# 金融商品取引法 / Financial Instruments and Exchange Act — 第二十七条の四 (Article 27-4) - 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: 第二十七条の四 (Article 27-4)（有価証券をもつて対価とする買付け等） — address `art-27-4` - 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-27-4 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/323AC0000000025/art-27-4 - 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. --- ### 第二十七条の四（有価証券をもつて対価とする買付け等） — (Purchases in Which Securities Are Delivered as the Consideration) caption: Ministry of Justice translation — Japanese Law Translation Database System art-27-4 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-4 · https://japanlaw.org/l/323AC0000000025/art-27-4 **第一項** 公開買付者等は、次項に規定する場合を除き、その公開買付けにつき有価証券をもつてその買付け等の対価とする場合において、当該有価証券がその募集又は売出しにつき第四条第一項本文、第二項本文又は第三項本文の規定の適用を受けるものであるときは、公開買付届出書又は訂正届出書の提出と同時に当該有価証券の発行者が内閣総理大臣にこれらの規定による届出を行つていなければ、売付け等の申込みの勧誘その他の当該公開買付けに係る内閣府令で定める行為をしてはならない。 art-27-4/par-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-4/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-4/par-1 Except in a case provided for in the following paragraph, if a tender offeror, etc. makes securities the consideration for its purchases, etc. in a tender offer, and a public offering or secondary distribution of the relevant securities is subject to the main clause of Article 4, paragraph (1), the main clause of Article 4, paragraph (2), or the main clause of Article 4, paragraph (3), the tender offeror, etc. must not solicit offers to sell, etc. or perform other acts specified by Cabinet Office Order in connection with the tender offer unless the issuer of the securities provides the Prime Minister with the notification under those provisions at the same time as the submission of the tender offer statement or an amended statement. Ministry of Justice translation — Japanese Law Translation Database System **第二項** 前項の場合において、同項の有価証券が発行登録をされた有価証券であるときは、公開買付者等は、当該発行登録が効力を生じており、かつ、公開買付届出書又は訂正届出書の提出と同時に当該有価証券の発行登録者が発行登録追補書類を内閣総理大臣に提出していなければ、売付け等の申込みの勧誘その他の当該公開買付けに係る内閣府令で定める行為をしてはならない。 art-27-4/par-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-4/par-2 · https://japanlaw.org/l/323AC0000000025/art-27-4/par-2 In a case referred to in the preceding paragraph, if a shelf registration has been made for the securities referred to in that paragraph, the tender offeror, etc. must not solicit offers to sell, etc. or perform other acts specified by Cabinet Office Order in connection with the tender offer unless the shelf registration has come into effect and the shelf registrant of the Securities submits shelf registration supplements to the Prime Minister at the same time as the submission of the tender offer statement or an amended statement. Ministry of Justice translation — Japanese Law Translation Database System **第三項** 有価証券をもつて買付け等の対価とする公開買付けであつて、当該有価証券の募集又は売出しにつき第四条第一項から第三項までの規定による届出が行われたもの又は発行登録追補書類が提出されたものに係る公開買付届出書の提出については、前条第二項の規定にかかわらず、公開買付届出書に記載すべき事項及び添付書類のうち内閣府令で定めるものの記載及び添付を省略することができる。 art-27-4/par-3 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-4/par-3 · https://japanlaw.org/l/323AC0000000025/art-27-4/par-3 Notwithstanding the provisions of paragraph (2) of the preceding Article, in a tender offer that has securities as the consideration for purchase, etc., if the notification under Article 4, paragraphs (1) through (3) has been made or the shelf registration supplements have been submitted for the securities, part of the particulars that are required to be included in a tender offer statement and some of its accompanying documents may be omitted from the tender offer statement to be submitted for the relevant tender offer if that part of the particulars and those accompany documents are specified by Cabinet Office Order. Ministry of Justice translation — Japanese Law Translation Database System --- ## Cites - art-27-4/par-1: 次項 → 金融商品取引法 第二十七条の四第二項 (Article 27-4, paragraph (2)), art-27-4/par-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-4/par-2 · https://japanlaw.org/l/323AC0000000025/art-27-4/par-2 - art-27-4/par-1: 第四条第一項 → 金融商品取引法 第四条第一項 (Article 4, paragraph (1)), art-4/par-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-4/par-1 · https://japanlaw.org/l/323AC0000000025/art-4/par-1 - art-27-4/par-1: 第二項 → 金融商品取引法 第四条第二項 (Article 4, paragraph (2)), art-4/par-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-4/par-2 · https://japanlaw.org/l/323AC0000000025/art-4/par-2 - art-27-4/par-1: 第三項 → 金融商品取引法 第四条第三項 (Article 4, paragraph (3)), art-4/par-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-4/par-3 · https://japanlaw.org/l/323AC0000000025/art-4/par-3 - art-27-4/par-2: 前項 → 金融商品取引法 第二十七条の四第一項 (Article 27-4, paragraph (1)), art-27-4/par-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-4/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-4/par-1 - art-27-4/par-3: 第四条第一項から第三項まで → 金融商品取引法 第四条第一項 (Article 4, paragraph (1)), art-4/par-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-4/par-1 · https://japanlaw.org/l/323AC0000000025/art-4/par-1 - art-27-4/par-3: 第四条第一項から第三項まで → 金融商品取引法 第四条第二項 (Article 4, paragraph (2)), art-4/par-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-4/par-2 · https://japanlaw.org/l/323AC0000000025/art-4/par-2 - art-27-4/par-3: 第四条第一項から第三項まで → 金融商品取引法 第四条第三項 (Article 4, paragraph (3)), art-4/par-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-4/par-3 · https://japanlaw.org/l/323AC0000000025/art-4/par-3 - art-27-4/par-3: 前条第二項 → 金融商品取引法 第二十七条の三第二項 (Article 27-3, paragraph (2)), art-27-3/par-2 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-3/par-2 · https://japanlaw.org/l/323AC0000000025/art-27-3/par-2 ## Cited by 3 provisions cite this one. No official source publishes this direction. - 金融商品取引法 第二十七条の四第一項（有価証券をもつて対価とする買付け等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-4/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-4/par-1 - 金融商品取引法 第二十七条の四第二項（有価証券をもつて対価とする買付け等） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-4/par-2 · https://japanlaw.org/l/323AC0000000025/art-27-4/par-2 - 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 --- ## 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