I hereby promulgate the Law for Partial Amendments to the Law relating to "YugenKaisha" . Signed:HIROHITO, Seal of the Emperor This eighth day of the sixth month of the twenty-sixth year of Showa (June 8, 1951) Prime Minister YOSHIDA Shigeru Law No.214 Law for Partial Amendments to the Law relating to "Yugen-Kaisha" The Law relating to "Yugen-Kaisha" (Law No.74 of 1938) shall be partially amended as follows: In Article 4, "and 57 to 61" shall be amended as "57 to 59 inclusive and 61" . Article 7 item (1) shall be amended as follows: (1) Deleted. In Article 8 paragraph 2, "succession to property" shall be amended as "succession" . In Article 9, "ten thousand yen" shall be amended as "one hundred thousand yen" . In Article 10, "one hundred yen" shall be amended as "one thousand yen" . In Article 13 paragraph 2 item (6), "or one or more directors together with one or more managers" shall be deleted. In Article 15, ", the auditors" shall be deleted. Article 16 shall be amended as follows:

Article 16. The members shall not be released from their liabilities prescribed in the preceding two Articles. The directors shall not be released from their liabilities prescribed in the preceding Article except by the unanimous consent of all the members.

Article 19 shall be amended as follows:

Article 19. Any member may transfer his share wholly or in part to another member. If any member intends to transfer his share wholly or in part to any person who is not a member, he shall in writing notify the company of the other party of transfer, the number of units of contribution intended to be transferred and the transfer price thereof. If the notice mentioned in the preceding paragraph has been given, a general meeting of members may designate any other person as the other party of transfer in accordance with a resolution as provided for in Article 48. In cases where a general meeting of members has not made a designation mentioned in the preceding paragraph within two weeks after the day on which the notice mentioned in paragraph 2 was given and where any person who has been designated in accordance with the provisions of the preceding paragraph has not made in writing an offer of taking over his share to the member mentioned in paragraph 2 within a week after the day of the resolution for such designation, the member mentioned in the same paragraph may transfer his share to the other party of transfer who has been referred to in such notice. However, the price of such share shall not be less than the transfer price which has been referred to in the notice mentioned in the paragraph 2. If there are two or more persons who have made an offer mentioned in the preceding paragraph within the period for an offer mentioned in the same paragraph, the member mentioned in paragraph 2 shall select one of them within five days after the day of the expiration of the period for such offer and shall notify each person who has made such offer. In such case, the person who has been selected shall become a transferee on the day on which the notice was given. Except in the case mentioned in the preceding paragraph, the person who has made an offer mentioned in paragraph 4 within the period for an offer mentioned in the same paragraph shall become a transferee on the day of the expiration of such period. In the cases of the preceding two paragraphs, unless a different agreement has been made, the price which has been referred to in the notice mentioned in paragraph 2 shall be the transfer price and the transfer of share shall become effective upon the payment of the price. If, on account of a transfer, the total number of members has come to exceed the limitation prescribed in Article 8 paragraph 1, such transfer shall, except in the case of bequest, be null and void. The same shall apply to the transfer of the share which has been transferred to a person who is not a member in violation of the provisions of paragraph 2 or the proviso to paragraph 4 or irrespective of an offer mentioned in the same paragraph.

In Article 23 paragraph 2, "paragraph 1" shall be deleted. The following one Article shall be added next to Article 25:

Article 25-(2). It may be provided for by the Articles of Incorporation that the election of two or more directors shall be made in accordance with the cumulative voting. The provisions of Article 256-(3) of the Commercial Code shall apply with the necessary modifications to the case mentioned in the preceding paragraph.

The following two paragraphs shall be added to Article 27: If there are two or more directors, each of the directors shall represent the company. Notwithstanding the provisions of the preceding paragraph, it may be determined by the Articles of Incorporation or by a resolution of a general meeting of members that a particular director shall represent the company, that two or more directors shall jointly represent the company, or that one or more directors who shall represent the company may be elected by co-optation from among the directors according to the provisions of the Articles of Incorporation. The following one Article shall be added next to Article 27:

Article 27-(2). In cases where the company brings an action against the director, or the director against the company, the particular person who has been designated by a general meeting of members shall represent the company in respect of such action.

Articles 29 and 30 shall be amended as follows:

Article 29. A director who intends to effect such a transaction as comes under the class of business carried on by the company on his own behalf or for a third person shall show all the material facts in connection with the said transaction at a general meeting of members and obtain its approval. The approval mentioned in the preceding paragraph shall be made by a resolution provided for in Article 48. If a director in contravention of the provisions of paragraph 1 has effected a transaction on his own behalf, a general meeting of members may treat such transaction as effected on behalf of the company. The right mentioned in the preceding paragraph shall lapse where one year has elapsed from the time of the transaction.

Article 30. The provisions of paragraphs 1 and 2 of the preceding Article shall apply with the necessary modifications in cases where a director intends to acquire the company's products or other properties by transfer or to transfer his own products or other properties to the company or to receive loans from the company or to effect any transaction with the company on his own behalf or on that of a third person. In the case provided for in the preceding paragraph, the provisions of Article 108 of the Civil Code shall not apply.

The following two Articles shall be added next to Article 30:

Article 30-(2). In the following cases, directors who have done any of acts of the following cases shall be jointly and severally liable in effecting performance or in damages to the company, in the case of item (1), for the amount which has been distributed illegally, or in the cases of items (2) and (3), for the amount of any damage caused to the company: (1) where the proposal for the distribution of profits in contravention of the provisions of Article 290 paragraph 1 of the Commercial Code which is applicable with the necessary modifications under Article 46 paragraph 1 of this Law has been submitted to a general meeting; (2) Where any transaction in contravention of Article 29 paragraph 1 or paragraph 1 of the preceding Article has been effected; (3) Where any act which violates any law or ordinance or the Articles of Incorporation has been done. The directors who have consented to doing any act mentioned in the preceding paragraph shall be deemed to have done such act. The directors shall not be released from their liabilities mentioned in paragraph 1 except by the unanimous consent of all the members.

Article 30-(3). If directors have been guilty of wrongful intent or of gross negligence in respect to the assumption of their duties, they shall be jointly and severally liable in damages to third persons also. The same shall also apply in cases where a false statement has been made in respect to any material particulars of any documents prescribed in Article 43 paragraph 1 or of any detailed statement mentioned in Article 293-(5) of the Commercial Code which is applicable with the necessary modifications under Article 46 paragraph 1 of this Law, or where a false book entry or public notice has been made. The provisions of paragraph 2 of the preceding Article shall apply with the necessary modifications to the case mentioned in the preceding paragraph.

Article 31 shall be amended as follows:

Article 31. Any member may demand, in writing, of the company for bringing an action to enforce the liability of directors. The provisions of Article 267 paragraphs 2 to 5 inclusive and Articles 268 to 268-(3) inclusive of the Commercial Code shall apply with the necessary modifications to the action to enforce the liability of the directors.

The following two Articles shall be added next to Article 31:

Article 31-(2). In case a director dose an act which is not within the scope of the objects of the company, or any act against any law or ordinance or the Articles of Incorporation, and thereby there is any fear of doing irreparable damage to the company, the member may demand of the director for the stoppage of such act on behalf of the company.

Article 31-(3). If the general meeting of members has rejected the removal of a director, notwithstanding that there has been dishonest acts or any grave fact constituting the contravention of any law or ordinance or of the Articles of Incorporation in connection with the performance of his duties, any member holding the number of units of contribution representing not less than one-tenth of the capital may institute an action for his removal in the Court within thirty days. The provisions of Articles 88 of the Commercial Code shall apply with the necessary modifications to the case mentioned in the preceding paragraph.

Article 32 shall be amended as follows:

Article 32. The provisions of Article 39 paragraph 2, Article 78, Article 254 paragraphs 1 and 3, Article 254-(2), Article 257 paragraph 1, Articles 258,262,266-(2) and 269 to 271 inclusive of the Commercial Code shall apply with the necessary modifications to the directors.

Article 34 shall be amended as follows:

Article 34. The provisions of Article 30-(2) paragraph 3, Articles 30-(3), 31 and 31-(3) of this Law and of Article 254 paragraphs 1 and 3, Article 257 paragraph 1, Articles 258,269,270 and 274 to 278 inclusive of the Commercial Code shall apply with the necessary modifications to the auditors.

The following one Article shall be added next to Article 36:

Article 36-(2). In order that the directors may convene a general meeting, a majority decision of the directors therefore shall be required.

Article 37 paragraph 2 shall be amended as follows: The Articles of Incorporation may otherwise provide in regard to the provisions of the preceding paragraph. The following one paragraph shall be added to Article 37: The provisions of Article 237 paragraphs 2 and 3 of the Commercial Code shall apply with the necessary modifications to paragraph 1. The following one Article shall be added next to Article 38:

Article 38-(2). Unless otherwise provided for by this Law or by the Articles of Incorporation, all resolutions of a general meeting shall be adopted by a majority in number of the votes of the members present who shall hold more than one-half of the votes of all the members.

In Article 40 paragraph 1 item (1), "in part" shall be amended as "of an important part," item (4) of the same paragraph of the same Article shall be deleted and paragraph 2 of the same Article shall be amended as follows: The substance of the acts mentioned in the preceding paragraph shall be stated in notices provided for in Article 36. Article 41 shall be amended as follows:

Article 41. The provisions of Articles 234,235,238, Article 239 paragraphs 3 to 5 inclusive, Article 240 paragraph 2, Article 241 paragraph 2, Articles 243,244,245-(2) to 245-(4) inclusive,247 to 250 inclusive,252 and 253 shall apply with the necessary modifications to a general meeting of members.

The following one Article shall be added next to Article 44:

Article 44-(2). Any member holding the number of units of contribution representing not less than one-tenth of the capital may inspect or make extracts from the books, records and documents of the account. The company may provide by the Articles of Incorporating that each member may make the demand mentioned in the preceding paragraph. In this case, the provisions of Article 293-(5) of the Commercial Code shall not apply with the necessary modifications to such case, notwithstanding the provisions of Article 46 paragraph 1 of this Law.

In Article 45 paragraph 3, "the auditor if there is an auditor, or order" and "if there is no auditor" shall be deleted. Article 46 paragraph 1 shall be amended as follows: The provisions of Article 282, Article 283 paragraph 1, Articles 284,285,286,288,288-(2), main part of paragraph 1 and paragraph 2 of Article 289, Article 290, Article 293-(5), Article 293-(6) paragraph 2 and Article 293-(7) of the Commercial Code shall apply with the necessary modifications to the accounts of a "yugenkaisha." The following one Article shall be added next to Article 52:

Article 52-(2). A person who has taken units of contribution in case of an increase of capital shall have the same rights as those of a member in respect of any distribution of profits from the date fixed for payment on units of contribution or the date on which the delivery of the property other than money forming the subject-matter of contribution has been effected.

In Article 53 paragraph 1, "the registration of any increase of capital" shall be amended as "the registration of alteration due to the increase of capital," and paragraph 2 of the same Article shall be deleted. The following one Article shall be added next to Article 53:

Article 53-(2). An increase of capital shall take effect when registration has been effected in accordance with the provisions of the preceding Article at the seat of the principal office.

The following one paragraph shall be added to Article 54: The provisions of Article 16 paragraph 1 shall apply with the necessary modifications to the case mentioned in the preceding paragraph. Articles 55 and 56 shall be amended as follows:

Article 55. In cases where there is any unit of contributions which has not yet been taken after an increase of capital, the directors shall be deemed to have jointly taken such unit of contributions. In cases where there is any unit of contributions which has not yet been paid in full or where the delivery of any of the property other than money forming the subject-matter of the contribution has not yet been effected after an increase of capital, the directors are jointly and severally bound to make such payment or to pay the value of the property which has not yet been delivered. The provisions of Article 16 paragraph 2 shall apply with the necessary modifications to the case mentioned in the preceding paragraph.

Article 56. The nullity of an increase of capital may only be asserted by means of an action within six months after the date on which the registration was effected at the seat of the principal office in accordance with the provisions of Article 53. The action mentioned in the preceding paragraph may be brought only by a member or a director. The provisions of Article 280-(16), Article 280-(17) paragraph 1 and Article 280-(18) of the Commercial Code shall apply with the necessary modifications to the case mentioned in paragraph 1.

In Article 57, "Article 352, Article 358 paragraph 1, Articles 371,372, Article 373 paragraph 1 and Article 374" shall be deleted. In Article 63, "102 to 111" shall be amended as "102 to 106 inclusive,108 to 111 inclusive" . In Article 65 paragraph 1, "the auditors" shall be deleted. Article 67 paragraph 2 shall be amended as follows: In the case mentioned in the preceding paragraph, the total amount of the issue-prices of the shares issued at the time of the change of organization shall not exceed the net value of the property then existing as belonging to the company. In Article 67 paragraph 4, "Article 65" shall be deleted, "Article 209 paragraph 3" shall be amended as "Article 209 paragraph 4" and the following one paragraph shall be added next to paragraph 3 of the same Article: The provisions of Article 65 shall apply with the necessary modifications to the case where in the case of paragraph 1 the net value of the property then existing as belonging to the company falls short of the total amount of the issue-prices of the shares issued at the time of the change of organization. Article 69 paragraph 1 item (4) shall be amended as follows: 4. Deleted; The following one Article shall be added next to Article 71:

Article 71-(2). If, in cases mentioned in the following, there exist unavoidable reasons, any member holding the number of units of contribution representing not less than one-tenth of the capital may demand the dissolution of the company of the Court: (1) That the company is deadlocked in the management of the corporate affairs, and that irreparable injury to the company is being suffered or is threatened; (2) That the managing or disposing of the company's property is grossly improper and the existence of the company is being in danger thereby. The provisions of Article 112 paragraph 2 of the Commercial Code shall apply with the necessary modifications to the case mentioned in the preceding paragraph.

In Article 74 paragraph 2, "of an auditor or" shall be deleted. Article 75 paragraph 2 shall be amended as follows: The provisions of Articles 27 to 28 inclusive, 30 to 31-(2) inclusive, 35, 36-(2), Article 37 paragraph 1, and Article 44-(2) of this Law and of Article 39 paragraph 2, Article 78, Article 237 paragraphs 2 and 3, Article 238, Article 244 paragraph 2, Article 247, Article 249, Article 254 paragraph 3, Articles 254-(2),258,266-(2), Articles 269 to 271 inclusive,274 to 276 inclusive,278,282, Article 283 paragraph 1, Articles 284,293-(5) and 293-(7) of the Commercial Code shall apply with the necessary modifications to the liquidator. In Article 77 paragraphs 1 and 2, "Article 270 paragraph 1 and Article 272 paragraph 1" shall be amended as "or Article 270 paragraph 1" and in paragraph 1 of the same Article, "five thousand yen" shall be amended as "three hundred thousand yen" . In Article 78 paragraph 1, "three thousand yen" shall be amended as "two hundred thousand yen," and in paragraph 2 of the same Article "Article 270 paragraph 1 or Article 272 paragraph 1" shall be amended as "or Article 270 paragraph 1" and "Article 272 paragraph 1" shall be deleted. In Article 79, "three thousand yen" shall be amended as "two hundred thousand yen" . In Article 81 paragraph 1, "three thousand yen" shall be amended as "two hundred thousand yen" . In Article 82 paragraph 1, "one thousand yen" shall be amended as "fifty thousand yen" and in item (2) of the same paragraph, "bringing an action....... or" shall be amended as "bringing an action......, intervention as prescribed in Article 268 paragraph 2 of the Commercial Code which is applicable with the necessary modifications under Article 31 paragraph 2 of this Law" and "or exercising the right as prescribed in Article 31-(2)" shall be added next to "exercising the rights of members...... of the capital" . In Article 85 paragraph 1, "five thousand yen" shall be amended as "three hundred thousand yen" ;in item (3) of the same paragraph, "inspection of" shall be amended as "inspection of or making extracts from" ;in item (10) of the same paragraph, "or in the books mentioned in Article 32 paragraph 1 of the Commercial Code" shall be amended as "the books mentioned in Article 32 paragraph 1 of the Commercial Code or in the detailed statement mentioned in Article 293-(5) paragraph 1 of the Commercial Code which is applicable with the necessary modifications under Article 46 paragraph 1 of this Law" ;in item (11) of the same paragraph, "or the report of the auditor" shall be amended as "the report of the auditor or the detailed statement mentioned in Article 293-(5) paragraph 1 of the Commercial Code which is applicable with the necessary modification under Article 46 paragraph 1 of this Law" ;in item (13) of the same paragraph, "Article 288 paragraph 1 or Article 289" shall be amended as "Articles 288,288-(2) or main part of paragraph 1, and paragraph 2 of Article 289" ;in item (21) of the same paragraph, "or paragraph 2" shall be deleted;and in paragraph 2 of the same Article, "Article 270 paragraph 1 and Article 272 paragraph 1" shall be amended as "or Article 270 paragraph 1" . In Article 86, "one thousand yen" shall be amended as "fifty thousand yen" . Supplementary Provisions:

(Date of Enforcement) Article 1. This Law shall come into force as from July 1, 1951.

(Definition) Article 2. The term "New Law" as used in these Supplementary Provisions shall mean the Law relating to "Yugen-Kaisha" as amended by this Law, the term "Old Law" shall mean the former Law relating to "Yugen-Kaisha" , the term "New Commercial Code" shall mean the Commercial Code as amended by the Law for Partial Amendment of Commercial Code (Law No.167 of 1950) and the term "Old Commercial Code" shall mean the former Commercial Code.

(Principle) Article 3. The New Law shall, unless otherwise provided for, apply also to any matter which has arisen before the enforcement of the New Law, without prejudice, however, to any effect which may have been completed under the Old Law. 2 Any provision of the Articles of Incorporation or clause of contract in conflict with any provision of the New Law shall lose its effect from the day of the enforcement of the New Law.

(Order of Dissolution) Article 4. The former rule shall still apply, even after the enforcement of the New Law, to those cases which are provided for in Article 58 of the Old Commercial Code applicable with the necessary modifications under Article 4 of the Old Law and about which application has been filed with the Court or the proceedings have been commenced by the Court before the enforcement of the New Law and to such related cases as are provided for in the said Article. The same shall apply also to the liability of the persons whose application has been rejected in respect of such cases.

(Securities with respect to Institution of Action, etc.) Article 5. The provisions of the Old Commercial Code relating to securities to be furnished with respect to the application for the order of dissolution or the institution of action shall apply with the necessary modifications only to securities which have been furnished before the enforcement of the New Law.

(Limit of Total Amount of Capital and of Amount of Each Unit of Contribution) Article 6. With respect to a "yugen-kaisha" which has come into existence before the enforcement of the New Law, the provisions of Articles 9 and 10 of the Old Law shall still apply even after the enforcement of the New Law.

(Directors'Liability for Acts) Article 7. With respect to directors'liability for acts done by them before the enforcement of the New Law, the former rule shall still apply even after the enforcement of the New Law. 2 In the case of release from the liability mentioned in the preceding paragraph after the enforcement of the New Law, the New Law shall apply to such release, notwithstanding the provisions of the same paragraph. 3 In cases where an action to enforce the liability mentioned in paragraph 1 is instituted after the enforcement of the New Law, the preceding paragraph shall also apply in regard to such action.

(Action against Directors and Liability of Members who have Demanded Bringing of Action) Article 8. In cases where an action has been brought against the directors in accordance with the provisions of Article 31 of the Old Law or of Article 267 paragraph 1 of the Old Commercial Code applicable with the necessary modifications under Article 32 of the Old Law before the enforcement of the New Law, the former rule shall still apply even after the enforcement of the New Law to such action and the liability of the members who have demanded the bringing of such action.

(Demand, etc. for Suspending Execution of Duties of Director) Article 9. With respect to cases where a demand has been made for suspending the execution of the duties of the director or for appointing an acting director in accordance with the provisions of Article 272 of the Old Commercial Code applicable with the necessary modifications under Article 32 of the Old Law before the enforcement of the New Law, the provisions of the said Article of the Old Commercial Code shall still apply with the necessary modifications even after the enforcement of the New Law.

(Auditor to Discharge temporarily Duties of Director) Article 10. In cases where the auditor to discharge temporarily the duties of a director has been appointed before the enforcement of the New Law, with respect to such auditor, the provisions of the proviso to paragraph 1, paragraphs 2 and 3 of Article 276 of the Old Commercial Code shall still apply with the necessary modifications even after the enforcement of the New Law.

(Representative of Company in Action between Company and Directors) Article 11. In cases where a company has brought an action against the directors, or the directors against the company before the enforcement of the New Law, the provisions of Article 277 of the Old Commercial Code shall still apply with the necessary modifications to the person who shall represent the company in such action, even after the enforcement of the New Law. However, this shall not apply after the person who shall represent the company has been determined in accordance with the New Law.

(Bringing of Action, etc. by Auditor) Article 12. In cases where the auditor has brought an action or made demand to the Court before the enforcement of the New Law, the former rule shall still apply to such action or demand even after the enforcement of the New Law.

(Action against Auditors and Liability of Members who have Demanded Bringing of Action) Article 13. The provisions of Article 8 of the Supplementary Provisions shall apply with the necessary modifications to the action which has been brought against the auditors in accordance with the provisions of Article 31 of the Old Law or Article 267 paragraph 1 of the Old Commercial Code, applicable with the necessary modifications under Article 34 of the Old Law before the enforcement of the New Law and the liability of members who have demanded the bringing of such action.

(Release of Auditors from Liability for Making Good) Article 14. The provisions of Article 16 paragraph 2 of the New Law shall apply with the necessary modifications to the cases where auditors'liability which has arisen in accordance with the provisions of Article 15, Article 55 or Article 65 paragraph 1 of the Old Law, or of Article 65 paragraph 1 of the Old Law applicable with the necessary modifications under Article 67 paragraph 4 of the Old Law is released after the enforcement of the New Law.

(Provisions applicable with necessary modifications to Auditors) Article 15. The provisions of Articles 7 and 9 of the Supplementary Provisions shall apply with the necessary modifications to auditors.

(Resolution of General Meeting) Article 16. In cases where a resolution of a general meeting is adopted after the enforcement of the New Law, the New Law shall apply to such resolution of general meeting even if the notice of the convening of the meeting was despatched before the enforcement of the New Law.

(Notice of Convening General Meeting) Article 17. In cases where the notice of convening was despatched to the members before the enforcement of the New Law with respect to a general meeting for resolution of the matters mentioned in the items of Article 40 paragraph 1 of the New Law, the provisions of paragraph 2 of the same Article shall not apply to such notice.

(Convening of Extraordinary General Meeting by Auditor) Article 18. In cases where an auditor has convened an extraodinary general meeting before the enforcement of the New Law, the provisions of Article 235 paragraph 2 of the Old Commercial Code shall still apply with the necessary modifications to such extraordinary general meeting even after the enforcement of the New Law.

(Action Rescinding Resolution) Article 19. In cases where the period provided for in Article 248 paragraph 1 of the Old Commercial Code applicable with the necessary modifications under Article 41 of the Old Law has not expired at the time of the enforcement of the New Law with respect to an action rescinding resolution, the provisions of Article 248 paragraph 1 of the New Commercial Code shall apply with the necessary modifications to the period for bringing such action rescinding resolution.

(Reserve Fund) Article 20. The reserve fund set aside in accordance with the provisions of Article 288 paragraph 1 of the Old Commercial Code applicable with the necessary modifications under Article 46 paragraph 1 of the Old Law shall be deemed to have been set aside as the earned surplus. 2 The company may change a part of the earned surplus mentioned in the preceding paragraph into the capital surplus before the first period for the settlement of accounts after the enforcement of the New Law.

(Detailed Statement) Article 21. The provisions of Article 293-(5) of the New Commercial Code shall apply with the necessary modifications as from the first period for the settlement of accounts after the enforcement of the New Law.

(Order to Convene General Meeting) Article 22. In cases where the order to convene a general meeting of members in accordance with the provisions of Article 45 paragraph 3 of the Old Law has been given to an auditor before the enforcement of the New Law, the former rule shall still apply to such convening of a general meeting even after the enforcement of the New Law.

(Provisions applicable with necessary modifications to Liquidators) Article 23. The provisions of Articles 7 to 11 inclusive and 21 of the Supplementary Provisions shall apply with the necessary modifications to liquidators.

(Registration of Foreign Company) Article 24. In cases where a foreign company has effected the registration of the establishment of its branch office in accordance with the provisions of Article 479 of the Old Commercial Code applicable with the necessary modifications under Article 76 of the Old Law before the enforcement of the New Law, such registration of the establishment of its branch office shall be deemed to be the registration provided for in Article 479 paragraph 2 of the New Commercial Code applicable with the necessary modifications under Article 76 of the New Law. However, such company shall effect the registration of any matter which has become necessary to register in accordance with the New Law within six months from the day of the enforcement of the New Law. 2 A foreign company which has come to require the registration provided for in Article 479 paragraphs 2 and 3 of the New Commercial Code applicable with the necessary modifications under Article 76 of the New Law shall effect such registration within six months from the day of the enforcement of the New Law, except the case mentioned in the preceding paragraph. 3 In case of a violation of the provisions of the proviso to paragraph 1 or of the preceding paragraph, a representative in Japan of the company shall be liable to an administrative penalty not exceeding thirty thousand yen.

(Order of Closing Branch Office of Foreign Company) Article 25. The provisions of Article 4 of the Supplementary Provisions shall apply with the necessary modifications to the cases provided for in Article 484 of the Old Commercial Code applicable with the necessary modifications under Article 76 of the Old Law and to the liability of the persons whose application in respect of such cases has been rejected.

(Penal Provisions) Article 26. As to the application of penal provisions to acts committed befor the enforcement of the New Law, the former rule shall still apply. 2 In cases where the provisions of Chapter IX of the Old Law shall apply to an act committed after the enforcement of the New Law, "five thousand yen," "three thousand yen" and "one thousand yen" in such provisions shall respectively read "three hundred thousand yen," "two hundred thousand yen" and "fifty thousand yen" .

Attorney-General OHASHI Takeo Prime Minister YOSHIDA Shigeru