Right of minor stockholders

This article comments on laws and ordinances in Japan without a description in particular. In addition, I may not reflect the latest laws and ordinances revision. Please talk about the case that oneself met with practically with a law-related expert. Please read the disclaimers.

The right of minor stockholders (I read it aloud) is one of the classifications of the right of the stockholder of the company and says the right that only a stockholder holding stocks more than a constant ratio or a constant number can use. It is expression to match with independent stockholder's rights to say the right that I can use even if it is a stockholder having one stock (1 unit stock). In addition, about the possession of stocks, I may require the above-mentioned possession for a certain period of time.

In a meaning of the degree not to be able to hold the right of management of the company alone to be few here, it is the right that is often used when a major shareholder was relatively opposed to the administration having rather stocks above a certain level. Referring to a stockholder having a right of minor stockholders, I may call it minority stockholders (even the will of the minority stockholder may be used).

• The company law lists only the number of the articles in the following.

Right of minor stockholders in the Japanese law

A right of minor stockholders exists about the thing (thing about supervision, the correction) except the voting right in so-called common benefit rights under the Japanese law.

• Referee advisor election request (Article 306) about the call procedures of the general meeting of stockholders

  As a general rule, the stockholder who has voting rights more than 1/100 of the voting right sequentially in the public companies for six months.

• Agenda right of proposal, notice of bill right to claim (Article 303 Clause 2, Article 305)

  As a general rule, the stockholder who has more than 1/100 of the voting right or more than 300 voting rights sequentially in the public companies for six months.

• Election request (Article 358) of the referee advisor about the execution of duties

  As a general rule, the stockholder who has stocks of the number more than 3/100 of voting right or issued stock.

• Accounting book reading right to claim (Article 433)

  As a general rule, the stockholder who has stocks of the number more than 3/100 of voting right or issued stock.

• General meeting of stockholders call right to claim (Article 297)

  As a general rule, the stockholder who has voting rights more than 3/100 of the voting right sequentially in the public companies for six months.

• Submission (Article 854) of the suit of the officer dismissal

  As a general rule, the stockholder who has voting rights more than 3/100 of the voting right sequentially in the public companies for six months

  When a bill dismissing an officer was rejected in a general meeting of stockholders or when I do not produce effect than there being the fate of the resolution of the general meeting of stockholders of dismissing the officer concerned needing the resolution of the kind general meeting of stockholders though there was a serious fact to violate an act of the injustice of the officer or laws and ordinances or articles of association, within 30 days from the day of the general meeting of stockholders, I can accuse it.

• Submission (Article 833) of the suit of the company dissolution

  As a general rule, the stockholder who has the number more than 10/100 of voting right or issued stock

• The opposition to simple mergers right (Article 796 Clause 4)

  A stockholder having voting right or more that can reject a special resolution under a quorum limit.

Allied item

• Company law
• General meeting of stockholders
• The participation in management right
• Principle of the stockholder equality

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