取引所が開設する取引所金融商品市場を除く。）に上場している当該みなし免許取引所は、施行日において当該上場につき新金融商品取引法第百二十二条第一項の承認を受けたものとみなす。 suppl-4181-65/art-123/par-1 · https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4181-65/art-123/par-1 · https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-123/par-1 A deemed licensed exchange that, at the time of the enforcement of this Act, has listed former securities issued by a deemed licensed exchange, for the purpose of their purchase and sale, or those former securities, a financial index pertaining to those former securities (meaning a financial index prescribed in Article 2, paragraph (25) of the New Financial Instruments and Exchange Act; the same applies hereinafter) or options pertaining to those former securities, for the purpose of market derivatives transactions, on a financial instruments exchange market (meaning a financial instruments exchange market prescribed in Article 2, paragraph (17) of the New Financial Instruments and Exchange Act; the same applies hereinafter) or any other market specified by Cabinet Order (excluding a financial instruments exchange market established by that deemed licensed exchange (including a deemed licensed exchange that is its subsidiary company) or by a deemed licensed exchange that holds subject voting rights exceeding 50 percent of the voting rights of all shareholders of that deemed licensed exchange) is deemed to have received, on the effective date, the approval under Article 122, paragraph (1) of the New Financial Instruments and Exchange Act with respect to that listing. machine translation, not official **第二項** 前項の「子会社」とは、みなし免許取引所がその総株主等の議決権（新金融商品取引法第二十九条の四第二項に規定する「総株主等の議決権」をいう。以下この項において同じ。）の過半数を保有する会社をいう。この場合において、金融商品取引所及びその一若しくは二以上の子会社又は金融商品取引所の一若しくは二以上の子会社がその総株主等の議決権の過半数を保有する会社は、金融商品取引所の子会社とみなす。 suppl-4181-65/art-123/par-2 · https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4181-65/art-123/par-2 · https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-123/par-2 The "subsidiary company" in the preceding paragraph means a company the majority of whose "voting rights of all shareholders, etc." (meaning the "voting rights of all shareholders, etc." prescribed in Article 29-4, paragraph (2) of the New Financial Instruments and Exchange Act; the same applies hereinafter in this paragraph) are held by a deemed licensed exchange. In this case, a company the majority of whose voting rights of all shareholders, etc. are held by a financial instruments exchange and one or more of its subsidiary companies, or by one or more subsidiary companies of a financial instruments exchange, is deemed to be a subsidiary company of the financial instruments exchange. machine translation, not official **第三項** この法律の施行の際現にみなし認可取引所持株会社が発行者である旧有価証券をその売買のため、又は当該旧有価証券、当該旧有価証券に係る金融指標若しくは当該旧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取引所金融商品市場その他政令で定める市場（当該みなし認可取引所持株会社の子会社（新金融商品取引法第百五条の十六第四項に規定する子会社をいう。）であるみなし免許取引所及び当該みなし認可取引所持株会社の総株主の議決権の百分の五十を超える対象議決権を保有するみなし免許取引所が開設する取引所金融商品市場を除く。）に上場している当該みなし認可取引所持株会社は、施行日において当該上場につき新金融商品取引法第百二十三条において準用する新金融商品取引法第百二十二条第一項の承認を受けたものとみなす。 suppl-4181-65/art-123/par-3 · https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4181-65/art-123/par-3 · https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-123/par-3 A deemed authorized exchange holding company that, at the time of the enforcement of this Act, has listed former securities issued by the deemed authorized exchange holding company, for the purpose of their purchase and sale, or those former securities, a financial index pertaining to those former securities or options pertaining to those former securities, for the purpose of market derivatives transactions, on a financial instruments exchange market or any other market specified by Cabinet Order (excluding a financial instruments exchange market established by a deemed licensed exchange that is a subsidiary company (meaning a subsidiary company prescribed in Article 105-16, paragraph (4) of the New Financial Instruments and Exchange Act) of that deemed authorized exchange holding company or by a deemed licensed exchange that holds subject voting rights exceeding 50 percent of the voting rights of all shareholders of that deemed authorized exchange holding company) is deemed to have received, on the effective date, the approval under Article 122, paragraph (1) of the New Financial Instruments and Exchange Act as applied mutatis mutandis pursuant to Article 123 of the New Financial Instruments and Exchange Act with respect to that listing. machine translation, not official --- ## Cites - suppl-4181-65/art-123/par-1: 新金融商品取引法第二条第二十五項 → 金融商品取引法 第二条第二十五項 (Article 2, paragraph (25)), art-2/par-25 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-2/par-25 · https://japanlaw.org/l/323AC0000000025/art-2/par-25 - suppl-4181-65/art-123/par-1: 新金融商品取引法第二条第十七項 → 金融商品取引法 第二条第十七項 (Article 2, paragraph (17)), art-2/par-17 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-2/par-17 · https://japanlaw.org/l/323AC0000000025/art-2/par-17 - suppl-4181-65/art-123/par-1: 新金融商品取引法第百二十二条第一項 → 金融商品取引法 第百二十二条第一項 (Article 122, paragraph (1)), art-122/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-122/par-1 · https://japanlaw.org/l/323AC0000000025/art-122/par-1 - suppl-4181-65/art-123/par-2: 前項 → 金融商品取引法 附則第百二十三条第一項 (Supplementary Provisions, Article 123, paragraph (1)), suppl-4181-65/art-123/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4181-65/art-123/par-1 · https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-123/par-1 - suppl-4181-65/art-123/par-2: 新金融商品取引法第二十九条の四第二項 → 金融商品取引法 第二十九条の四第二項 (Article 29-4, paragraph (2)), art-29-4/par-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-29-4/par-2 · https://japanlaw.org/l/323AC0000000025/art-29-4/par-2 - suppl-4181-65/art-123/par-2: この項 → 金融商品取引法 附則第百二十三条第二項 (Supplementary Provisions, Article 123, paragraph (2)), suppl-4181-65/art-123/par-2 — https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4181-65/art-123/par-2 · https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-123/par-2 - suppl-4181-65/art-123/par-3: 新金融商品取引法第百五条の十六第四項 → 金融商品取引法 第百五条の十六第四項 (Article 105-16, paragraph (4)), art-105-16/par-4 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-105-16/par-4 · https://japanlaw.org/l/323AC0000000025/art-105-16/par-4 - suppl-4181-65/art-123/par-3: 新金融商品取引法第百二十三条 → 金融商品取引法 第百二十三条 (Article 123), art-123 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-123 · https://japanlaw.org/l/323AC0000000025/art-123 - suppl-4181-65/art-123/par-3: 新金融商品取引法第百二十二条第一項 → 金融商品取引法 第百二十二条第一項 (Article 122, paragraph (1)), art-122/par-1 — https://japanlaw.org/en/financial-instruments-and-exchange-act/art-122/par-1 · https://japanlaw.org/l/323AC0000000025/art-122/par-1 ## Cited by 3 provisions cite this one. No official source publishes this direction. - 金融商品取引法 附則第三十一条第一項 — https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4181-65/art-31/par-1 · https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-31/par-1 - 金融商品取引法 附則第百二十三条第二項 — https://japanlaw.org/en/financial-instruments-and-exchange-act/suppl-4181-65/art-123/par-2 · https://japanlaw.org/l/323AC0000000025/suppl-4181-65/art-123/par-2 - 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 --- ## 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 - claude-sonnet-5-5 — Machine translation, batch financial-instruments-and-exchange-act-20261023T035921-045, 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