1981 BANKING LAW. COPYRIGHT RODERICK H. SEEMAN

Article 16-4. Ownership of the Shares of Overseas Corporations

Banks with the approval of the Ministry of Finance, can acquire or hold more than 50% of the issued and outstanding shares (limited to those with voting rights) concerning the shares or equity interests (hereinafter in this Article meaning shares, etc.) of companies listed in the Items, hereunder.

(1) Foreign companies engaged in the banking business.

(2) Foreign companies (other than those falling under the previous Item) which engage in the securities business (meaning the business doing any of the activities listed in any of the Items of Article 2, Paragraph 8 (Definitions) of the Securities Exchange Law.

2. In those situations where a bank receiving the approval of the previous Paragraph holds of the shares, etc of companies listed in any of the Items of the previous Paragraph , the provision of the previous Paragraph shall apply mutatis mutandis concerning those shares held by the said bank when the said company of one of the Items changes into a company listed in another of the items of the previous Paragraph.

3. The provisions of Article 16-2, Paragraph 2 shall apply mutatis mutandis concerning the acquisition or holding shares by a bank, in the situations of the previous two Articles.