# 会社法 / Companies Act — 第二百三十四条 (Article 234)

- Law: 会社法 (Companies Act), 平成十七年法律第八十六号
- English title "Companies 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: 第二百三十四条 (Article 234)（一に満たない端数の処理） — address `art-234`
- Text in force since: 2026-08-12
- URL (the page that opens at this provision): https://japanlaw.org/ja/companies-act/art-234
- Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/417AC0000000086/art-234
- 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.

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### 第二百三十四条（一に満たない端数の処理） — (Treatment of Fractional Shares)
<sup>caption: Ministry of Justice translation — Japanese Law Translation Database System</sup>
<sup>art-234 · https://japanlaw.org/ja/companies-act/art-234 · https://japanlaw.org/l/417AC0000000086/art-234</sup>

    **第一項**  次の各号に掲げる行為に際して当該各号に定める者に当該株式会社の株式を交付する場合において、その者に対し交付しなければならない当該株式会社の株式の数に一株に満たない端数があるときは、その端数の合計数（その合計数に一に満たない端数がある場合にあっては、これを切り捨てるものとする。）に相当する数の株式を競売し、かつ、その端数に応じてその競売により得られた代金を当該者に交付しなければならない。
    <sup>art-234/par-1 · https://japanlaw.org/ja/companies-act/art-234/par-1 · https://japanlaw.org/l/417AC0000000086/art-234/par-1</sup>
    If a stock company delivers shares in relevant stock company to the persons specified in each of those items when any act set forth in the items is carried out, if the number of the shares of relevant stock company that must be delivered to that persons includes a fractional share, the stock company must sell the number of shares equivalent to the total sum of the fractional shares by auction (if the total sum includes a fractional share, that fractional share is to be rounded off) and must deliver the proceeds of that auction to relevant persons in proportion to the fractional shares attributed to them:
    <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

      **一**  第百七十条第一項の規定による株式の取得　当該株式会社の株主
      <sup>art-234/par-1/item-1 · https://japanlaw.org/ja/companies-act/art-234/par-1/item-1 · https://japanlaw.org/l/417AC0000000086/art-234/par-1/item-1</sup>
      the acquisition of shares under the provisions of Article 170, paragraph (1):the shareholders of relevant stock company;
      <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

      **二**  第百七十三条第一項の規定による株式の取得　当該株式会社の株主
      <sup>art-234/par-1/item-2 · https://japanlaw.org/ja/companies-act/art-234/par-1/item-2 · https://japanlaw.org/l/417AC0000000086/art-234/par-1/item-2</sup>
      the acquisition of shares under the provisions of Article 173, paragraph (1):the shareholders of relevant stock company;
      <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

      **三**  第百八十五条に規定する株式無償割当て　当該株式会社の株主
      <sup>art-234/par-1/item-3 · https://japanlaw.org/ja/companies-act/art-234/par-1/item-3 · https://japanlaw.org/l/417AC0000000086/art-234/par-1/item-3</sup>
      the allotment of shares without contribution provided for in the provisions of Article 185:the shareholders of relevant stock company;
      <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

      **四**  第二百七十五条第一項の規定による新株予約権の取得　第二百三十六条第一項第七号イの新株予約権の新株予約権者
      <sup>art-234/par-1/item-4 · https://japanlaw.org/ja/companies-act/art-234/par-1/item-4 · https://japanlaw.org/l/417AC0000000086/art-234/par-1/item-4</sup>
      the acquisition of share options pursuant to the provisions of Article 275, paragraph (1):the holders of the share options provided for in Article 236, paragraph (1), item (vii), (a);
      <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

      **五**  合併（合併により当該株式会社が存続する場合に限る。）　合併後消滅する会社の株主又は社員
      <sup>art-234/par-1/item-5 · https://japanlaw.org/ja/companies-act/art-234/par-1/item-5 · https://japanlaw.org/l/417AC0000000086/art-234/par-1/item-5</sup>
      merger (but only if the stock company survives the merger):the shareholders or members of the company disappearing due to the merger;
      <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

      **六**  合併契約に基づく設立時発行株式の発行　合併後消滅する会社の株主又は社員
      <sup>art-234/par-1/item-6 · https://japanlaw.org/ja/companies-act/art-234/par-1/item-6 · https://japanlaw.org/l/417AC0000000086/art-234/par-1/item-6</sup>
      the issuing of shares to be issued at the time of incorporation under merger contracts:the shareholders or members of the company disappearing due to the merger;
      <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

      **七**  株式交換による他の株式会社の発行済株式全部の取得　株式交換をする株式会社の株主
      <sup>art-234/par-1/item-7 · https://japanlaw.org/ja/companies-act/art-234/par-1/item-7 · https://japanlaw.org/l/417AC0000000086/art-234/par-1/item-7</sup>
      the acquisition of all issued shares of another stock company by share exchange:the shareholders of the stock company that effects the share exchange;
      <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

      **八**  株式移転計画に基づく設立時発行株式の発行　株式移転をする株式会社の株主
      <sup>art-234/par-1/item-8 · https://japanlaw.org/ja/companies-act/art-234/par-1/item-8 · https://japanlaw.org/l/417AC0000000086/art-234/par-1/item-8</sup>
      the issuing of shares to be issued at the time of incorporation under share transfer plan:the shareholders of the stock company that effects the share transfer plan.
      <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

      **九**  株式交付　株式交付親会社（第七百七十四条の三第一項第一号に規定する株式交付親会社をいう。）に株式交付に際して株式交付子会社（同号に規定する株式交付子会社をいう。）の株式又は新株予約権等（同項第七号に規定する新株予約権等をいう。）を譲り渡した者
      <sup>art-234/par-1/item-9 · https://japanlaw.org/ja/companies-act/art-234/par-1/item-9 · https://japanlaw.org/l/417AC0000000086/art-234/par-1/item-9</sup>
      partial share exchange:the person who, in a partial share exchange, transferred the shares or share options, etc. (meaning share options, etc. provided in Article 774-3, paragraph (1), item (vii)) of a subsidiary company resulting from a partial share exchange (meaning a subsidiary company resulting from a partial share exchange provided in Article 774-3, paragraph (1), item (i) ) to a share delivery parent company (meaning a parent company resulting from a partial share exchange provided in that item).
      <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

    **第二項**  株式会社は、前項の規定による競売に代えて、市場価格のある同項の株式については市場価格として法務省令で定める方法により算定される額をもって、市場価格のない同項の株式については裁判所の許可を得て競売以外の方法により、これを売却することができる。この場合において、当該許可の申立ては、取締役が二人以上あるときは、その全員の同意によってしなければならない。
    <sup>art-234/par-2 · https://japanlaw.org/ja/companies-act/art-234/par-2 · https://japanlaw.org/l/417AC0000000086/art-234/par-2</sup>
    In lieu of sale by auction under the provisions of the preceding paragraph, a stock company may sell shares under that paragraph with a market price in an amount calculated by the method prescribed by Ministry of Justice Order as the market price thereof, and shares under that paragraph without a market price using a method other than auction with the permission of the court. In these cases, if there are two or more directors, the petition for relevant permission must be filed with the consent of all directors.
    <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

    **第三項**  前項の規定により第一項の株式を売却した場合における同項の規定の適用については、同項中「競売により」とあるのは、「売却により」とする。
    <sup>art-234/par-3 · https://japanlaw.org/ja/companies-act/art-234/par-3 · https://japanlaw.org/l/417AC0000000086/art-234/par-3</sup>
    For the purpose of the application of the provisions of the preceding paragraph if the shares under paragraph (1) are sold, the phrase "of that auction" in paragraph (1) is deemed to be replaced with "of that sale".
    <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

    **第四項**  株式会社は、第二項の規定により売却する株式の全部又は一部を買い取ることができる。この場合においては、次に掲げる事項を定めなければならない。
    <sup>art-234/par-4 · https://japanlaw.org/ja/companies-act/art-234/par-4 · https://japanlaw.org/l/417AC0000000086/art-234/par-4</sup>
    A stock company may purchase some or all of the shares sold pursuant to the provisions of paragraph (2). In these cases, the following matters must be prescribed:
    <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

      **一**  買い取る株式の数（種類株式発行会社にあっては、株式の種類及び種類ごとの数）
      <sup>art-234/par-4/item-1 · https://japanlaw.org/ja/companies-act/art-234/par-4/item-1 · https://japanlaw.org/l/417AC0000000086/art-234/par-4/item-1</sup>
      the number of shares to be purchased (or, for a company with class shares, the classes of the shares and the number of shares for each class); and
      <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

      **二**  前号の株式の買取りをするのと引換えに交付する金銭の総額
      <sup>art-234/par-4/item-2 · https://japanlaw.org/ja/companies-act/art-234/par-4/item-2 · https://japanlaw.org/l/417AC0000000086/art-234/par-4/item-2</sup>
      the total amount of the monies to be delivered in exchange for the purchase of the shares under the preceding item.
      <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

    **第五項**  取締役会設置会社においては、前項各号に掲げる事項の決定は、取締役会の決議によらなければならない。
    <sup>art-234/par-5 · https://japanlaw.org/ja/companies-act/art-234/par-5 · https://japanlaw.org/l/417AC0000000086/art-234/par-5</sup>
    A company with board of directors must determine the matters set forth in each item of the preceding paragraph by a resolution of the board of directors meeting.
    <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

    **第六項**  第一項から第四項までの規定は、第一項各号に掲げる行為に際して当該各号に定める者に当該株式会社の社債又は新株予約権を交付するときについて準用する。
    <sup>art-234/par-6 · https://japanlaw.org/ja/companies-act/art-234/par-6 · https://japanlaw.org/l/417AC0000000086/art-234/par-6</sup>
    The provisions of paragraphs (1) through (4) apply mutatis mutandis to cases where bonds or share options of relevant stock company are delivered to the persons specified in each of those items of paragraph (1) when any act set forth in relevant items is carried out.
    <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

---

## Cites
- art-234/par-1/item-1: 第百七十条第一項 → 会社法 第百七十条第一項 (Article 170, paragraph (1)), art-170/par-1 — https://japanlaw.org/ja/companies-act/art-170/par-1 · https://japanlaw.org/l/417AC0000000086/art-170/par-1
- art-234/par-1/item-2: 第百七十三条第一項 → 会社法 第百七十三条第一項 (Article 173, paragraph (1)), art-173/par-1 — https://japanlaw.org/ja/companies-act/art-173/par-1 · https://japanlaw.org/l/417AC0000000086/art-173/par-1
- art-234/par-1/item-3: 第百八十五条 → 会社法 第百八十五条 (Article 185), art-185 — https://japanlaw.org/ja/companies-act/art-185 · https://japanlaw.org/l/417AC0000000086/art-185
- art-234/par-1/item-4: 第二百七十五条第一項 → 会社法 第二百七十五条第一項 (Article 275, paragraph (1)), art-275/par-1 — https://japanlaw.org/ja/companies-act/art-275/par-1 · https://japanlaw.org/l/417AC0000000086/art-275/par-1
- art-234/par-1/item-4: 第二百三十六条第一項第七号 → 会社法 第二百三十六条第一項第七号 (Article 236, paragraph (1), item (vii)), art-236/par-1/item-7 — https://japanlaw.org/ja/companies-act/art-236/par-1/item-7 · https://japanlaw.org/l/417AC0000000086/art-236/par-1/item-7
- art-234/par-1/item-9: 第七百七十四条の三第一項第一号 → 会社法 第七百七十四条の三第一項第一号 (Article 774-3, paragraph (1), item (i)), art-774-3/par-1/item-1 — https://japanlaw.org/ja/companies-act/art-774-3/par-1/item-1 · https://japanlaw.org/l/417AC0000000086/art-774-3/par-1/item-1
- art-234/par-1/item-9: 同項第七号 → 会社法 第七百七十四条の三第一項第七号 (Article 774-3, paragraph (1), item (vii)), art-774-3/par-1/item-7 — https://japanlaw.org/ja/companies-act/art-774-3/par-1/item-7 · https://japanlaw.org/l/417AC0000000086/art-774-3/par-1/item-7
- art-234/par-2: 前項 → 会社法 第二百三十四条第一項 (Article 234, paragraph (1)), art-234/par-1 — https://japanlaw.org/ja/companies-act/art-234/par-1 · https://japanlaw.org/l/417AC0000000086/art-234/par-1
- art-234/par-3: 前項 → 会社法 第二百三十四条第二項 (Article 234, paragraph (2)), art-234/par-2 — https://japanlaw.org/ja/companies-act/art-234/par-2 · https://japanlaw.org/l/417AC0000000086/art-234/par-2
- art-234/par-3: 第一項 → 会社法 第二百三十四条第一項 (Article 234, paragraph (1)), art-234/par-1 — https://japanlaw.org/ja/companies-act/art-234/par-1 · https://japanlaw.org/l/417AC0000000086/art-234/par-1
- art-234/par-4: 第二項 → 会社法 第二百三十四条第二項 (Article 234, paragraph (2)), art-234/par-2 — https://japanlaw.org/ja/companies-act/art-234/par-2 · https://japanlaw.org/l/417AC0000000086/art-234/par-2
- art-234/par-4/item-2: 前号 → 会社法 第二百三十四条第四項第一号 (Article 234, paragraph (4), item (i)), art-234/par-4/item-1 — https://japanlaw.org/ja/companies-act/art-234/par-4/item-1 · https://japanlaw.org/l/417AC0000000086/art-234/par-4/item-1
- art-234/par-5: 前項 → 会社法 第二百三十四条第四項 (Article 234, paragraph (4)), art-234/par-4 — https://japanlaw.org/ja/companies-act/art-234/par-4 · https://japanlaw.org/l/417AC0000000086/art-234/par-4
- art-234/par-6: 第一項から第四項まで → 会社法 第二百三十四条第一項 (Article 234, paragraph (1)), art-234/par-1 — https://japanlaw.org/ja/companies-act/art-234/par-1 · https://japanlaw.org/l/417AC0000000086/art-234/par-1
- art-234/par-6: 第一項から第四項まで → 会社法 第二百三十四条第二項 (Article 234, paragraph (2)), art-234/par-2 — https://japanlaw.org/ja/companies-act/art-234/par-2 · https://japanlaw.org/l/417AC0000000086/art-234/par-2
- art-234/par-6: 第一項から第四項まで → 会社法 第二百三十四条第三項 (Article 234, paragraph (3)), art-234/par-3 — https://japanlaw.org/ja/companies-act/art-234/par-3 · https://japanlaw.org/l/417AC0000000086/art-234/par-3
- art-234/par-6: 第一項から第四項まで → 会社法 第二百三十四条第四項 (Article 234, paragraph (4)), art-234/par-4 — https://japanlaw.org/ja/companies-act/art-234/par-4 · https://japanlaw.org/l/417AC0000000086/art-234/par-4

## Cited by

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

- 会社法 第百五十五条第一項第九号 — https://japanlaw.org/ja/companies-act/art-155/par-1/item-9 · https://japanlaw.org/l/417AC0000000086/art-155/par-1/item-9
- 会社法 第二百三十四条第二項（一に満たない端数の処理） — https://japanlaw.org/ja/companies-act/art-234/par-2 · https://japanlaw.org/l/417AC0000000086/art-234/par-2
- 会社法 第二百三十四条第三項（一に満たない端数の処理） — https://japanlaw.org/ja/companies-act/art-234/par-3 · https://japanlaw.org/l/417AC0000000086/art-234/par-3
- 会社法 第二百三十四条第四項（一に満たない端数の処理） — https://japanlaw.org/ja/companies-act/art-234/par-4 · https://japanlaw.org/l/417AC0000000086/art-234/par-4
- 会社法 第二百三十四条第四項第二号（一に満たない端数の処理） — https://japanlaw.org/ja/companies-act/art-234/par-4/item-2 · https://japanlaw.org/l/417AC0000000086/art-234/par-4/item-2
- 会社法 第二百三十四条第五項（一に満たない端数の処理） — https://japanlaw.org/ja/companies-act/art-234/par-5 · https://japanlaw.org/l/417AC0000000086/art-234/par-5
- 会社法 第二百三十四条第六項（一に満たない端数の処理） — https://japanlaw.org/ja/companies-act/art-234/par-6 · https://japanlaw.org/l/417AC0000000086/art-234/par-6
- 会社法 第二百三十五条第二項 — https://japanlaw.org/ja/companies-act/art-235/par-2 · https://japanlaw.org/l/417AC0000000086/art-235/par-2
- 会社法 第四百六十一条第一項第七号（配当等の制限） — https://japanlaw.org/ja/companies-act/art-461/par-1/item-7 · https://japanlaw.org/l/417AC0000000086/art-461/par-1/item-7
- 会社法 第四百六十二条第一項第五号イ（剰余金の配当等に関する責任） — https://japanlaw.org/ja/companies-act/art-462/par-1/item-5/sub-1 · https://japanlaw.org/l/417AC0000000086/art-462/par-1/item-5/sub-1
- 会社法 第四百六十二条第一項第五号ロ（剰余金の配当等に関する責任） — https://japanlaw.org/ja/companies-act/art-462/par-1/item-5/sub-2 · https://japanlaw.org/l/417AC0000000086/art-462/par-1/item-5/sub-2
- 会社法 第四百六十五条第一項第九号イ（欠損が生じた場合の責任） — https://japanlaw.org/ja/companies-act/art-465/par-1/item-9/sub-1 · https://japanlaw.org/l/417AC0000000086/art-465/par-1/item-9/sub-1
- 会社法 第四百六十五条第一項第九号ロ（欠損が生じた場合の責任） — https://japanlaw.org/ja/companies-act/art-465/par-1/item-9/sub-2 · https://japanlaw.org/l/417AC0000000086/art-465/par-1/item-9/sub-2
- 所得税法 第二百二十四条の三第一項第三号（株式等の譲渡の対価の受領者等の告知） — https://japanlaw.org/ja/income-tax-act/art-224-3/par-1/item-3 · https://japanlaw.org/l/340AC0000000033/art-224-3/par-1/item-3
- 租税特別措置法 第三十七条の十二の二第二項第八号（上場株式等に係る譲渡損失の損益通算及び繰越控除） — https://japanlaw.org/ja/special-taxation-measures-act/art-37-12-2/par-2/item-8 · https://japanlaw.org/l/332AC0000000026/art-37-12-2/par-2/item-8

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## Sources

- e-Gov 法令検索, Digital Agency (デジタル庁) — 会社法 — the text in force from 2026-08-12 (https://laws.e-gov.go.jp/law/417AC0000000086/20260812_508AC0000000064), retrieved 2026-09-17
- Japanese Law Translation Database System, Ministry of Justice (法務省) — Companies Act — Ministry of Justice translation (part 1 of 2) (https://www.japaneselawtranslation.go.jp/en/laws/view/4481/tb), retrieved 2026-09-17
- This site's parser, version 211 — 会社法 — structure, counts, cross-references and defined terms, computed 2026-09-17