Article 36. Loss of Rights to be Holders of Shares to be Issued at the Time of Incorporation.

1. In those situations where there are incorporators who have not executed the investment performance, the incorporators must set a date and give notice to the effect that the investment performance must be made by said date to the incorporator who has not executived the investment performance.

2. The notice of the previous paragraph must be made by two weeks prior to the date provided for in the same paragraph.

3. When the incorporator who has received the notice provided for in paragraph 1, has not executed the investment by the date of provided for in the same paragraph, he shall lose his rights to become a holder of shares to be issued at the time of incorporation based on the execution of the said investment.

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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