# 金融商品取引法 / Financial Instruments and Exchange Act — 第百七十二条の十一 (Article 172-11)

- Law: 金融商品取引法 (Financial Instruments and Exchange Act), 昭和二十三年法律第二十五号
- English title "Financial Instruments and Exchange 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: 第百七十二条の十一 (Article 172-11)（虚偽のある発行者等情報の提供又は公表をした発行者に対する課徴金納付命令） — address `art-172-11`
- Text in force since: 2026-08-12
- URL (the page that opens at this provision): https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-11
- Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/323AC0000000025/art-172-11
- 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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### 第百七十二条の十一（虚偽のある発行者等情報の提供又は公表をした発行者に対する課徴金納付命令） — (Administrative Monetary Penalty Payment Order Issued to an Issuer That Provides or Discloses Information on the Issuer That Contains a Falsehood)
<sup>caption: Ministry of Justice translation — Japanese Law Translation Database System</sup>
<sup>art-172-11 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-11 · https://japanlaw.org/l/323AC0000000025/art-172-11</sup>

  **第一項**  発行者が、重要な事項につき虚偽の情報があり、又は提供し、若しくは公表すべき重要な事項に関する情報が欠けている発行者等情報（以下この項、次条第一項、第百七十八条第二十一項及び第百八十五条の七第十五項において「虚偽等のある発行者等情報」という。）を提供し、又は公表したときは、内閣総理大臣は、次節に定める手続に従い、当該発行者に対し、第一号に掲げる額（当該虚偽等のある発行者等情報が公表されていない場合にあつては、当該額に第二号に掲げる数を乗じて得た額）に相当する額の課徴金を国庫に納付することを命じなければならない。ただし、発行者の事業年度が一年である場合以外の場合においては、当該額に当該事業年度の月数を十二で除して得た数を乗じて得た額に相当する額の課徴金を国庫に納付することを命じなければならない。
  <sup>art-172-11/par-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-11/par-1 · https://japanlaw.org/l/323AC0000000025/art-172-11/par-1</sup>
  If an issuer provides or discloses information on the issuer, etc. that contains false information about a material particular or that lacks information about a material particular that is required to be provided or disclosed (hereinafter referred to as "information on the issuer, etc. that contains a falsehood, etc." in this paragraph, paragraph (1) of the following Article, Article 178, paragraph (21), and Article 185-7, paragraph (15)), the Prime Minister, in accordance with the procedures prescribed in the following Section, must order the issuer to pay an administrative monetary penalty to the national treasury in an amount that is equivalent to the amount set forth in item (i) (if the information on the issuer, etc. that contains a falsehood, etc. is not disclosed, meaning the amount arrived at when that amount is multiplied by the number set forth in item (ii)); provided, however, that if the issuer's business year is other than one year in length, the Prime Minister must order the issuer to pay an administrative monetary penalty to the national treasury in an amount that is equivalent to the amount arrived at when the number of months in its business year is divided by 12 and the quotient is multiplied by that amount:
  <sup>machine translation, not official</sup>

    **一**  イに掲げる額（ロに掲げる額がイに掲げる額を超えるときは、ロに掲げる額）
    <sup>art-172-11/par-1/item-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-11/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-172-11/par-1/item-1</sup>
    the amount specified in (a) (or, if the amount set forth in (b) exceeds that set forth in (a), the amount set forth in (b)):
    <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

      **イ**  六百万円
      <sup>art-172-11/par-1/item-1/sub-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-11/par-1/item-1/sub-1 · https://japanlaw.org/l/323AC0000000025/art-172-11/par-1/item-1/sub-1</sup>
      six million yen;
      <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

      **ロ**  （１）に掲げる額に（２）に掲げる数を乗じて得た額
      <sup>art-172-11/par-1/item-1/sub-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-11/par-1/item-1/sub-2 · https://japanlaw.org/l/323AC0000000025/art-172-11/par-1/item-1/sub-2</sup>
      the amount arrived at when the amount set forth in 1. is multiplied by the number set forth in 2.:
      <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

        **（１）**  当該発行者が発行する算定基準有価証券の内閣府令で定めるところにより算出される市場価額の総額（当該算定基準有価証券の市場価額がないとき又は当該発行者が算定基準有価証券を発行していないときは、これに相当するものとして政令で定めるところにより算出した額）
        <sup>art-172-11/par-1/item-1/sub-2/sub2-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-11/par-1/item-1/sub-2/sub2-1 · https://japanlaw.org/l/323AC0000000025/art-172-11/par-1/item-1/sub-2/sub2-1</sup>
        the total market value of index securities for calculation issued by the issuer, as calculated pursuant to the provisions of Cabinet Office Order (if the index securities for calculation have no market value or if the issuer has not issued any index securities for calculation, the amount calculated pursuant to the provisions of Cabinet Order as being equivalent to this); and
        <sup>machine translation, not official</sup>

        **（２）**  十万分の六
        <sup>art-172-11/par-1/item-1/sub-2/sub2-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-11/par-1/item-1/sub-2/sub2-2 · https://japanlaw.org/l/323AC0000000025/art-172-11/par-1/item-1/sub-2/sub2-2</sup>
        six hundred thousandths.
        <sup>machine translation, not official</sup>

    **二**  イに掲げる数をロに掲げる数で除して得た数
    <sup>art-172-11/par-1/item-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-11/par-1/item-2 · https://japanlaw.org/l/323AC0000000025/art-172-11/par-1/item-2</sup>
    the number arrived at when the number set forth in (a) is divided by the number set forth in (b):
    <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

      **イ**  当該虚偽等のある発行者等情報の提供を受けた者の数
      <sup>art-172-11/par-1/item-2/sub-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-11/par-1/item-2/sub-1 · https://japanlaw.org/l/323AC0000000025/art-172-11/par-1/item-2/sub-1</sup>
      the number of persons provided with the information on the issuer, etc. that contains a falsehood, etc.;
      <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

      **ロ**  第二十七条の三十二第一項から第三項までの規定により発行者等情報を提供する場合において提供を受けるべき相手方の数
      <sup>art-172-11/par-1/item-2/sub-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-11/par-1/item-2/sub-2 · https://japanlaw.org/l/323AC0000000025/art-172-11/par-1/item-2/sub-2</sup>
      the number of persons to which the information on the issuer, etc. are to be provided, in a case when the information is required to be provided pursuant to the provisions of Article 27-32, paragraphs (1) through (3).
      <sup>Ministry of Justice translation with a slip corrected by this site — not the Ministry's text; the Ministry printed: "the number of persons to which the information on the issuer, etc. are to be provided, in a case when the informationis is required to be provided pursuant to the provisions of Article 27-32, paragraphs (1) through (3)." — https://www.japaneselawtranslation.go.jp/en/laws/view/4633/tb</sup>

  **第二項**  前項ただし書の月数は、暦に従つて計算し、一月に満たない端数を生じたときは、これを一月とする。
  <sup>art-172-11/par-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-11/par-2 · https://japanlaw.org/l/323AC0000000025/art-172-11/par-2</sup>
  The number of months referred to in the proviso to the preceding paragraph is calculated in accordance with the calendar, and if a period of less than one month is subject to the calculation, this is counted as one month.
  <sup>Ministry of Justice translation — Japanese Law Translation Database System</sup>

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## Cites
- art-172-11/par-1: この項 → 金融商品取引法 第百七十二条の十一第一項 (Article 172-11, paragraph (1)), art-172-11/par-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-11/par-1 · https://japanlaw.org/l/323AC0000000025/art-172-11/par-1
- art-172-11/par-1: 次条第一項 → 金融商品取引法 第百七十二条の十二第一項 (Article 172-12, paragraph (1)), art-172-12/par-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-12/par-1 · https://japanlaw.org/l/323AC0000000025/art-172-12/par-1
- art-172-11/par-1: 第百七十八条第二十一項 → 金融商品取引法 第百七十八条第二十一項 (Article 178, paragraph (21)), art-178/par-21 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-178/par-21 · https://japanlaw.org/l/323AC0000000025/art-178/par-21
- art-172-11/par-1: 第百八十五条の七第十五項 → 金融商品取引法 第百八十五条の七第十五項 (Article 185-7, paragraph (15)), art-185-7/par-15 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-185-7/par-15 · https://japanlaw.org/l/323AC0000000025/art-185-7/par-15
- art-172-11/par-1: 第一号 → 金融商品取引法 第百七十二条の十一第一項第一号 (Article 172-11, paragraph (1), item (i)), art-172-11/par-1/item-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-11/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-172-11/par-1/item-1
- art-172-11/par-1: 第二号 → 金融商品取引法 第百七十二条の十一第一項第二号 (Article 172-11, paragraph (1), item (ii)), art-172-11/par-1/item-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-11/par-1/item-2 · https://japanlaw.org/l/323AC0000000025/art-172-11/par-1/item-2
- art-172-11/par-1/item-2/sub-2: 第二十七条の三十二第一項から第三項まで → 金融商品取引法 第二十七条の三十二第一項 (Article 27-32, paragraph (1)), art-27-32/par-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-32/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-32/par-1
- art-172-11/par-1/item-2/sub-2: 第二十七条の三十二第一項から第三項まで → 金融商品取引法 第二十七条の三十二第二項 (Article 27-32, paragraph (2)), art-27-32/par-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-32/par-2 · https://japanlaw.org/l/323AC0000000025/art-27-32/par-2
- art-172-11/par-1/item-2/sub-2: 第二十七条の三十二第一項から第三項まで → 金融商品取引法 第二十七条の三十二第三項 (Article 27-32, paragraph (3)), art-27-32/par-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-32/par-3 · https://japanlaw.org/l/323AC0000000025/art-27-32/par-3
- art-172-11/par-2: 前項 → 金融商品取引法 第百七十二条の十一第一項 (Article 172-11, paragraph (1)), art-172-11/par-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-11/par-1 · https://japanlaw.org/l/323AC0000000025/art-172-11/par-1

## Cited by

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

- 金融商品取引法 第二十七条の三十二第一項（発行者情報の提供又は公表） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-32/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-32/par-1
- 金融商品取引法 第百七十二条の四第一項第二号イ（虚偽記載のある有価証券報告書等を提出した発行者等に対する課徴金納付命令） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-4/par-1/item-2/sub-1 · https://japanlaw.org/l/323AC0000000025/art-172-4/par-1/item-2/sub-1
- 金融商品取引法 第百七十二条の十一第一項（虚偽のある発行者等情報の提供又は公表をした発行者に対する課徴金納付命令） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-11/par-1 · https://japanlaw.org/l/323AC0000000025/art-172-11/par-1
- 金融商品取引法 第百七十二条の十一第二項（虚偽のある発行者等情報の提供又は公表をした発行者に対する課徴金納付命令） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-172-11/par-2 · https://japanlaw.org/l/323AC0000000025/art-172-11/par-2
- 金融商品取引法 第百七十六条第一項（課徴金の額の端数計算等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-176/par-1 · https://japanlaw.org/l/323AC0000000025/art-176/par-1
- 金融商品取引法 第百七十六条第二項（課徴金の額の端数計算等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-176/par-2 · https://japanlaw.org/l/323AC0000000025/art-176/par-2
- 金融商品取引法 第百七十六条第三項（課徴金の額の端数計算等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-176/par-3 · https://japanlaw.org/l/323AC0000000025/art-176/par-3
- 金融商品取引法 第百七十六条第四項（課徴金の額の端数計算等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-176/par-4 · https://japanlaw.org/l/323AC0000000025/art-176/par-4
- 金融商品取引法 第百七十八条第一項第十一号（審判手続開始の決定） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-178/par-1/item-11 · https://japanlaw.org/l/323AC0000000025/art-178/par-1/item-11
- 金融商品取引法 第百八十五条の七第一項（課徴金の納付命令の決定等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-185-7/par-1 · https://japanlaw.org/l/323AC0000000025/art-185-7/par-1
- 金融商品取引法 第百八十五条の七第十項（課徴金の納付命令の決定等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-185-7/par-10 · https://japanlaw.org/l/323AC0000000025/art-185-7/par-10
- 金融商品取引法 第百八十五条の七第十一項（課徴金の納付命令の決定等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-185-7/par-11 · https://japanlaw.org/l/323AC0000000025/art-185-7/par-11
- 金融商品取引法 第百八十五条の七第十一項第二号（課徴金の納付命令の決定等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-185-7/par-11/item-2 · https://japanlaw.org/l/323AC0000000025/art-185-7/par-11/item-2
- 金融商品取引法 第百八十五条の七第十四項（課徴金の納付命令の決定等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-185-7/par-14 · https://japanlaw.org/l/323AC0000000025/art-185-7/par-14
- 金融商品取引法 第百八十五条の七第十五項（課徴金の納付命令の決定等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-185-7/par-15 · https://japanlaw.org/l/323AC0000000025/art-185-7/par-15
- 金融商品取引法 第百八十五条の七第十六項（課徴金の納付命令の決定等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-185-7/par-16 · https://japanlaw.org/l/323AC0000000025/art-185-7/par-16
- 金融商品取引法 第百八十五条の七第十六項第一号（課徴金の納付命令の決定等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-185-7/par-16/item-1 · https://japanlaw.org/l/323AC0000000025/art-185-7/par-16/item-1

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## Sources

- claude-opus-5-5 — Corrections to the Ministry of Justice's English of paragraphs, written 2026-10-23
- e-Gov 法令検索, Digital Agency (デジタル庁) — 金融商品取引法 — the text in force from 2026-08-12 (https://laws.e-gov.go.jp/law/323AC0000000025/20260812_508AC0000000064), retrieved 2026-10-22
- Japanese Law Translation Database System, Ministry of Justice (法務省) — Financial Instruments and Exchange Act (金融商品取引法), Article 172-11, paragraph (1), item (ii), (b) — the Ministry of Justice's English as printed (https://www.japaneselawtranslation.go.jp/en/laws/view/4633/tb), retrieved 2026-10-22
- Japanese Law Translation Database System, Ministry of Justice (法務省) — Financial Instruments and Exchange Act — Ministry of Justice translation (https://www.japaneselawtranslation.go.jp/en/laws/view/4633/tb), retrieved 2026-10-22
- claude-sonnet-5-5 — Machine translation, batch financial-instruments-and-exchange-act-20261023T035921-013, translated 2026-10-23
- This site's parser, version 212 — 金融商品取引法 — structure, counts, cross-references and defined terms, computed 2026-10-22