Article 47. Appointment, etc. of Establishment Representative Directors.

1. Establishment directors must, in the situation where the kabushiki kaisha to be established is to be a corporation with a board of directors, (excluding corporations with committees), from among the establishment directors appoint a person who will become the representative director (meaning a director who will represent the kabushiki kaisha. Hereinafter the same.) (hereinafter to be called “establishment representative director”) at the time of the establishment of the kabushiki kaisha,

2. The establishment directors may, during the period up to the establishment of the kabushiki kaisha, dismiss the establishment representative director.

3. The appointment and dismissal of establishment representative directors, based on the provisions of the previous two paragraphs, shall be determined based on the majority vote of the establishment directors.

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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