Article 26 The term "foreign investor" shall mean any one of the following persons who makes inward direct investment, etc. listed in the items of the next paragraph.
(i) An individual who is a non-resident
(ii) A juridical person or other organization established pursuant to foreign laws and regulations,
or a juridical person or other organization having its principal office in a foreign state
or a juridical person or other organization having its principal office in a foreign state
(iii) A corporation of which the ratio of the sum of the number of voting rights directly held by
those listed in item 1 or 2 (excluding voting rights relating to shares which do not allow
exercising voting rights for all the matters which may be resolved at a shareholders' meeting,
but including voting rights relating to shares of which holders are deemed to have voting
rights pursuant to the provision of Article 879, paragraph 3 of the Companies Act (Act No. 86
of 2005); hereinafter the same shall apply in this item and item 4 of the next paragraph) and
the number of voting rights specified by Cabinet Order as those indirectly held through
other corporations in the number of voting rights of all shareholders or members of the
corporation is 50% or higher.
those listed in item 1 or 2 (excluding voting rights relating to shares which do not allow
exercising voting rights for all the matters which may be resolved at a shareholders' meeting,
but including voting rights relating to shares of which holders are deemed to have voting
rights pursuant to the provision of Article 879, paragraph 3 of the Companies Act (Act No. 86
of 2005); hereinafter the same shall apply in this item and item 4 of the next paragraph) and
the number of voting rights specified by Cabinet Order as those indirectly held through
other corporations in the number of voting rights of all shareholders or members of the
corporation is 50% or higher.
(iv) In addition to what is listed in the preceding two items, a juridical person or other
organization in which persons as listed in item 1 occupy the majority of either the officers
(meaning directors or other persons equivalent thereto; hereinafter the same shall apply in
this item) or the officers having the power of representation .
organization in which persons as listed in item 1 occupy the majority of either the officers
(meaning directors or other persons equivalent thereto; hereinafter the same shall apply in
this item) or the officers having the power of representation .
Notes
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