# 金融商品取引法 / Financial Instruments and Exchange Act — 第二十七条の十七 (Article 27-17) - 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: 第二十七条の十七 (Article 27-17) — address `art-27-17` - 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-27-17 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/323AC0000000025/art-27-17 - 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. --- ### 第二十七条の十七 art-27-17 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-17 · https://japanlaw.org/l/323AC0000000025/art-27-17 **第一項** 第二十七条の五（第二十七条の八第十項において準用する場合を含む。以下この項において同じ。）の規定に違反して株券等の買付け等をした公開買付者等は、当該公開買付けに応じて株券等の売付け等をした者（第二十七条の五の規定に該当する株券等の売付け等を行つた者及び次条第二項第一号に規定する一部の者を除く。）に対し、損害賠償の責めに任ずる。 art-27-17/par-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-17/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-17/par-1 A tender offeror, etc. that violates the provisions of Article 27-5 (including as applied mutatis mutandis pursuant to Article 27-8, paragraph (10); hereinafter the same applies in this paragraph) in effecting a purchase, etc. of share certificates, etc. is liable to compensate for damage sustained by a person that sells, etc. its share certificates, etc. in response to the tender offer (excluding persons that sell, etc. share certificates, etc. to which Article 27-5 is applicable and the part of the persons that are prescribed in paragraph (2), item (i) of the following Article). Ministry of Justice translation — Japanese Law Translation Database System **第二項** 前項の規定により賠償の責めに任ずべき額は、同項の買付け等を行つた際に公開買付者等が支払つた価格（これに相当する利益の供与を含み、当該価格が均一でないときは、その最も有利な価格とする。）から公開買付価格（公開買付開始公告及び公開買付届出書に記載した買付け等の価格をいい、第二十七条の六第二項又は第三項の公告又は公表により買付け等の価格を変更したときは、当該変更後の買付け等の価格をいう。以下この節において同じ。）を控除した金額に前項の規定による請求権者の応募株券等（あん分比例方式により売付け等ができなかつたものを除く。次条第二項及び第二十七条の二十第二項において同じ。）の数を乗じた額とする。 art-27-17/par-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-17/par-2 · https://japanlaw.org/l/323AC0000000025/art-27-17/par-2 The amount of compensation for which the tender offeror, etc. is liable pursuant to the preceding paragraph is the price that the tender offeror, etc. pays at the time it effects a purchase, etc. referred to in the preceding paragraph (this includes providing a benefit equivalent to such a price, and if prices are not the same for all purchases, etc., the most favorable of them is used) less the tender offer price (meaning the purchase, etc. price stated in the public notice of the commencement of the tender offer and tender offer statement, or, if the tender offeror, etc. changes the purchase, etc. price pursuant to a public notice or public announcement under Article 27-6, paragraph (2) or (3), this means the purchase, etc. price after the change; hereinafter the same applies in this Section), multiplied by the number of tendered share certificates, etc. of a claimant under the preceding paragraph (excluding tendered share certificates, etc. that could not have been sold, etc. through the pro rata method; the same applies in paragraph (2) of the following Article and Article 27-20, paragraph (2)). Ministry of Justice translation — Japanese Law Translation Database System --- ## Cites - art-27-17/par-1: 第二十七条の五 → 金融商品取引法 第二十七条の五 (Article 27-5), art-27-5 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-5 · https://japanlaw.org/l/323AC0000000025/art-27-5 - art-27-17/par-1: 第二十七条の八第十項 → 金融商品取引法 第二十七条の八第十項 (Article 27-8, paragraph (10)), art-27-8/par-10 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-8/par-10 · https://japanlaw.org/l/323AC0000000025/art-27-8/par-10 - art-27-17/par-1: この項 → 金融商品取引法 第二十七条の十七第一項 (Article 27-17, paragraph (1)), art-27-17/par-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-17/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-17/par-1 - art-27-17/par-1: 次条第二項第一号 → 金融商品取引法 第二十七条の十八第二項第一号 (Article 27-18, paragraph (2), item (i)), art-27-18/par-2/item-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-18/par-2/item-1 · https://japanlaw.org/l/323AC0000000025/art-27-18/par-2/item-1 - art-27-17/par-2: 前項 → 金融商品取引法 第二十七条の十七第一項 (Article 27-17, paragraph (1)), art-27-17/par-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-17/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-17/par-1 - art-27-17/par-2: 第二十七条の六第二項 → 金融商品取引法 第二十七条の六第二項 (Article 27-6, paragraph (2)), art-27-6/par-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-6/par-2 · https://japanlaw.org/l/323AC0000000025/art-27-6/par-2 - art-27-17/par-2: 第三項 → 金融商品取引法 第二十七条の六第三項 (Article 27-6, paragraph (3)), art-27-6/par-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-6/par-3 · https://japanlaw.org/l/323AC0000000025/art-27-6/par-3 - art-27-17/par-2: 次条第二項 → 金融商品取引法 第二十七条の十八第二項 (Article 27-18, paragraph (2)), art-27-18/par-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-18/par-2 · https://japanlaw.org/l/323AC0000000025/art-27-18/par-2 - art-27-17/par-2: 第二十七条の二十第二項 → 金融商品取引法 第二十七条の二十第二項 (Article 27-20, paragraph (2)), art-27-20/par-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-20/par-2 · https://japanlaw.org/l/323AC0000000025/art-27-20/par-2 ## Cited by 6 provisions cite this one. No official source publishes this direction. - 金融商品取引法 第二十七条の十七第一項 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-17/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-17/par-1 - 金融商品取引法 第二十七条の十七第二項 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-17/par-2 · https://japanlaw.org/l/323AC0000000025/art-27-17/par-2 - 金融商品取引法 第二十七条の十八第二項第二号 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-18/par-2/item-2 · https://japanlaw.org/l/323AC0000000025/art-27-18/par-2/item-2 - 金融商品取引法 第二十七条の二十一第一項（公開買付けに係る違反行為による賠償請求権の時効） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-21/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-21/par-1 - 金融商品取引法 第二十七条の二十二の二第二項（発行者による上場株券等の公開買付け） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-22-2/par-2 · https://japanlaw.org/l/323AC0000000025/art-27-22-2/par-2 - 金融商品取引法 第二十七条の二十二の三第八項（業務等に関する重要事実の公表等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-22-3/par-8 · https://japanlaw.org/l/323AC0000000025/art-27-22-3/par-8 --- ## Sources - 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 — Ministry of Justice translation (https://www.japaneselawtranslation.go.jp/en/laws/view/4633/tb), retrieved 2026-10-22 - This site's parser, version 212 — 金融商品取引法 — structure, counts, cross-references and defined terms, computed 2026-10-22