Article 1. The purpose of this Law is, through obtaining by transfer to the Japanese National Railways such facilities as loading and unloading machinery, etc. owned by express carriers on the lands owned by the former, to contribute to the fair and effective utilization of these facilities and to secure the fair competition in express business.

Article 2. The Japanese National Railways shall take title, by way exchange as provided for in Article 4 paragraph 2 and within the amount provided therefor in its capital budget to such facilities enumerated below which are actually on its lands and owned by the Nippon Express Company at the time of the enforcement of this Law, as are necessary to assure availability and to offer common convenience to all shippers or express carriers from the points of operation of business of the Japanese National Railways: (1) Loading and unloading machinery; (2) Motive cars to be used for shunting freightcars; (3) Warehouses, roof-sheds, workers'poolst freight handling offices, and other buildings for working; (4) Structures to be used for loading unloading, and storing of goods.

Article 3. The facilities which the Japanese National Railways shall take title to in accordance with the provisions of the preceding Article shall be designated by the Japanese National Railways. 2 The price of the facilities which the Japanese National Railways shall designate in accordance with the provision of the preceding paragraph, the price of stocks which the Japanese National Railways shall, according to the provisions of Article 4, deliver title to the Nippon Express Company, and other matters concerning the taking title to the facilities and the stocks shall be determined upon by consultation of the Japanese National Railways, the Nippon Express Company, and a third party appointed by the Minister of Transportation from among candidates jointly agreed upon by both of the parties. In this case, such prices agreed upon are to be subject to the approval of the Minister of Transportation. 3 The Minister of Transportation shall when the consultation referred to in the preceding paragraph is not agreed upon, or when he deems that agreement cannot be reached, decide the matter as arbitrator. 4 In the event that the arbitration referred to in the preceding paragraph has been made, it shall be so regarded that the consultation referred to in the former part of paragraph 2 has been agreed upon as decided by the arbitration, and has also been approved as provided for in the latter part of the same paragraph. 5 The Minister of Transportation in making the appointment as referred to in the former part of paragraph 2 or giving the approval referred to in the latter part of paragraph 2, or in deciding as arbitrator as referred to in paragraph 3, shall obtain the agreement of the Minister of Finance.

Article 4. The Japanese National Railways shall dispose of all the stocks of the Nippon Express Company which are actually owned by it at the time of the enforcement of this Law. 2 The Japanese National Railways and the Nippon Express Company shall within the limits of balanced amount, exchange the stock mentioned in the preceding paragraph and the facilities as enumerated in Article 2 in accordance with the provisions of the preceding Article. 3 In the case of the preceding paragraph, if the price of the facilities exceeds the price of the stock, the Japanese National Railways shall pay the difference in cash. 4 If the price of the stock in paragraph 1 exceeds the price of the facilities in Article 2, the Japanese National Railways shall otherwise dispose of the excess stock without delay. 5 As regards the disposal of the stock under the provisions of paragraph 2, the Law concerning the Adjustment and Coordination, etc. of Disposal of Securities (Law No.8 of 1947) shall not apply. 6 As regards the disposal of the stocks under the provisions of paragraph 4, the Law concerning the Adjustment and Coordination, etc. of Disposal of Securities shall apply.

Article 5. The Japanese National Railways shall, within its budgetary appropriation, purchase or lease the facilities corresponding to those enumerated in Article 2 which are actually on its lands and owned by other express carriers than the Nippon Express Company at the time of the enforcement of this Law. 2 The express carriers mentioned in the preceding paragraph shall convey or lease the facilities mentioned in the preceding paragraph to the Japanese National Railways. 3 The provisions of Article 3 shall apply mutatis mutandis in the preceding two paragraphs.

Article 6. Facilities to be purchased or leased, the transfer prices or rentals thereof, or other matters relating to the purchase or lease in the case where the Nippon Express Company conveys or leases, upon the request of local railway carriers or tramway operators, the facilities in its possession which are actually on their lands a the time of the enforcement of this Law, shall be decided upon by consultation between the Nippon Express Company and the local railway carriers or tramway operators concerned. 2 The provisions of Article 3 paragraphs 3 and 4 shall apply mutatis mutandis in the case of the preceding paragraph.