# 金融商品取引法 / Financial Instruments and Exchange Act — 第二十七条の六 (Article 27-6) - 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: 第二十七条の六 (Article 27-6)（公開買付けに係る買付条件等の変更） — address `art-27-6` - 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-27-6 - Permanent URL (e-Gov law ID, never renamed): https://japanlaw.org/l/323AC0000000025/art-27-6 - 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. --- ### 第二十七条の六（公開買付けに係る買付条件等の変更） — (Changes to the Terms of Purchase for a Tender Offer) caption: Ministry of Justice translation — Japanese Law Translation Database System art-27-6 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-6 · https://japanlaw.org/l/323AC0000000025/art-27-6 **第一項** 公開買付者は、次に掲げる買付条件等の変更を行うことができない。 art-27-6/par-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-6/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-6/par-1 A tender offeror may not make any of the following changes to the terms of purchase, etc.: Ministry of Justice translation — Japanese Law Translation Database System **一** 買付け等の価格の引下げ（公開買付開始公告及び公開買付届出書において公開買付期間中に対象者（第二十七条の十第一項に規定する対象者をいう。）が株式の分割その他の政令で定める行為を行つたときは内閣府令で定める基準に従い買付け等の価格の引下げを行うことがある旨の条件を付した場合に行うものを除く。） art-27-6/par-1/item-1 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-6/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-27-6/par-1/item-1 the lowering of the purchase, etc. price (excluding what is implemented if the public notice of the commencement of the tender offer and the tender offer statement states, as one of the terms of purchase, etc., that the purchase, etc. price may be lowered according to the standards specified by Cabinet Office Order if the target company (meaning a target company provided for in Article 27-10, paragraph (1)) conducts a share split or performs any other act specified by Cabinet Order during the tender offer period); Ministry of Justice translation — Japanese Law Translation Database System **二** 買付予定の株券等の数の減少 art-27-6/par-1/item-2 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-6/par-1/item-2 · https://japanlaw.org/l/323AC0000000025/art-27-6/par-1/item-2 reduction of the number of share certificates, etc. sought for purchase; Ministry of Justice translation — Japanese Law Translation Database System **三** 買付け等の期間の短縮 art-27-6/par-1/item-3 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-6/par-1/item-3 · https://japanlaw.org/l/323AC0000000025/art-27-6/par-1/item-3 shortening of the purchase, etc. period; or Ministry of Justice translation — Japanese Law Translation Database System **四** その他政令で定める買付条件等の変更 art-27-6/par-1/item-4 · https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-6/par-1/item-4 · https://japanlaw.org/l/323AC0000000025/art-27-6/par-1/item-4 any other changes in the terms of purchase, etc. specified by Cabinet Order. Ministry of Justice translation — Japanese Law Translation Database System **第二項** 公開買付者は、前項各号に規定するもの以外の買付条件等の変更を行うことができる。この場合において、当該変更を行おうとする公開買付者は、公開買付期間中に、政令で定めるところにより、買付条件等の変更の内容（第二十七条の十第三項の規定により買付け等の期間が延長された場合における当該買付け等の期間の延長を除く。）その他内閣府令で定める事項を公告しなければならない。 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 A tender offeror may make any change to the terms of purchase, etc. other than one that is specified in the items of the preceding paragraph. In this, a tender offeror seeking to make such a change must issue public notice of the details of the change to the terms of purchase, etc. (excluding an extension of the purchase, etc. period, if it is extended pursuant to Article 27-10, paragraph (3)) and other particulars specified by Cabinet Office Order during the tender offer period, pursuant to the provisions of Cabinet Order. Ministry of Justice translation — Japanese Law Translation Database System **第三項** 前項の規定による公告を公開買付期間の末日までに行うことが困難である場合には、公開買付者は、当該末日までに同項に規定する内容及び事項を内閣府令で定めるところにより公表し、その後直ちに同項の規定の例により公告を行わなければならない。 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 If it is difficult for a tender offeror to issue the public notice under the preceding paragraph by the last day of the tender offer period, the tender offeror must publicly announce the details and the particulars specified in the preceding paragraph pursuant to the provisions of Cabinet Office Order, and issue a public notice based on the rules provided for in the preceding paragraph immediately after that. Ministry of Justice translation — Japanese Law Translation Database System --- ## Cites - art-27-6/par-1/item-1: 第二十七条の十第一項 → 金融商品取引法 第二十七条の十第一項 (Article 27-10, paragraph (1)), art-27-10/par-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-10/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-10/par-1 - art-27-6/par-2: 前項 → 金融商品取引法 第二十七条の六第一項 (Article 27-6, paragraph (1)), art-27-6/par-1 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-6/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-6/par-1 - art-27-6/par-2: 第二十七条の十第三項 → 金融商品取引法 第二十七条の十第三項 (Article 27-10, paragraph (3)), art-27-10/par-3 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-10/par-3 · https://japanlaw.org/l/323AC0000000025/art-27-10/par-3 - art-27-6/par-3: 前項 → 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 ## Cited by 14 provisions cite this one. No official source publishes this direction. - 金融商品取引法 第二十七条の六第二項（公開買付けに係る買付条件等の変更） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-6/par-2 · https://japanlaw.org/l/323AC0000000025/art-27-6/par-2 - 金融商品取引法 第二十七条の六第三項（公開買付けに係る買付条件等の変更） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-6/par-3 · https://japanlaw.org/l/323AC0000000025/art-27-6/par-3 - 金融商品取引法 第二十七条の七第一項（公開買付開始公告の訂正） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-7/par-1 · https://japanlaw.org/l/323AC0000000025/art-27-7/par-1 - 金融商品取引法 第二十七条の八第三項第三号（公開買付届出書の訂正届出書の提出） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-8/par-3/item-3 · https://japanlaw.org/l/323AC0000000025/art-27-8/par-3/item-3 - 金融商品取引法 第二十七条の八第十一項（公開買付届出書の訂正届出書の提出） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-8/par-11 · https://japanlaw.org/l/323AC0000000025/art-27-8/par-11 - 金融商品取引法 第二十七条の十三第三項（公開買付けに係る応募株券等の数等の公告等及び公開買付報告書等の提出） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-13/par-3 · https://japanlaw.org/l/323AC0000000025/art-27-13/par-3 - 金融商品取引法 第二十七条の十三第四項（公開買付けに係る応募株券等の数等の公告等及び公開買付報告書等の提出） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-13/par-4 · https://japanlaw.org/l/323AC0000000025/art-27-13/par-4 - 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 第二十七条の二十第一項第一号（虚偽記載等のある公開買付開始公告を行つた者等の賠償責任） — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-27-20/par-1/item-1 · https://japanlaw.org/l/323AC0000000025/art-27-20/par-1/item-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二第七項（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-7 · https://japanlaw.org/l/323AC0000000025/art-27-22-2/par-7 - 金融商品取引法 第二十七条の二十二の二第十一項第一号（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-11/item-1 · https://japanlaw.org/l/323AC0000000025/art-27-22-2/par-11/item-1 - 金融商品取引法 第百九十七条第一項第二号 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-197/par-1/item-2 · https://japanlaw.org/l/323AC0000000025/art-197/par-1/item-2 - 金融商品取引法 第百九十七条の二第一項第九号 — https://japanlaw.org/ja/financial-instruments-and-exchange-act/art-197-2/par-1/item-9 · https://japanlaw.org/l/323AC0000000025/art-197-2/par-1/item-9 --- ## 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