# 会社法 / Companies Act — 第四百四十九条 (Article 449) - 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: 第四百四十九条 (Article 449)（債権者の異議） — address `art-449` - Text in force since: 2026-08-12 - URL (the page that opens at this provision): https://japanlaw.org/ja/companies-act/art-449 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/417AC0000000086/art-449 - 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. --- ### 第四百四十九条（債権者の異議） — (Objection of Creditors) caption: Ministry of Justice translation — Japanese Law Translation Database System art-449 · https://japanlaw.org/ja/companies-act/art-449 · https://japanlaw.org/l/417AC0000000086/art-449 **第一項** 株式会社が資本金又は準備金（以下この条において「資本金等」という。）の額を減少する場合（減少する準備金の額の全部を資本金とする場合を除く。）には、当該株式会社の債権者は、当該株式会社に対し、資本金等の額の減少について異議を述べることができる。ただし、準備金の額のみを減少する場合であって、次のいずれにも該当するときは、この限りでない。 art-449/par-1 · https://japanlaw.org/ja/companies-act/art-449/par-1 · https://japanlaw.org/l/417AC0000000086/art-449/par-1 If a stock company reduces the amount of its stated capital or reserves (hereinafter in this Article referred to as "stated capitals, etc.") (excluding cases where the whole of the amount by which the reserves are reduced is appropriated to the stated capital), creditors of relevant stock company may state their objections to the reduction in the amount of the capitals, etc.; provided, however, that this does not apply to cases where only the amount of the reserves is reduced and all of the following apply: Ministry of Justice translation — Japanese Law Translation Database System **一** 定時株主総会において前条第一項各号に掲げる事項を定めること。 art-449/par-1/item-1 · https://japanlaw.org/ja/companies-act/art-449/par-1/item-1 · https://japanlaw.org/l/417AC0000000086/art-449/par-1/item-1 that matters set forth in each item of paragraph (1) of the preceding Article are decided at the annual shareholders meeting; and Ministry of Justice translation — Japanese Law Translation Database System **二** 前条第一項第一号の額が前号の定時株主総会の日（第四百三十九条前段に規定する場合にあっては、第四百三十六条第三項の承認があった日）における欠損の額として法務省令で定める方法により算定される額を超えないこと。 art-449/par-1/item-2 · https://japanlaw.org/ja/companies-act/art-449/par-1/item-2 · https://japanlaw.org/l/417AC0000000086/art-449/par-1/item-2 that the amount referred to in paragraph (1), item (i) of the preceding Article does not exceed the amount calculated in a manner prescribed by Ministry of Justice Order as the amount of the deficit as at the day of the annual shareholders meeting referred to in the preceding item (or, in cases provided for in the first sentence of Article 439, the day when the approval under Article 436, paragraph (3) is given). Ministry of Justice translation — Japanese Law Translation Database System **第二項** 前項の規定により株式会社の債権者が異議を述べることができる場合には、当該株式会社は、次に掲げる事項を官報に公告し、かつ、知れている債権者には、各別にこれを催告しなければならない。ただし、第三号の期間は、一箇月を下ることができない。 art-449/par-2 · https://japanlaw.org/ja/companies-act/art-449/par-2 · https://japanlaw.org/l/417AC0000000086/art-449/par-2 If creditors of a stock company may state their objections pursuant to the provisions of the preceding paragraph, relevant stock company must give public notice of the matters set forth below in the Official Gazette and must give notices inviting objections separately to each known creditor, if any; provided, however, that the period under item (iii) may not be less than one month: Ministry of Justice translation — Japanese Law Translation Database System **一** 当該資本金等の額の減少の内容 art-449/par-2/item-1 · https://japanlaw.org/ja/companies-act/art-449/par-2/item-1 · https://japanlaw.org/l/417AC0000000086/art-449/par-2/item-1 the details of relevant reduction in the amount of capitals, etc.; Ministry of Justice translation — Japanese Law Translation Database System **二** 当該株式会社の計算書類に関する事項として法務省令で定めるもの art-449/par-2/item-2 · https://japanlaw.org/ja/companies-act/art-449/par-2/item-2 · https://japanlaw.org/l/417AC0000000086/art-449/par-2/item-2 the matters prescribed by Ministry of Justice Order as the matters regarding the financial statements of relevant stock company; and Ministry of Justice translation — Japanese Law Translation Database System **三** 債権者が一定の期間内に異議を述べることができる旨 art-449/par-2/item-3 · https://japanlaw.org/ja/companies-act/art-449/par-2/item-3 · https://japanlaw.org/l/417AC0000000086/art-449/par-2/item-3 a statement to the effect that creditors may state their objections within a certain period of time. Ministry of Justice translation — Japanese Law Translation Database System **第三項** 前項の規定にかかわらず、株式会社が同項の規定による公告を、官報のほか、第九百三十九条第一項の規定による定款の定めに従い、同項第二号又は第三号に掲げる公告方法によりするときは、前項の規定による各別の催告は、することを要しない。 art-449/par-3 · https://japanlaw.org/ja/companies-act/art-449/par-3 · https://japanlaw.org/l/417AC0000000086/art-449/par-3 Notwithstanding the provisions of the preceding paragraph, if a stock company gives public notice under that paragraph by means of public notice set forth in Article 939, paragraph (1), item (ii) or (iii) in accordance with the provisions of the articles of incorporation pursuant to the provisions of that paragraph in addition to the Official Gazette, the stock company is not required to give separate notices under the provisions of the preceding paragraph. Ministry of Justice translation — Japanese Law Translation Database System **第四項** 債権者が第二項第三号の期間内に異議を述べなかったときは、当該債権者は、当該資本金等の額の減少について承認をしたものとみなす。 art-449/par-4 · https://japanlaw.org/ja/companies-act/art-449/par-4 · https://japanlaw.org/l/417AC0000000086/art-449/par-4 If creditors do not raise any objections within the period under paragraph (2), item (iii), relevant creditors are deemed to have approved relevant reduction in the amount of the capitals, etc. Ministry of Justice translation — Japanese Law Translation Database System **第五項** 債権者が第二項第三号の期間内に異議を述べたときは、株式会社は、当該債権者に対し、弁済し、若しくは相当の担保を提供し、又は当該債権者に弁済を受けさせることを目的として信託会社等（信託会社及び信託業務を営む金融機関（金融機関の信託業務の兼営等に関する法律（昭和十八年法律第四十三号）第一条第一項の認可を受けた金融機関をいう。）をいう。以下同じ。）に相当の財産を信託しなければならない。ただし、当該資本金等の額の減少をしても当該債権者を害するおそれがないときは、この限りでない。 art-449/par-5 · https://japanlaw.org/ja/companies-act/art-449/par-5 · https://japanlaw.org/l/417AC0000000086/art-449/par-5 If creditors raise objections within the period under paragraph (2), item (iii), the stock company must make payment or provide equivalent security to relevant creditors, or entrust equivalent property to a trust company, etc. (meaning trust companies and financial institutions that engage in trust business (meaning financial institutions approved under Article 1, paragraph (1) of the Act on the Concurrent Undertaking of Trust Business by Financial Institutions (Act No. 43 of 1943)); the same applies hereinafter) for the purpose of making relevant creditors receive the payment; provided, however, that this does not apply if there is no risk of harm to relevant creditors by relevant reduction in the amount of capitals, etc. Ministry of Justice translation — Japanese Law Translation Database System **第六項** 次の各号に掲げるものは、当該各号に定める日にその効力を生ずる。ただし、第二項から前項までの規定による手続が終了していないときは、この限りでない。 art-449/par-6 · https://japanlaw.org/ja/companies-act/art-449/par-6 · https://japanlaw.org/l/417AC0000000086/art-449/par-6 The actions set forth in the following items take effect on the day provided for in each relevant item; provided, however, that this does not apply if the procedures pursuant to the provisions of paragraph (2) through the preceding paragraph have not been completed: Ministry of Justice translation — Japanese Law Translation Database System **一** 資本金の額の減少　第四百四十七条第一項第三号の日 art-449/par-6/item-1 · https://japanlaw.org/ja/companies-act/art-449/par-6/item-1 · https://japanlaw.org/l/417AC0000000086/art-449/par-6/item-1 reduction in the amount of stated capital:the day under Article 447, paragraph (1), item (iii); and Ministry of Justice translation — Japanese Law Translation Database System **二** 準備金の額の減少　前条第一項第三号の日 art-449/par-6/item-2 · https://japanlaw.org/ja/companies-act/art-449/par-6/item-2 · https://japanlaw.org/l/417AC0000000086/art-449/par-6/item-2 reduction in the amount of the reserves:the day under paragraph (1), item (iii) of the preceding Article. Ministry of Justice translation — Japanese Law Translation Database System **第七項** 株式会社は、前項各号に定める日前は、いつでも当該日を変更することができる。 art-449/par-7 · https://japanlaw.org/ja/companies-act/art-449/par-7 · https://japanlaw.org/l/417AC0000000086/art-449/par-7 A stock company may change the day provided for in each item of the preceding paragraph at any time before relevant day. Ministry of Justice translation — Japanese Law Translation Database System --- ## Cites - art-449/par-1: この条 → 会社法 第四百四十九条 (Article 449), art-449 — https://japanlaw.org/ja/companies-act/art-449 · https://japanlaw.org/l/417AC0000000086/art-449 - art-449/par-1/item-1: 前条第一項 → 会社法 第四百四十八条第一項 (Article 448, paragraph (1)), art-448/par-1 — https://japanlaw.org/ja/companies-act/art-448/par-1 · https://japanlaw.org/l/417AC0000000086/art-448/par-1 - art-449/par-1/item-2: 前条第一項第一号 → 会社法 第四百四十八条第一項第一号 (Article 448, paragraph (1), item (i)), art-448/par-1/item-1 — https://japanlaw.org/ja/companies-act/art-448/par-1/item-1 · https://japanlaw.org/l/417AC0000000086/art-448/par-1/item-1 - art-449/par-1/item-2: 前号 → 会社法 第四百四十九条第一項第一号 (Article 449, paragraph (1), item (i)), art-449/par-1/item-1 — https://japanlaw.org/ja/companies-act/art-449/par-1/item-1 · https://japanlaw.org/l/417AC0000000086/art-449/par-1/item-1 - art-449/par-1/item-2: 第四百三十九条 → 会社法 第四百三十九条 (Article 439), art-439 — https://japanlaw.org/ja/companies-act/art-439 · https://japanlaw.org/l/417AC0000000086/art-439 - art-449/par-1/item-2: 第四百三十六条第三項 → 会社法 第四百三十六条第三項 (Article 436, paragraph (3)), art-436/par-3 — https://japanlaw.org/ja/companies-act/art-436/par-3 · https://japanlaw.org/l/417AC0000000086/art-436/par-3 - art-449/par-2: 前項 → 会社法 第四百四十九条第一項 (Article 449, paragraph (1)), art-449/par-1 — https://japanlaw.org/ja/companies-act/art-449/par-1 · https://japanlaw.org/l/417AC0000000086/art-449/par-1 - art-449/par-2: 第三号 → 会社法 第四百四十九条第二項第三号 (Article 449, paragraph (2), item (iii)), art-449/par-2/item-3 — https://japanlaw.org/ja/companies-act/art-449/par-2/item-3 · https://japanlaw.org/l/417AC0000000086/art-449/par-2/item-3 - art-449/par-3: 前項 → 会社法 第四百四十九条第二項 (Article 449, paragraph (2)), art-449/par-2 — https://japanlaw.org/ja/companies-act/art-449/par-2 · https://japanlaw.org/l/417AC0000000086/art-449/par-2 - art-449/par-3: 第九百三十九条第一項 → 会社法 第九百三十九条第一項 (Article 939, paragraph (1)), art-939/par-1 — https://japanlaw.org/ja/companies-act/art-939/par-1 · https://japanlaw.org/l/417AC0000000086/art-939/par-1 - art-449/par-3: 同項第二号 → 会社法 第九百三十九条第一項第二号 (Article 939, paragraph (1), item (ii)), art-939/par-1/item-2 — https://japanlaw.org/ja/companies-act/art-939/par-1/item-2 · https://japanlaw.org/l/417AC0000000086/art-939/par-1/item-2 - art-449/par-3: 第三号 → 会社法 第九百三十九条第一項第三号 (Article 939, paragraph (1), item (iii)), art-939/par-1/item-3 — https://japanlaw.org/ja/companies-act/art-939/par-1/item-3 · https://japanlaw.org/l/417AC0000000086/art-939/par-1/item-3 - art-449/par-4: 第二項第三号 → 会社法 第四百四十九条第二項第三号 (Article 449, paragraph (2), item (iii)), art-449/par-2/item-3 — https://japanlaw.org/ja/companies-act/art-449/par-2/item-3 · https://japanlaw.org/l/417AC0000000086/art-449/par-2/item-3 - art-449/par-5: 第二項第三号 → 会社法 第四百四十九条第二項第三号 (Article 449, paragraph (2), item (iii)), art-449/par-2/item-3 — https://japanlaw.org/ja/companies-act/art-449/par-2/item-3 · https://japanlaw.org/l/417AC0000000086/art-449/par-2/item-3 - art-449/par-5: 金融機関の信託業務の兼営等に関する法律（昭和十八年法律第四十三号）第一条第一項 → e-Gov law 318AC0000000043, 第一条第一項 (Article 1, paragraph (1)), art-1/par-1 — not held in this collection - art-449/par-6: 第二項から前項まで → 会社法 第四百四十九条第二項 (Article 449, paragraph (2)), art-449/par-2 — https://japanlaw.org/ja/companies-act/art-449/par-2 · https://japanlaw.org/l/417AC0000000086/art-449/par-2 - art-449/par-6: 第二項から前項まで → 会社法 第四百四十九条第三項 (Article 449, paragraph (3)), art-449/par-3 — https://japanlaw.org/ja/companies-act/art-449/par-3 · https://japanlaw.org/l/417AC0000000086/art-449/par-3 - art-449/par-6: 第二項から前項まで → 会社法 第四百四十九条第四項 (Article 449, paragraph (4)), art-449/par-4 — https://japanlaw.org/ja/companies-act/art-449/par-4 · https://japanlaw.org/l/417AC0000000086/art-449/par-4 - art-449/par-6: 第二項から前項まで → 会社法 第四百四十九条第五項 (Article 449, paragraph (5)), art-449/par-5 — https://japanlaw.org/ja/companies-act/art-449/par-5 · https://japanlaw.org/l/417AC0000000086/art-449/par-5 - art-449/par-6/item-1: 第四百四十七条第一項第三号 → 会社法 第四百四十七条第一項第三号 (Article 447, paragraph (1), item (iii)), art-447/par-1/item-3 — https://japanlaw.org/ja/companies-act/art-447/par-1/item-3 · https://japanlaw.org/l/417AC0000000086/art-447/par-1/item-3 - art-449/par-6/item-2: 前条第一項第三号 → 会社法 第四百四十八条第一項第三号 (Article 448, paragraph (1), item (iii)), art-448/par-1/item-3 — https://japanlaw.org/ja/companies-act/art-448/par-1/item-3 · https://japanlaw.org/l/417AC0000000086/art-448/par-1/item-3 - art-449/par-7: 前項 → 会社法 第四百四十九条第六項 (Article 449, paragraph (6)), art-449/par-6 — https://japanlaw.org/ja/companies-act/art-449/par-6 · https://japanlaw.org/l/417AC0000000086/art-449/par-6 ## Cited by 13 provisions cite this one. No official source publishes this direction. - 会社法 第四百四十九条第一項（債権者の異議） — https://japanlaw.org/ja/companies-act/art-449/par-1 · https://japanlaw.org/l/417AC0000000086/art-449/par-1 - 会社法 第四百四十九条第一項第二号（債権者の異議） — https://japanlaw.org/ja/companies-act/art-449/par-1/item-2 · https://japanlaw.org/l/417AC0000000086/art-449/par-1/item-2 - 会社法 第四百四十九条第二項（債権者の異議） — https://japanlaw.org/ja/companies-act/art-449/par-2 · https://japanlaw.org/l/417AC0000000086/art-449/par-2 - 会社法 第四百四十九条第三項（債権者の異議） — https://japanlaw.org/ja/companies-act/art-449/par-3 · https://japanlaw.org/l/417AC0000000086/art-449/par-3 - 会社法 第四百四十九条第四項（債権者の異議） — https://japanlaw.org/ja/companies-act/art-449/par-4 · https://japanlaw.org/l/417AC0000000086/art-449/par-4 - 会社法 第四百四十九条第五項（債権者の異議） — https://japanlaw.org/ja/companies-act/art-449/par-5 · https://japanlaw.org/l/417AC0000000086/art-449/par-5 - 会社法 第四百四十九条第六項（債権者の異議） — https://japanlaw.org/ja/companies-act/art-449/par-6 · https://japanlaw.org/l/417AC0000000086/art-449/par-6 - 会社法 第四百四十九条第七項（債権者の異議） — https://japanlaw.org/ja/companies-act/art-449/par-7 · https://japanlaw.org/l/417AC0000000086/art-449/par-7 - 会社法 第四百五十九条第一項第二号（剰余金の配当等を取締役会が決定する旨の定款の定め） — https://japanlaw.org/ja/companies-act/art-459/par-1/item-2 · https://japanlaw.org/l/417AC0000000086/art-459/par-1/item-2 - 会社法 第四百五十九条第三項（剰余金の配当等を取締役会が決定する旨の定款の定め） — https://japanlaw.org/ja/companies-act/art-459/par-3 · https://japanlaw.org/l/417AC0000000086/art-459/par-3 - 会社法 第七百四十条第一項（債権者の異議手続の特則） — https://japanlaw.org/ja/companies-act/art-740/par-1 · https://japanlaw.org/l/417AC0000000086/art-740/par-1 - 会社法 第七百四十条第三項（債権者の異議手続の特則） — https://japanlaw.org/ja/companies-act/art-740/par-3 · https://japanlaw.org/l/417AC0000000086/art-740/par-3 - 会社法 第九百七十六条第一項第二十六号（過料に処すべき行為） — https://japanlaw.org/ja/companies-act/art-976/par-1/item-26 · https://japanlaw.org/l/417AC0000000086/art-976/par-1/item-26 --- ## 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