# 所得税法施行令 / Order for Enforcement of the Income Tax Act — 第三百五十四条 (Article 354)

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- Law: 所得税法施行令 (Order for Enforcement of the Income Tax Act), 昭和四十年政令第九十六号
- English title "Order for Enforcement of the Income Tax Act": Ministry of Justice translation
- Kind: CabinetOrder — 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: 第三百五十四条 (Article 354)（新株予約権の行使に関する調書） — address `art-354`
- Text in force since: 2026-05-22
- URL (the page that opens at this provision): https://japanlaw.org/en/income-tax-act-enforcement-order/art-354
- e-Gov law ID: 340CO0000000096 — never renamed. A permanent link, `/l/{lawId}/{address}` on this site, redirects to the page.
- Every provision below carries its address and its URL 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.

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### 第三百五十四条（新株予約権の行使に関する調書） — Report on the Exercise of Share Options
<sup>caption: machine translation, not official</sup>
<sup>art-354 · https://japanlaw.org/en/income-tax-act-enforcement-order/art-354</sup>

**第一項**  法第二百二十八条の二（新株予約権の行使に関する調書）に規定する政令で定める新株予約権は、次に掲げる新株予約権とする。
<sup>art-354/par-1 · https://japanlaw.org/en/income-tax-act-enforcement-order/art-354/par-1</sup>
The share options specified by Cabinet Order prescribed in Article 228-2 (Report on the Exercise of Share Options) of the Act are to be the following share options:
<sup>machine translation, not official</sup>

  **一**  新株予約権を引き受ける者に特に有利な条件又は金額であることとされる当該新株予約権
  <sup>art-354/par-1/item-1 · https://japanlaw.org/en/income-tax-act-enforcement-order/art-354/par-1/item-1</sup>
  share options that are provided to be on terms or in an amount particularly favorable to the person who subscribes for those share options;
  <sup>machine translation, not official</sup>

  **二**  役務の提供その他の行為に係る対価の全部又は一部として発行又は割当てをすることとされる新株予約権（前号に該当するものを除く。）
  <sup>art-354/par-1/item-2 · https://japanlaw.org/en/income-tax-act-enforcement-order/art-354/par-1/item-2</sup>
  share options (excluding those falling under the preceding item) that are provided to be issued or allotted as the whole or part of consideration for the provision of services or other acts.
  <sup>machine translation, not official</sup>

**第二項**  法第二百二十八条の二に規定する政令で定める発行又は割当ては、同条に規定する新株予約権の発行又は割当てに係る金銭により払い込まれるべき額と当該新株予約権の行使に際して払い込まれるべき額との合計額を当該新株予約権の行使によつて交付することとなる株式の数で除して計算した金額が当該新株予約権の発行又は割当てに係る同条に規定する決議の時における当該新株予約権を発行又は割当てをした株式会社の株式の一株当たりの価額に相当する金額に満たない場合における当該新株予約権の発行又は割当てとする。
<sup>art-354/par-2 · https://japanlaw.org/en/income-tax-act-enforcement-order/art-354/par-2</sup>
The issuance or allotment specified by Cabinet Order prescribed in Article 228-2 of the Act is to be the issuance or allotment of a share option in the case where the amount calculated by dividing the sum of the amount to be paid in money in relation to the issuance or allotment of the share option prescribed in that Article and the amount to be paid upon the exercise of that share option by the number of shares to be delivered through the exercise of that share option is less than the amount equivalent to the value per share of the shares of the stock company that issued or allotted that share option at the time of the resolution prescribed in that Article relating to the issuance or allotment of that share option.
<sup>machine translation, not official</sup>

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## Cites
- art-354/par-1: 法第二百二十八条の二 → 所得税法 第二百二十八条の二 (Article 228-2), art-228-2 — https://japanlaw.org/en/income-tax-act/art-228-2 (e-Gov law ID 340AC0000000033)
- art-354/par-1/item-2: 前号 → 所得税法施行令 第三百五十四条第一項第一号 (Article 354, paragraph (1), item (i)), art-354/par-1/item-1 — https://japanlaw.org/en/income-tax-act-enforcement-order/art-354/par-1/item-1
- art-354/par-2: 法第二百二十八条の二 → 所得税法 第二百二十八条の二 (Article 228-2), art-228-2 — https://japanlaw.org/en/income-tax-act/art-228-2 (e-Gov law ID 340AC0000000033)

## Cited by

2 provisions cite this one. No official source publishes this direction.

- 所得税法施行令 第三百五十四条第一項第二号（新株予約権の行使に関する調書） — https://japanlaw.org/en/income-tax-act-enforcement-order/art-354/par-1/item-2
- 所得税法施行令 附則第二十一条第一項（新株予約権の行使に関する調書等の提出に関する経過措置） — https://japanlaw.org/en/income-tax-act-enforcement-order/suppl-4182-124/art-21/par-1

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## Sources

- e-Gov 法令検索, Digital Agency (デジタル庁) — 所得税法施行令 — the text in force from 2026-05-22 (https://laws.e-gov.go.jp/law/340CO0000000096/20260522_508CO0000000093), retrieved 2026-11-06
- Japanese Law Translation Database System, Ministry of Justice (法務省) — Order for Enforcement of the Income Tax Act — Ministry of Justice translation (https://www.japaneselawtranslation.go.jp/en/laws/view/3121/tb), retrieved 2026-11-06
- claude-sonnet-5-5 — Machine translation, batch income-tax-act-enforcement-order-20261106T163957-115, translated 2026-11-07
- This site's parser, version 229 — 所得税法施行令 — structure, counts, cross-references and defined terms, computed 2026-11-06