# 会社法 / Companies Act — 第二百八十一条 (Article 281) - 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: 第二百八十一条 (Article 281)（新株予約権の行使に際しての払込み） — address `art-281` - Text in force since: 2026-08-12 - URL (the page that opens at this provision): https://japanlaw.org/ja/companies-act/art-281 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/417AC0000000086/art-281 - 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. --- ### 第二百八十一条（新株予約権の行使に際しての払込み） — (Payment of Amount to Be Paid in on Exercise of Share Option) caption: Ministry of Justice translation — Japanese Law Translation Database System art-281 · https://japanlaw.org/ja/companies-act/art-281 · https://japanlaw.org/l/417AC0000000086/art-281 **第一項** 金銭を新株予約権の行使に際してする出資の目的とするときは、新株予約権者は、前条第一項第二号の日に、株式会社が定めた銀行等の払込みの取扱いの場所において、その行使に係る新株予約権についての第二百三十六条第一項第二号の価額の全額を払い込まなければならない。 art-281/par-1 · https://japanlaw.org/ja/companies-act/art-281/par-1 · https://japanlaw.org/l/417AC0000000086/art-281/par-1 If monies are the subject of the contribution to be made on the exercise of share options, the share option holders must pay in the entire amount of the value provided for in Article 236, paragraph (1), item (ii) with respect to the share options relating to relevant exercise at the place for the handling of bank, etc. payments designated by the stock company on the day provided for in paragraph (1), item (ii) of the preceding Article. Ministry of Justice translation — Japanese Law Translation Database System **第二項** 金銭以外の財産を新株予約権の行使に際してする出資の目的とするときは、新株予約権者は、前条第一項第二号の日に、その行使に係る新株予約権についての第二百三十六条第一項第三号の財産を給付しなければならない。この場合において、当該財産の価額が同項第二号の価額に足りないときは、前項の払込みの取扱いの場所においてその差額に相当する金銭を払い込まなければならない。 art-281/par-2 · https://japanlaw.org/ja/companies-act/art-281/par-2 · https://japanlaw.org/l/417AC0000000086/art-281/par-2 If any property other than monies is the subject of the contribution to be made on the exercise of share options, the share option holders must deliver the property provided for in Article 236, paragraph (1), item (iii) with respect to the share options relating to that exercise on the day provided for in paragraph (1), item (ii) of the preceding Article. In these cases, if the value of the property falls short of the value provided for in Article 236, paragraph (1), item (ii), the holders of the share options must pay in monies equivalent to the balance thereof at the place for the handling of payments referred to in the preceding paragraph. Ministry of Justice translation — Japanese Law Translation Database System **第三項** 新株予約権者は、第一項の規定による払込み又は前項の規定による給付をする債務と株式会社に対する債権とを相殺することができない。 art-281/par-3 · https://japanlaw.org/ja/companies-act/art-281/par-3 · https://japanlaw.org/l/417AC0000000086/art-281/par-3 Share option holders may not set off their obligations to effect payment under the provisions of paragraph (1) or delivery under the provisions of the preceding paragraph against claims the holders of share options have against the stock company. Ministry of Justice translation — Japanese Law Translation Database System --- ## Cites - art-281/par-1: 前条第一項第二号 → 会社法 第二百八十条第一項第二号 (Article 280, paragraph (1), item (ii)), art-280/par-1/item-2 — https://japanlaw.org/ja/companies-act/art-280/par-1/item-2 · https://japanlaw.org/l/417AC0000000086/art-280/par-1/item-2 - art-281/par-1: 第二百三十六条第一項第二号 → 会社法 第二百三十六条第一項第二号 (Article 236, paragraph (1), item (ii)), art-236/par-1/item-2 — https://japanlaw.org/ja/companies-act/art-236/par-1/item-2 · https://japanlaw.org/l/417AC0000000086/art-236/par-1/item-2 - art-281/par-2: 前条第一項第二号 → 会社法 第二百八十条第一項第二号 (Article 280, paragraph (1), item (ii)), art-280/par-1/item-2 — https://japanlaw.org/ja/companies-act/art-280/par-1/item-2 · https://japanlaw.org/l/417AC0000000086/art-280/par-1/item-2 - art-281/par-2: 第二百三十六条第一項第三号 → 会社法 第二百三十六条第一項第三号 (Article 236, paragraph (1), item (iii)), art-236/par-1/item-3 — https://japanlaw.org/ja/companies-act/art-236/par-1/item-3 · https://japanlaw.org/l/417AC0000000086/art-236/par-1/item-3 - art-281/par-2: 同項第二号 → 会社法 第二百三十六条第一項第二号 (Article 236, paragraph (1), item (ii)), art-236/par-1/item-2 — https://japanlaw.org/ja/companies-act/art-236/par-1/item-2 · https://japanlaw.org/l/417AC0000000086/art-236/par-1/item-2 - art-281/par-2: 前項 → 会社法 第二百八十一条第一項 (Article 281, paragraph (1)), art-281/par-1 — https://japanlaw.org/ja/companies-act/art-281/par-1 · https://japanlaw.org/l/417AC0000000086/art-281/par-1 - art-281/par-3: 第一項 → 会社法 第二百八十一条第一項 (Article 281, paragraph (1)), art-281/par-1 — https://japanlaw.org/ja/companies-act/art-281/par-1 · https://japanlaw.org/l/417AC0000000086/art-281/par-1 - art-281/par-3: 前項 → 会社法 第二百八十一条第二項 (Article 281, paragraph (2)), art-281/par-2 — https://japanlaw.org/ja/companies-act/art-281/par-2 · https://japanlaw.org/l/417AC0000000086/art-281/par-2 ## Cited by 5 provisions cite this one. No official source publishes this direction. - 会社法 第二百八十一条第二項（新株予約権の行使に際しての払込み） — https://japanlaw.org/ja/companies-act/art-281/par-2 · https://japanlaw.org/l/417AC0000000086/art-281/par-2 - 会社法 第二百八十一条第三項（新株予約権の行使に際しての払込み） — https://japanlaw.org/ja/companies-act/art-281/par-3 · https://japanlaw.org/l/417AC0000000086/art-281/par-3 - 会社法 第二百八十四条第一項 — https://japanlaw.org/ja/companies-act/art-284/par-1 · https://japanlaw.org/l/417AC0000000086/art-284/par-1 - 会社法 第二百八十六条の二第一項第二号（新株予約権に係る払込み等を仮装した新株予約権者等の責任） — https://japanlaw.org/ja/companies-act/art-286-2/par-1/item-2 · https://japanlaw.org/l/417AC0000000086/art-286-2/par-1/item-2 - 会社法 第二百八十六条の二第一項第三号（新株予約権に係る払込み等を仮装した新株予約権者等の責任） — https://japanlaw.org/ja/companies-act/art-286-2/par-1/item-3 · https://japanlaw.org/l/417AC0000000086/art-286-2/par-1/item-3 --- ## 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