# Japanese — Corporate, M&A, JV and Powers of Attorney Sub-Lexicon

Unified Japanese reference covering corporate resolutions and governance under the
Companies Act (会社法, Act No. 86 of 2005, as last substantively revised in 2019 with
further reforms in 2021), mergers and acquisitions, joint ventures, shareholders'
agreements and related collateral, and powers of attorney / proxies. Use alongside
`references/corporate-ma-jv.md`. For tax-related terminology, see `japanese-taxes.md`
and `references/taxes.md`.

---

## 1. Core M&A Terms

| Japanese | English |
|---|---|
| 合併及び買収 (M&A) | mergers and acquisitions (M&A) |
| 合併 | merger |
| 吸収合併 | absorption-type merger |
| 新設合併 | consolidation-type merger |
| 会社分割 | company split / corporate demerger |
| 吸収分割 | absorption-type company split |
| 新設分割 | incorporation-type company split |
| 株式譲渡 | share transfer / stock transfer |
| 株式交換 | share exchange (statutory) |
| 株式移転 | share transfer to a holding company (statutory) |
| 公開買付 (TOB) | tender offer / takeover bid (TOB) |
| 第三者割当増資 | third-party allotment of new shares |
| 株式取得 | share acquisition |
| 買収 / 取得 | acquisition |
| 売却 / 処分 | disposal / divestiture |
| 対象会社 / ターゲット会社 | target company |
| 買主 / 買収者 | purchaser / acquirer |
| 売主 / 譲渡人 | seller / vendor |
| 基本合意書 / LOI | letter of intent (LOI) |
| 秘密保持契約 (NDA/CA) | confidentiality agreement / non-disclosure agreement |

## 2. Due Diligence

| Japanese | English |
|---|---|
| デューデリジェンス (DD) | due diligence |
| 法務デューデリジェンス | legal due diligence |
| 財務デューデリジェンス | financial due diligence |
| 税務デューデリジェンス | tax due diligence |
| 事業デューデリジェンス | commercial due diligence |
| データルーム | data room |
| 情報開示 | disclosure |
| 開示スケジュール / 開示別紙 | disclosure schedules |
| 開示書簡 | disclosure letter |
| 重要な発見事項 | material findings |

## 3. Price, Adjustments, Warranties, Escrow

| Japanese | English |
|---|---|
| 株式譲渡価格 | purchase price / share transfer price |
| 企業価値 | enterprise value |
| 株式価値 | equity value |
| 価格調整 | purchase price adjustment |
| クロージング調整 | completion (UK) / closing (US) adjustment |
| 完了時調整方式 / 完了計算書方式 | completion accounts mechanism |
| ロックド・ボックス方式 | locked box mechanism |
| ロックド・ボックス基準日 | locked box date |
| 運転資本調整 | working capital adjustment |
| 純有利子負債調整 | net debt adjustment |
| アーンアウト | earn-out |
| 後払い対価 | deferred consideration |
| エスクロー | escrow |
| エスクロー口座 | escrow account |
| エスクロー・エージェント | escrow agent |
| 表明及び保証 | representations and warranties |
| 売主の表明保証 | seller's warranties |
| 基本的表明保証 | fundamental warranties |
| 事業に関する表明保証 | business warranties |
| 税務上の表明保証 | tax warranties |
| 補償上限額 / キャップ | cap (liability cap) |
| 免責金額 / バスケット | basket / de minimis threshold |
| 表明保証期間 | warranty period |
| 表明保証保険 | warranty and indemnity insurance (W&I insurance) |
| 補償 / 損害填補 | indemnification / indemnity |
| 補償請求権 | indemnity claim |
| 特別補償 | specific indemnity |
| 重大な悪影響 / MAC | material adverse change (MAC) |
| クロージング前提条件 | conditions precedent (to completion / closing) |
| 通常の業務の範囲内 | in the ordinary course of business |

## 4. Tax Interface

For full tax terminology see `japanese-taxes.md` and `references/taxes.md`. The terms
below appear in M&A SPAs and JV documents and should be cross-checked against the tax
sub-lexicon.

| Japanese | English |
|---|---|
| 法人税 | corporation tax (hōjinzei) |
| 法人住民税 | local corporate inhabitant tax |
| 事業税 | enterprise tax |
| 地方法人税 | local corporation tax |
| 消費税 | consumption tax |
| 源泉徴収税 | withholding tax |
| 適格組織再編 | qualified reorganisation (tax-deferred treatment) |
| 適格合併 / 適格分割 | qualified merger / qualified company split |
| 非適格組織再編 | non-qualified reorganisation |
| 繰越欠損金 | tax loss carry-forward (NOL) |
| 連結納税制度 / グループ通算制度 | consolidated taxation / group relief system |
| 移転価格税制 | transfer pricing rules |
| 過少資本税制 | thin capitalisation rules |
| タックス・インデムニティ | tax indemnity |
| ストレートな税務保証 | stand-alone tax warranty |

## 5. Shareholders' Agreement, JV Funding, Shareholder Loans

| Japanese | English |
|---|---|
| 合弁事業 / ジョイントベンチャー (JV) | joint venture (JV) |
| 合弁契約 / JV契約 | joint venture agreement |
| 株主間契約 / 株主間協定 | shareholders' agreement (SHA) |
| 合弁会社 | joint venture company |
| 出資者 / パートナー | partner / venturer |
| 多数株主 / 過半数株主 | majority shareholder |
| 少数株主 | minority shareholder |
| 出資比率 | equity ratio / shareholding ratio |
| 出資 / 資本拠出 | capital contribution |
| 現物出資 | contribution in kind |
| 金銭出資 | cash contribution |
| 追加出資 | additional capital contribution |
| 株主ローン / 株主貸付 | shareholder loan |
| 劣後ローン | subordinated loan |
| 転換社債型新株予約権付社債 | convertible bond with stock acquisition rights (CB) |
| 新株予約権 | stock acquisition rights / share warrant |
| 種類株式 | class shares |
| 議決権制限株式 | shares with restricted voting rights |
| 取得請求権付株式 | redeemable shares (at shareholder's request) |
| 取得条項付株式 | callable shares (at company's request) |
| 拒否権付株式 / 黄金株 | veto-right shares / golden share |
| 事業計画 | business plan |
| 年度予算 | annual budget |
| 配当方針 | dividend policy |

## 6. Parties and Capacity

| Japanese | English |
|---|---|
| 当事者 | party (parties) |
| 締約当事者 | contracting party |
| 関係当事者 | relevant party |
| 株主 | shareholder / stockholder |
| 創業株主 | founding shareholder |
| 機関投資家 | institutional investor |
| 法人 | legal person / juridical person |
| 自然人 | natural person |
| 子会社 | subsidiary |
| 関連会社 | affiliate / associated company |
| 支配会社 | controlling company |
| 共同支配 | joint control |

## 7. Notarial and Form Requirements

| Japanese | English |
|---|---|
| 公証人 | notary public |
| 公証役場 | notary office |
| 認証 | authentication / notarial certification |
| 公正証書 | notarised deed (kōsei shōsho) |
| 私署証書認証 | authentication of a privately executed document |
| 確定日付 | certified date (kakutei hizuke) |
| 印鑑証明書 | seal registration certificate (inkan shōmeisho) |
| 実印 | registered seal (jitsuin) |
| 認印 | personal seal (mitomein — non-registered) |
| 会社実印 / 代表者印 | company registered seal / representative's seal |
| 銀行印 | bank seal |
| 角印 / 社印 | square seal / company seal (functional) |
| 電子署名 | electronic signature |
| 電子認証 | electronic authentication |
| アポスティーユ | apostille |
| 領事認証 | consular legalisation |
| 登記 | registration |
| 商業登記簿謄本 | certified copy of commercial register (tōkibō tōhon) |
| 履歴事項全部証明書 | certificate of all historical matters (full company extract) |
| 現在事項全部証明書 | certificate of all current matters |
| 印鑑届書 | seal registration application |

## 8. Corporate Approvals and Regulatory Clearance

| Japanese | English |
|---|---|
| 株主総会承認 | shareholders' meeting approval |
| 取締役会承認 | board of directors' approval |
| 監査役会承認 | board of auditors' approval |
| 監査等委員会の意見 | opinion of audit and supervisory committee |
| 許認可取得 | regulatory approval / licence (UK) / license (US) |
| チェンジ・オブ・コントロール条項 | change of control clause |
| 独占禁止法上の届出 | antitrust filing / merger notification |
| 公正取引委員会 (公取委) | Japan Fair Trade Commission (JFTC) |
| 事前届出 | prior notification |
| 待機期間 | waiting period |
| 企業結合審査 | merger review |
| 第二次審査 | second-phase review |
| 排除措置命令 | cease and desist order |
| 外為法上の届出 / 事前届出 | foreign exchange filing / FEFTA notification |
| 事後報告 | ex post report |
| 対内直接投資 | inward direct investment |
| 指定業種 | designated sectors (FEFTA) |
| コア業種 | core sectors (FEFTA) |
| 経済安全保障 | economic security |

## 9. JV Governance, Deadlock and Exit

| Japanese | English |
|---|---|
| 重要事項 / 同意事項 | reserved matters / consent matters |
| 拒否権 / ビトー権 | veto right |
| デッドロック | deadlock |
| デッドロック解消メカニズム | deadlock resolution mechanism |
| エスカレーション | escalation |
| 調停 / 仲介 | mediation |
| 仲裁 | arbitration |
| ロシアン・ルーレット | Russian roulette |
| テキサス・シュートアウト | Texas shootout |
| メキシカン・シュートアウト | Mexican shootout |
| タグ・アロング権 | tag-along right |
| ドラッグ・アロング権 | drag-along right |
| 先買権 / 優先買取権 | right of first refusal (ROFR) / pre-emption right |
| 優先交渉権 | right of first offer (ROFO) |
| プット・オプション | put option |
| コール・オプション | call option |
| 出口戦略 / エグジット | exit strategy |
| IPO / 上場 | initial public offering (IPO) / listing |
| 第三者への売却 | third-party sale |
| トレードセール | trade sale |
| ロックアップ / 譲渡禁止期間 | lock-up period |
| 競業避止義務 | non-compete obligation |
| 勧誘禁止義務 | non-solicitation obligation |
| 秘密保持義務 | confidentiality obligation |

## 10. Resolutions — Procedural Terms

| Japanese | English |
|---|---|
| 定時株主総会 | annual general meeting (AGM) |
| 臨時株主総会 | extraordinary general meeting (EGM) |
| 招集通知 | notice of meeting / convocation notice |
| 招集手続 | convocation procedure |
| 招集権者 | convener |
| 議長 | chairperson |
| 議案 | agenda item / proposal |
| 議事日程 | order of business |
| 議事録 | minutes |
| 議事録の作成者 | minute-taker |
| 出席者 | attendees / those present |
| 欠席者 | absentees |
| 定足数 | quorum |
| 議決権 | voting rights |
| 議決権数 | number of voting rights |
| 委任状 | proxy / power of attorney for the meeting |
| 書面決議 / みなし決議 | written resolution / deemed resolution (Companies Act Arts. 319, 370) |
| 特別決議 | special resolution (two-thirds supermajority) |
| 賛成 | in favour (UK) / in favor (US) |
| 反対 | against |
| 棄権 | abstention |
| 可決 / 承認 | approval / adoption |
| 否決 | rejection |
| 採決 | taking the vote |
| 全会一致 | unanimous |
| 過半数の賛成 | majority vote |
| 取締役会 | board of directors |
| 取締役会決議 | board resolution |
| 取締役会議事録 | board minutes (Companies Act Art. 369(3)) |
| 取締役会の招集 | convocation of board meeting |

## 11. Resolutions — Substantive Matters

| Japanese | English |
|---|---|
| 計算書類 / 決算書類 | financial statements |
| 計算書類の承認 | approval of financial statements |
| 事業報告 | business report |
| 配当の支払 | payment of dividend |
| 役員の選任 / 解任 | appointment / removal of officers |
| 役員報酬 | directors' remuneration |
| 退職慰労金 | retirement allowance for officers |
| 新株発行 | issuance of new shares |
| 自己株式の取得 | acquisition of treasury shares |
| 自己株式の消却 | cancellation of treasury shares |
| 株式分割 | stock split / share split |
| 株式併合 | reverse stock split / share consolidation |
| 単元株制度 | unit share system |
| 資本金の額の減少 | reduction of stated capital |
| 準備金の額の減少 | reduction of reserves |
| 組織変更 | corporate conversion |
| 定款変更 | amendment to the articles of incorporation |
| 解散 | dissolution |
| 清算 | liquidation / winding up |
| 残余財産分配 | distribution of residual assets |
| 利益相反取引 | conflict-of-interest transaction (Companies Act Arts. 356, 365) |
| 競業取引 | competing transaction |
| 取締役の責任の一部免除 | partial release of directors' liability |
| 責任限定契約 | liability limitation agreement |
| 責任追及等の訴え (株主代表訴訟) | derivative action (shareholder representative action) |

## 12. Officers and Bodies

| Japanese | English |
|---|---|
| 取締役 | director |
| 社内取締役 | inside director |
| 社外取締役 | outside director / independent director |
| 業務執行取締役 | executive director / managing director (operational) |
| 社外監査役 | outside statutory auditor |
| 監査役会 | board of statutory auditors |
| 常勤監査役 | full-time statutory auditor |
| 会計参与 | accounting advisor (kaikei sanyo) |
| 執行役 | executive officer (shikkōyaku — statutory, in committee-type companies) |
| 代表執行役 | representative executive officer |
| 指名委員会 | nominating committee |
| 監査委員会 | audit committee |
| 報酬委員会 | compensation committee |
| 監査等委員 | audit and supervisory committee member |
| 会社秘書役 / 総務部長 | company secretary (functional equivalent) |
| 取締役の忠実義務 | duty of loyalty (Companies Act Art. 355) |
| 取締役の善管注意義務 | duty of care (Civil Code Art. 644 via Companies Act Art. 330) |
| 経営判断の原則 | business judgment rule (case law principle) |
| 取締役の責任 | directors' liability |

## 13. Company Types and Governance Models

| Japanese | English |
|---|---|
| 株式会社 (KK) | kabushiki kaisha (KK) / joint-stock corporation |
| 合資会社 | gōshi kaisha / limited partnership company |
| 合名会社 | gōmei kaisha / general partnership company |
| 有限責任事業組合 (LLP) | limited liability partnership (LLP) |
| 投資事業有限責任組合 (LPS) | investment limited partnership |
| 公開会社 | public company (issued shares freely transferable) |
| 非公開会社 / 株式譲渡制限会社 | non-public company / closely-held company |
| 大会社 | large company (capital ≥ ¥500m or liabilities ≥ ¥20bn) |
| 監査役会設置会社 | company with a board of statutory auditors |
| 指名委員会等設置会社 | company with three committees |
| 監査等委員会設置会社 | company with audit and supervisory committee |
| 委員会設置会社 (旧称) | committee-type company (former name) |
| 持株会社 | holding company |
| 完全親会社 | wholly-owning parent company |
| 完全子会社 | wholly-owned subsidiary |
| 特例有限会社 | special limited company (transitional from old yūgen kaisha) |

## 14. Powers of Attorney and Proxies — Types and Formalities

| Japanese | English |
|---|---|
| 委任 (Civil Code Arts. 643–656) | mandate (statutory contract) |
| 代理 (Civil Code Arts. 99–118) | agency / representation |
| 任意代理 | voluntary agency (by appointment) |
| 法定代理 | statutory agency (by operation of law) |
| 包括的委任状 | general power of attorney |
| 個別委任状 | special / specific power of attorney |
| 復代理 / 復委任 | sub-agency / sub-delegation |
| 復代理人 | sub-agent (fukudaikai-nin) |
| 自己契約 | self-contracting (prohibited under Civil Code Art. 108) |
| 双方代理 | dual representation (prohibited under Civil Code Art. 108) |
| 利益相反 | conflict of interest |
| 表見代理 | apparent / ostensible agency (Civil Code Arts. 109, 110, 112) |
| 無権代理 | unauthorised agency (Civil Code Arts. 113–117) |
| 追認 | ratification |
| 撤回 / 解除 | revocation / termination |
| 任意後見契約 | voluntary guardianship contract (Act on Voluntary Guardianship 1999) |
| 任意後見人 | voluntary guardian |
| 任意後見監督人 | supervisor of voluntary guardian (court-appointed) |
| 法定後見 | statutory adult guardianship |
| 成年後見 / 保佐 / 補助 | adult guardianship / curatorship / assistance (three tiers) |

## 15. Powers of Attorney and Proxies — Scope and Authority

| Japanese | English |
|---|---|
| 代理権 | power of representation / authority to act |
| 代理権の範囲 | scope of authority |
| 代理権の授与 | grant of authority |
| 代理権の消滅 | termination of authority |
| 委任の終了事由 | grounds for termination of mandate (Civil Code Art. 653) |
| 本人 / 委任者 | principal (mandator) |
| 代理人 / 受任者 | agent (mandatary) |
| 受任 | acceptance of mandate |
| 善管注意義務 | duty of care of agent (Civil Code Art. 644) |
| 報告義務 | duty to report |
| 受取物等の引渡義務 | duty to deliver received items |
| 損害賠償 | damages |
| 弁護士への委任 | mandate to a lawyer |
| 訴訟代理人 | litigation representative / counsel of record |
| 訴訟委任状 | litigation power of attorney |
| 不動産取引の委任 | mandate for real estate transactions |
| 銀行取引の委任 | mandate for banking transactions |
| 包括承継 | universal succession |
| 特定承継 | particular succession |

## 16. Proxies for Shareholders' / Board Meetings

| Japanese | English |
|---|---|
| 議決権の代理行使 | proxy voting (Companies Act Art. 310) |
| 委任状 (株主総会用) | proxy form (for shareholders' meeting) |
| 委任状勧誘 | proxy solicitation |
| 委任状用紙 | proxy card / proxy form |
| 書面投票制度 | written voting system |
| 電子投票制度 | electronic voting system |
| 議決権行使の代理人資格 | qualification of proxy holder (often restricted to shareholders by articles) |
| 議決権の不統一行使 | split voting |
| 取締役の代理出席 | proxy attendance by director (generally not permitted) |

## 17. Verbal Anchors (Operative Verbs, Stock Phrases)

| Japanese | English |
|---|---|
| 委任する | to grant authority / to appoint as agent |
| 授権する | to confer power |
| 委ねる | to entrust |
| 代理して行う | to act on behalf of |
| 〜の名において | in the name of |
| 〜のために | for the account of |
| 一切の権限を授与する | to grant full and unrestricted authority |
| 必要かつ適切な行為 | acts necessary and appropriate |
| 本件取引に関する一切の事項 | all matters relating to this transaction |
| 本委任状の有効期間 | validity period of this power of attorney |
| 〜まで有効とする | to be valid until |
| いつでも撤回することができる | may be revoked at any time |
| 復代理人を選任する権限 | power to appoint a sub-agent |
| 自己契約および双方代理を許諾する | to permit self-contracting and dual representation |
| 上記に署名押印する | to sign and seal the above |
| 異議なく承認する | to approve without objection |
| 全会一致で可決する | to be unanimously approved |
| 賛成多数で可決する | to be approved by majority |
| 議事録に記載のとおり | as recorded in the minutes |
| 別紙のとおり | as set out in the annex |
| 上記決議事項に異議なく可決した | the above resolutions were adopted without objection |

## 18. Section Headings (Recurring)

| Japanese | English |
|---|---|
| 定義及び解釈 | DEFINITIONS AND INTERPRETATION |
| 売買 / 譲渡 | SALE AND PURCHASE |
| 譲渡価格 | PURCHASE PRICE |
| 前提条件 | CONDITIONS PRECEDENT |
| クロージング | COMPLETION / CLOSING |
| 誓約事項 | COVENANTS |
| 補償 | INDEMNIFICATION |
| 解除 | TERMINATION |
| 一般条項 | MISCELLANEOUS |
| 定義 | DEFINITIONS |
| 合弁会社の設立 / 目的 | ESTABLISHMENT AND PURPOSE |
| 出資 | CAPITAL CONTRIBUTIONS |
| 競業避止 | NON-COMPETE |
| 秘密保持 | CONFIDENTIALITY |
| 期間及び終了 | TERM AND EXIT |
| 定足数の確認 | CONFIRMATION OF QUORUM |
| 決議事項 | MATTERS RESOLVED |
| 報告事項 | MATTERS REPORTED |
| 閉会 | ADJOURNMENT |
| 署名 | SIGNATURES |
| 委任事項 | SCOPE OF MANDATE |
| 有効期間 | VALIDITY PERIOD |
| 復代理 | SUB-DELEGATION |

## 19. Notes — Jurisdictional Traps and Translator Guidance

- **Companies Act (会社法)**: Japan's principal corporate law, enacted as Act No. 86 of
  2005, with major substantive revisions in 2014 and 2019, and further amendments in
  2021 (electronic provision of reference materials, etc.). Reference as "Companies
  Act" on first mention; Japanese practitioners often add "(会社法)" parenthetically.
- **吸収合併 vs 新設合併**: The distinction between absorption-type (one entity
  survives) and consolidation-type (new entity created) merger is statutory and has
  distinct procedural requirements (creditor protection, share exchange ratio,
  registration). Always render with the type and never collapse into a generic
  "merger".
- **会社分割**: Statutory restructuring mechanism with no direct equivalent in many
  common law jurisdictions. Two sub-types (吸収分割 / 新設分割) parallel the merger
  forms. Translate as "company split" or "corporate demerger" and specify the type.
  Note that 会社分割 transfers contracts and liabilities by operation of law within
  the scope defined in the split plan/agreement, unlike a 事業譲渡.
- **事業譲渡**: A business transfer is a contractual transfer of assets and liabilities
  — not a statutory reorganisation. It requires individual third-party consent for
  contract assignments and (under Companies Act Art. 467) special shareholders'
  resolution where the transfer involves the whole or a substantial part of the
  business. Flag the distinction when translating.
- **株式交付 (kabushiki kōfu)**: Introduced by the 2019 reform (effective 1 March
  2021) as a new restructuring tool allowing a Japanese stock company to acquire
  shares of another Japanese stock company in exchange for issuing its own shares,
  without unanimous consent of the target's shareholders. Translate as "share
  delivery" and explain — there is no exact common-law analogue.
- **JFTC merger notification**: Transactions meeting the threshold (combined domestic
  turnover > ¥20 billion and target group's domestic turnover > ¥5 billion) require
  prior notification to the JFTC. Standard waiting period is 30 days from acceptance
  (extendable in second-phase review). Flag threshold and timing issues.
- **FEFTA (外為法)**: The Foreign Exchange and Foreign Trade Act requires prior
  notification for inward direct investments by foreign investors in designated
  business sectors (with stricter rules for "core" sectors covering national security,
  public order, public safety). Standard review period is 30 days (extendable to 4
  months, exceptionally 5 months). 2019 amendment lowered the notification threshold
  to 1% (from 10%) of voting rights for listed companies in core sectors. Always flag
  when a foreign party is acquiring shares in a Japanese company and check whether
  the target operates in a designated sector.
- **Companies Act governance models**: Japan's Companies Act offers three governance
  structures for KKs with a board: (1) **company with a board of statutory auditors**
  (監査役会設置会社) — the traditional model, separating monitoring (kansayaku) from
  management; (2) **company with three committees** (指名委員会等設置会社) — closer
  to a US monitoring board with nominating, audit, and compensation committees and a
  CEO-style 代表執行役; (3) **company with audit and supervisory committee**
  (監査等委員会設置会社) — a hybrid introduced in 2014 with audit functions delegated
  to a committee of directors. The governance model materially affects JV mechanics
  and approval flows. Identify and flag the applicable structure.
- **代表取締役 (representative director)**: A role unique to Japanese corporate law.
  Only the representative director(s) can legally bind the company vis-à-vis third
  parties under Companies Act Art. 349. The "president" (社長) without representative
  director status cannot represent the company. In a JV, allocation of the
  representative director position is a critical control issue. Translate as
  "representative director" and never as "CEO" or "managing director" without an
  explanatory footnote.
- **監査役 (kansayaku)**: The statutory auditor — emphatically NOT the equivalent of
  an external auditor. The kansayaku is an internal corporate organ that monitors
  directors' execution of duties. The English-language audit profession term for the
  external accounting auditor is 会計監査人 (accounting auditor). Transliterate
  kansayaku and explain on first mention to avoid the false friend.
- **執行役 vs 執行役員**: Critical distinction. **執行役 (shikkōyaku)** is a
  statutory role under the Companies Act in committee-type companies (指名委員会等
  設置会社). **執行役員 (shikkōyakuin)** is a contractual / internal title with no
  statutory basis — used widely in companies of all governance models for senior
  managers below the board. Translate differently and flag — both render as
  "executive officer" in English without further context.
- **書面決議 / みなし決議 (deemed resolution)**: Companies Act Arts. 319 (shareholders)
  and 370 (board) allow resolutions to be passed without a meeting if all
  shareholders / directors consent in writing or electronically. The articles must
  authorise the board procedure under Art. 370. Translate as "written resolution" or
  "deemed resolution" — note that for shareholders' resolutions only, unanimity is
  always required (no carve-outs).
- **Board minutes requirements**: Companies Act Art. 369(3) requires board minutes to
  be signed or sealed by attending directors and statutory auditors (or by the
  representative director plus designated others under the articles). Minutes must be
  kept at the head office for 10 years. Flag when translating board minutes.
- **Transfer restrictions in non-public companies**: Most non-listed KKs are
  非公開会社 (non-public companies) under Companies Act Art. 2(5) — meaning all
  classes of shares carry transfer restrictions in the articles, requiring board (or
  shareholders' meeting) approval for any share transfer. Almost all JV companies
  are non-public. Flag the restriction mechanism and identify the approval body
  designated in the articles.
- **特別決議 (special resolution)**: Under Companies Act Art. 309(2), a special
  resolution requires a quorum of shareholders holding a majority of voting rights
  (which can be reduced to one-third by the articles) and approval by two-thirds of
  voting rights present. Higher thresholds may be set in the articles. Used for
  fundamental matters: amendments to articles, mergers, splits, share exchanges /
  transfers / deliveries, capital reductions, and dissolution. Flag the precise
  threshold being invoked.
- **特殊決議 (super-special resolution)**: Required for matters such as issuing class
  shares with discriminatory treatment of existing shareholders. Even higher
  thresholds (e.g., majority of all shareholders + two-thirds of voting rights, or
  majority + three-quarters depending on the matter — Art. 309(3) and (4)). Render
  as "super-special resolution" with parenthetical explanation of the threshold.
- **2019 Companies Act revision**: Key changes include mandatory outside directors
  for large listed companies, expanded scope of D&O insurance and indemnity
  provisions, revised executive compensation rules requiring policies to be set by
  the board, and the introduction of 株式交付 (share delivery). 2021 amendments
  introduced electronic provision of reference materials for shareholders' meetings.
  Flag the relevant version when translating dated documents.
- **委任 vs 代理 (mandate vs agency)**: Under Japanese law, 委任 (Civil Code Arts.
  643–656) is the underlying contract between principal and agent (the engagement),
  while 代理 (Civil Code Arts. 99–118) is the external power of representation
  vis-à-vis third parties. A POA (委任状) typically evidences both: the contractual
  mandate and the grant of representation authority. Most translations conflate
  these into "mandate" or "power of attorney" — but in formal legal documents
  preserve the distinction (e.g., "the mandate (委任) and grant of representation
  authority (代理権)").
- **表見代理 (apparent agency)**: Civil Code Arts. 109, 110, and 112 protect third
  parties who reasonably believed an agent had authority. Three sub-types: (i) where
  the principal indicated a grant of authority, (ii) where the agent acted outside
  the granted scope but the third party reasonably believed otherwise, (iii) where
  authority had been terminated but the third party did not know. Translate as
  "apparent" or "ostensible" agency and flag the sub-type.
- **自己契約 / 双方代理 (self-contracting / dual representation)**: Civil Code Art.
  108 prohibits an agent from contracting with themselves on behalf of the principal,
  or from representing both parties to a transaction, unless the principal has
  consented or the act consists merely of performing an existing obligation. POAs
  intended for transactional use commonly include an express authorisation of these
  acts ("自己契約および双方代理を許諾する"). Always render this clause precisely.
- **任意後見契約 (voluntary guardianship contract)**: Governed by the Act on
  Voluntary Guardianship Contracts (任意後見契約に関する法律, 1999). Must be
  executed in the form of a notarial deed (公正証書) and registered. Takes effect
  only upon the principal's loss of mental capacity and the family court's
  appointment of a 任意後見監督人 (supervisor). This is the closest Japanese
  analogue to a continuing / lasting / enduring power of attorney. Translate as
  "voluntary guardianship contract" — not "lasting power of attorney" — and explain.
- **公正証書 (kōsei shōsho — notarial deed)**: A document executed before a notary
  public (公証人) with full evidentiary weight (and, for monetary obligations
  containing an executory clause 執行受諾文言, immediate enforceability without a
  judgment). Required for certain corporate documents (e.g., articles of
  incorporation of a KK) and for voluntary guardianship contracts. Translate as
  "notarial deed" and never as "affidavit" (which is a different common-law
  concept).
- **印鑑証明書 / 実印 (seal registration certificate / registered seal)**: Japanese
  legal practice continues to rely heavily on registered seals. Companies and
  individuals register a 実印 with the relevant office (legal affairs bureau for
  companies, municipal office for individuals) and obtain a 印鑑証明書 evidencing
  the registration. Documents bearing the 実印 plus an accompanying current 印鑑
  証明書 carry strong evidentiary weight. Translation should preserve "registered
  seal" and "seal registration certificate" — do not collapse into "signature".
  Recent reforms have expanded acceptance of electronic signatures, but seal
  practice remains dominant in corporate and notarial contexts.
- **株式交付 / 株式交換 / 株式移転 — three "share-based" restructurings**: All three
  result in a parent-subsidiary relationship via share consideration but differ
  materially. **株式交換 (share exchange)** creates a 100% parent–subsidiary
  relationship with the entire share capital exchanged. **株式移転 (share transfer
  to holding company)** creates a new holding company. **株式交付 (share delivery —
  2019 reform)** allows acquisition of less than 100% (still requiring the
  acquirer to make the target a subsidiary) without unanimous consent. Always
  identify which mechanism is in play.
- **議決権の代理行使 (proxy voting)**: Companies Act Art. 310 permits proxy voting
  at shareholders' meetings. The articles of many Japanese listed companies
  restrict the qualification of proxy holders to other shareholders — this
  restriction has been upheld by the Supreme Court (1968) on the rationale of
  preventing meeting disruption. Always check the articles when translating proxy
  arrangements involving Japanese companies.
- **外国公文書認証 / アポスティーユ**: Japan acceded to the Hague Apostille
  Convention with effect from 28 July 1970 — no consular legalisation is required
  for documents flowing between Japan and other Convention states. Apostilles for
  Japanese public documents are issued by the Ministry of Foreign Affairs (外務省).
  For private documents (including most POAs), notarisation by a Japanese 公証人
  is typically required first, followed by an apostille on the notary's
  certification. Flag the chain when translating POAs intended for cross-border
  use.

## Standard Bilingual Dictionary (2006) — Additional Mappings

| Japanese | English |
|---|---|
| 委員会 | committee / commission / board |
| 委員 | committee member / commissioner |
| 委員会等設置会社 | corporation with committees (historic name; now 指名委員会等設置会社 "company with committee of nominations, etc.") |
| 親会社 | parent corporation |
| 親子 | parent and subsidiary (corporate context) |
| 親事業者 | parent enterprise / main subcontracting enterprise |
| 関係会社 | affiliated company |
| 特別支配会社 | specially-controlled company (holding ≥90% of voting rights) |
| 合同会社 (GK) | limited liability company (Japanese LLC — modelled on US LLC) |
| 代表取締役 | representative director (the director authorised to bind the company externally) |
| 監査役 | company auditor / statutory auditor (Japanese supervisory officer — distinct from 会計監査人) |
| 会計監査人 | accounting auditor (the external auditing firm — distinct from 監査役) |
| 執行役員 | executive officer (contractual / non-statutory senior management — not the Companies Act role) |
| 定款 | articles of incorporation |
| 発起人 | incorporator |
| 設立登記 | incorporation registration |
| 商号 | trade name |
| 本店 | head office |
| 支店 | branch office |
| 営業所 | business office |
| 営業 | business (as going concern — Art. 15 Commercial Code — distinct from 事業 "enterprise/undertaking") |
| 事業譲渡 | transfer of business (Art. 467 Companies Act) |
| 株式交付 | share delivery (2021 Companies Act amendment — partial share-exchange allowing majority acquisition without squeezing out minorities) |
| 株主総会 | shareholders' meeting / general meeting of shareholders |
| 株主提案権 | shareholder proposal right |
| 議決権行使書面 | voting proxy form / written proxy |
| 書面決議 | written resolution |
| 株主名簿 | shareholder register |
| 基準日 | record date |
| 株主代表訴訟 | shareholder derivative action |
| 普通決議 | ordinary resolution (simple majority) |
| 特殊決議 | special special resolution (super-majority — e.g., 3/4) |
| 株主名簿管理人 | administrator of the shareholder register |
| 資本金 | stated capital |
| 資本準備金 | capital reserve |
| 利益準備金 | earnings reserve |
| その他資本剰余金 | other capital surplus |
| その他利益剰余金 | other earnings surplus |
| 剰余金の配当 | distribution of surplus (dividend payment — Art. 453 Companies Act) |
| 中間配当 | interim dividend |
| 分配可能額 | distributable amount |
| 新株予約権付社債 | bond with subscription right (convertible bond) |
| ストックオプション | stock option |
| 大量保有報告書 | large shareholding report (5% rule disclosure) |
| MBO (マネジメント・バイアウト) | management buy-out |
| LBO (レバレッジド・バイアウト) | leveraged buy-out |
| 黄金株 | golden share |
| ポイズンピル | poison pill / shareholder rights plan |
| ホワイトナイト | white knight |
