P5 News  

Shonan Tax Office No. 155
August 2002
Revision of The Commercial Law

  The revision of the commercial law has become effective since last year, and people are influenced by the revision in many ways. 

  In daily business, we have to be careful about writing documents. For example, we had to write quorum in the beginning of proceedings or records; however, denominations were abolished. In addition, a stock unit was innovated. We need to be careful for that reason. 

  The denomination system was abolished by the revision of the commercial law, and also a stock unit system was innovated in June 2001. 50 yen per stock is sold 1000 stocks, and 500 yen per stock is sold 100 stocks. On the other hand, because of a tock unit system, companies can sell stocks independently. 

  A stock unit system can decide how many they sell one unit of stock. Moreover, a regulation that one unit must be sold more than 50,000 yen abolished. However, one unit must not be over 1000 stocks and one two hundred of all stocks. If a person has a stock unit, he/she has a resolve right. In other word, a person does not have a stock unit or a resolve right.

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