Article 35. Transfer of Rights to be Holders of Shares to be Issued at the Time of Incorporation.

(Compare Article 190 of the former Commercial Code)

The transfer of rights to be holders of shares to be issued at the time of incorporation by the payment or supply (hereinafter in this Chapter called “investment performance”) provided for Paragraph 1 of the previous Article (Article 34. (Investment Performance)), can not be used against the kabushiki kaisha after its 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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