Article 64. Certification of Institutions Handling Subscription Payments

(Compare Article 177 & 189 of the former Commercial Code)

1. In the situation where there has been the solicitation of Article 57. (Solicitation of Subscribers of Shares to Be Issued at the Time of Incorporation), Paragraph 1, the incorporators can demand from the banks, etc. which handled the payments based on the provisions of Article 34. (Investment Performance), Paragraph 1 and the previous Article (Article 63. (Paying In the Amount of Subscription Monies for Shares to be Subscribed to at the Time of Incorporation)), Paragraph 1, the delivery of certifications concerning their custody of monies corresponding to the amount of monies paid-in based on these provisions.

2. Banks, etc. delivering the certifications of the previous paragraph may not, after incorporation, use against the kabushiki kaisha that the entries in said certifications are different from fact, or that there are restrictions concerning the repayment of monies paid in based on the provisions of Article 34. (Investment Performance), Paragraph 1 or the previous Article (Article 63. (Paying In the Amount of Subscription Monies for Shares to be Subscribed to at the Time of Incorporation)), Paragraph 1.

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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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