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Foreign Exchange and Foreign Trade Act (Japan)

 

[English Translation of the Content and Articles 26, 55-5]

 

Chapter One                     General Provisions

Chapter Two                     [Repealed]

Chapter Three                  Payment and Related Matters

Chapter Four                    Capital Transaction and Related Matters

Chapter Five                     Direct Inward Investment and Related Matters

 

                            Article 26

(1)   A gforeign investorh means an entity conducting the direct inward investments and related matters mentioned in each subparagraph of the next paragraph which is:

1.      A non-resident individual,

2.      A juridical person or other entity formed under a foreign legislation or a juridical person or other entity having a principal office in a foreign country,

3.      A company of which a half or more of the voting rights (excluding the voting rights regarding such types of stocks or shares as provided for in Paragraph 4, Article 211-2 of the Commercial Code and including the voting rights regarding the stocks or shares deemed to have a voting right under the provisions of Paragraph 5 of the same article; hereinafter in this subparagraph and Subparagraph 4 of the next paragraph the expression shall be construed in the same way) held by the total number of its shareholders or members are directly held by such entities as mentioned in Subparagraph 1 and/or the previous paragraph and/or deemed under the Government Decree to be indirectly held by them through other companies, or

4.      In addition to those mentioned in the two previous paragraphs, a juridical person or other entity in which the majority of the officers (which means directors and/or equivalents; in this subparagraph hereinafter the expression shall be construed in the same way) or of the officers representing the company are such individuals as mentioned in Subparagraph 1.

(2)   gDirect inward investment means any of the following acts:

1.      To acquire stocks or shares of the company (except for those transferred by any entities mentioned in each subparagraph of the previous paragraph and those of the companies of which stocks are listed in the securities exchanges provided for in Paragraph 14, Article 2 of Securities Act or the companies issuing such stocks as deemed to be equivalent to such listed stocks under the Government Decree (in the next subparagraph and Paragraph 3, referred to as glisted company and the likeh)).

2.      To transfer any stocks or shares which have been held since the time before the entity became non-resident and are those of any company other than the listed companies and the like (only if such transfer is carried out to any entities mentioned in each subparagraph of the previous paragraph by a non-resident individual)

3.-7. [Not Translated]

 

Chapter Six                       Foreign Trade

Chapter Six-2                   Report and Related Matters

 

                            Article 55-5

(1)   A foreign investor shall, if having conducted any direct inward investments or the like (except for those provided for in the Government Decree in the light of inheritance, bequest, corporate consolidation and/or other situation; in this article, hereinafter the expression shall be construed in the same way), make a report to the Minister of Finance and the minister having control of the business on the particulars, the time of that any direct inward investments or the like and any other matters prescribed in the Government Decree, except in the case of the direct inward investments or the like to be notified under the provisions of Paragraph 1, Article 27.

(2)   If any person (including juridical persons or any other entity) other than foreign investors conducts any similar activities to direct inward investments or the like in behalf of a foreign investor but not under the name of that foreign investor, that person other than foreign investors shall be considered as a foreign investor and the provisions of the previous paragraph shall apply.

 

Chapter Six-3                   [Repealed]

Chapter Seven                  Relations with the Administrative Procedures Act

Chapter Seven-2               Complaint

Chapter Eight                   Miscellaneous

Chapter Nine                    Penalties

 

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