Article 25. Incorporation

(Compare Article 169 of the former Commercial Code)

1. A kabushiki kaisha can be established based on either of the following methods:

(1) Based on that provided from the following Section to Section 8, the method of the incorporators subscribing to all of the shares issued at the time of incorporation (meaning the shares issued at the time of the incorporation of the kabushiki kaisha. Hereinafter the same).

(2) Based on that provided from the following section, Section 3, Article 39 and from Section 6 to Section 9, the method of soliciting subscribers to shares issued at the time of incorporation, in addition to the incorporators subscribing to shares issued at the time of the incorporation.

2. Each of the incorporators must subscribe to one or more of the shares issued at the time of incorporation.

Disclaimer: This translation is for general reference purposes only and is provided on an “as is” basis with no warranties made whatsoever. Attorney Roderick H. Seeman (licensed in the USA) shall not be responsible for any consequences resulting from the use of this translation. Reliance must be placed on the original Japanese text of the laws. In the text of the translation article headings are added in parenthesis are not in the Japanese language original and are added only for the purposes of enhanced comprehension.

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