# Article 27-2, paragraph (1), its wordings — Foreign Exchange and Foreign Trade Act This is the Markdown twin of https://japanlaw.org/en/foreign-exchange-and-foreign-trade-act/history/art-27-2/par-1. Every law, and how to address a provision: https://japanlaw.org/llms.txt. The same laws as MCP tools (no sign-in): https://japanlaw.org/mcp. How the wording of Article 27-2, paragraph (1) (第二十七条の二第一項) changed with each amendment, and how it will change. - Law: Foreign Exchange and Foreign Trade Act (外国為替及び外国貿易法) — https://japanlaw.org/en/foreign-exchange-and-foreign-trade-act - Provision: Article 27-2, paragraph (1) (第二十七条の二第一項) — https://japanlaw.org/en/foreign-exchange-and-foreign-trade-act/art-27-2/par-1 (as Markdown: https://japanlaw.org/md/en/foreign-exchange-and-foreign-trade-act/art-27-2/par-1) - The law's amendments: https://japanlaw.org/en/foreign-exchange-and-foreign-trade-act/amendments - 2 wordings, oldest first. ## 1. Before Act No. 30 of 2026 - State: In force Japanese: > 外国投資家（第二十六条第一項に規定する外国投資家をいい、この法律、この法律に基づく命令又はこれらに基づく処分に違反したものその他の前条第三項の規定による審査を行う必要性が高いものとして政令で定めるものを除く。以下この条において同じ。）は、対内直接投資等（第二十六条第二項に規定する対内直接投資等をいい、同項第一号から第四号まで及び第九号（第一号から第四号までに掲げる行為に準ずるものに限る。）に掲げる行為に限る。以下この条及び第二十九条第五項において同じ。）のうち、国の安全等に係る対内直接投資等に該当するおそれが大きいものとして政令で定めるもの以外のものを行おうとする場合には、前条第一項の規定にかかわらず、同項の規定による届出をすることを要しない。この場合において、当該外国投資家は、財務大臣及び事業所管大臣が定める対内直接投資等が国の安全等に係る対内直接投資等に該当しないための基準を遵守しなければならない。 English (Japanese Law Translation, Ministry of Justice): > Notwithstanding the provisions of paragraph (1) of the preceding Article, if a foreign investor (meaning a foreign investor as provided in Article 26, paragraph (1); excluding a foreign investor that has violated this Act, an Order based on this Act, or an administrative disposition based on either of these, or any other foreign investor prescribed by Cabinet Order as one for which there is a high need to carry out an examination under paragraph (3) of the preceding Article; hereinafter the same applies in this Article) seeks to conduct an inward direct investment or equivalent action (meaning an inward direct investment or equivalent action as provided in Article 26, paragraph (2); limited to an action as stated in items (i) through (iv) of that paragraph or item (ix) of that paragraph (limited to those equivalent to the actions stated in items (i) through (iv)); hereinafter the same applies in this Article and Article 29, paragraph (5)) other than one prescribed by Cabinet Order as being highly likely to constitute inward direct investment or an equivalent action that is a matter of national security or a similar concern, the foreign investor is not required to file the notification under paragraph (1) of the preceding Article. In such a case, the foreign investor must comply with the criteria that must be met in order for an inward direct investment or equivalent action not to constitute inward direct investment or an equivalent action that is a matter of national security or a similar concern, which the Minister of Finance and the competent minister for the business establish. ## 2. 4 January 2027 — Act No. 30 of 2026 - State: Not yet in force - Takes effect: 4 January 2027 - The amendment: Reworded (Act No. 30 of 2026) — https://japanlaw.org/en/foreign-exchange-and-foreign-trade-act/amendments/20270104_508AC0000000030 Japanese: > 外国投資家（第二十六条第一項に規定する外国投資家をいい、この法律、この法律に基づく命令又はこれらに基づく処分に違反したものその他の前条第三項の規定による審査を行う必要性が高いものとして政令で定めるものを除く。以下この条において同じ。）は、対内直接投資等（第二十六条第二項に規定する対内直接投資等をいい、同項第一号から第四号までに掲げる行為及び同項第十一号に掲げる行為（同項第一号から第四号までに掲げる行為に準ずるものとして政令で定める行為に限る。）に限る。以下この条及び第二十九条第七項において同じ。）のうち、国の安全等に係る対内直接投資等に該当するおそれが大きいものとして政令で定めるもの以外のものを行おうとする場合には、前条第一項の規定にかかわらず、同項の規定による届出をすることを要しない。この場合において、当該外国投資家は、財務大臣及び事業所管大臣が定める対内直接投資等が国の安全等に係る対内直接投資等に該当しないための基準を遵守しなければならない。 English (Machine translation, corrected on review, not official): > Notwithstanding the provisions of paragraph (1) of the preceding Article, if a foreign investor (meaning a foreign investor as provided in Article 26, paragraph (1); excluding a foreign investor that has violated this Act, an Order based on this Act, or an administrative disposition based on either of these, or any other foreign investor prescribed by Cabinet Order as one for which there is a high need to carry out an examination under paragraph (3) of the preceding Article; hereinafter the same applies in this Article) seeks to conduct an inward direct investment or equivalent action (meaning an inward direct investment or equivalent action as provided in Article 26, paragraph (2); limited to an action as stated in items (i) through (iv) of that paragraph and an action as stated in item (xi) of that paragraph (limited to an action prescribed by Cabinet Order as equivalent to the actions stated in items (i) through (iv) of that paragraph); hereinafter the same applies in this Article and Article 29, paragraph (7)) other than one prescribed by Cabinet Order as being highly likely to constitute an inward direct investment or equivalent action that is a matter of national security or a similar concern, the foreign investor is not required to file the notification under paragraph (1) of the preceding Article. In such a case, the foreign investor must comply with the criteria that must be met in order for an inward direct investment or equivalent action not to constitute an inward direct investment or equivalent action that is a matter of national security or a similar concern, which the Minister of Finance and the competent minister for the business establish. --- ## Sources - The dates and the amending laws: e-Gov (Digital Agency) (https://laws.e-gov.go.jp/law/324AC0000000228) - English name of the law: Japanese Law Translation, Ministry of Justice (https://www.japaneselawtranslation.go.jp/en/laws/view/4857/tb) - English titles of the amending laws: Written for this site with AI - The Japanese text before: e-Gov (Digital Agency) (https://laws.e-gov.go.jp/law/324AC0000000228/20260812_508AC0000000064) - The Japanese text after: e-Gov (Digital Agency) (https://laws.e-gov.go.jp/law/324AC0000000228/20270104_508AC0000000030)