Order on Inward Direct Investment Based on the provisions of Articles 2 to 5 inclusive, Article 8, Article 13 and Article 14 of the Cabinet Order on Inward Direct Investment (Cabinet Order No. 261 of 1980) and in order to implement the provisions of the Foreign Exchange and Foreign Trade Control Act (Act No. 228 of 1949), the Order on Inward Direct Investment is hereby established as follows.

(Purpose) Article 1 The purpose of this Order is to provide for reporting and notification procedures and other necessary matters with regard to inward direct investment, etc. and the conclusion of technology introduction contracts, etc. as prescribed in Chapter V of the Foreign Exchange and Foreign Trade Act (hereinafter referred to as the "Act").

(Matters on the Definition of Inward Direct Investment) Article 2 (1) The amount specified by order of the competent ministry as prescribed in Article 2, paragraph (7), item (i) of the Cabinet Order on Inward Direct Investment (hereinafter referred to as the "Order") is an amount equivalent to 100 million yen. (2) The amount specified by order of the competent ministry as prescribed in Article 2, paragraph (7), item (ii) of the Order is the total of the amount stated in the liabilities section of the balance sheet at the end of the business year immediately preceding the business year during which loans were provided (where there is no such business year, the final balance sheet) and the amount of the loans; provided, however, that where a balance sheet has not been prepared, such amount is the total of the total amount of liabilities in the inventory of assets at the end of the business year immediately preceding the business year during which loans were provided (where there is no such business year, the final inventory of assets) and the amount of the loans. (3) The amount specified by order of the competent ministry as prescribed in Article 2, paragraph (9), item (i), (d), 1. of the Order is an amount equivalent to 100 million yen. (4) The amount specified by order of the competent ministry as prescribed in Article 2, paragraph (9), item (i), (d), 2. of the Order is the total of the amount stated in the liabilities section of the balance sheet at the end of the business year immediately preceding the business year during which bonds were acquired (where there is no such business year, the final balance sheet) and the amount of the relevant bonds that were acquired.

(Notification, etc. of Inward Direct Investment) Article 3 (1) Shares specified by order of the competent ministry as those equivalent to the shares of a listed company, etc. as prescribed in Article 3, paragraph (1), item (iv) of the Order are shares under an invitation for subscription or offering that takes place prior to their listing on a financial instruments exchange as prescribed in Article 2, paragraph (16) of the Financial Instruments and Exchange Act (Act No. 25 of 1948) (limited to the period from the filing of an application for listing until the completion of listing) or prior to their registration with an approved financial instruments firms association as prescribed in paragraph (13) of the same Article (limited to the period from the filing of an application for registration until the completion of registration). (2) Acts specified by order of the competent ministry as prescribed in Article 3, paragraph (1), item (vii) of the Order are the acts listed in the following items: (i) the acquisition, by a person who owns shares or equity in a company prior to its entity conversion, of shares or equity in the company after its entity conversion, in place of the previously owned shares or equity; (ii) the acquisition of loan receivables, bonds, or investment securities that are issued by a juridical person established under a special Act by way of inheritance or as a testamentary gift; (iii) the consent given in regard to the substantial change of the business purpose of a company as prescribed in Article 26, paragraph (2), item (iv) of the Act, where the business purpose of the company after the relevant change does not fall under the business types specified by the Minister of Finance and the minister having jurisdiction over the business (meaning the minister having jurisdiction over the business as prescribed in Article 7 of the Order; the same applies hereinafter) as prescribed in the following paragraph; (iii)-2 the establishment of any branch office, etc. as prescribed in Article 26, paragraph (2), item (v) of the Act, where the business purpose of the branch office, etc. (meaning a branch office, factory, or other offices; the same applies hereinafter) subject to the establishment does not fall under the business types specified by the Minister of Finance and the minister having jurisdiction over the business as prescribed in the following paragraph; (iv) the substantial change in the type or business purpose of a branch office, etc. as prescribed in Article 26, paragraph (2), item (v) of the Act, where the type or business purpose of the branch office, etc. after the relevant change does not fall under the types or business purposes specified by the Minister of Finance and the minister having jurisdiction over the business as prescribed in the following paragraph; (v) the acquisition of shares through an allotment of shares without contribution as prescribed in Article 185 of the Companies Act (Act No. 86 of 2005), or discretionary investment in shares (meaning discretionary investment in shares as prescribed in Article 2, paragraph (10) of the Order; the same applies hereinafter); (vi) the acquisition of shares, equity, bonds, or investment securities issued by a stock company as the consideration for the acquisition of the shares subject to call as prescribed in Article 2, item (xix) of the Companies Act or share options subject to call as prescribed in Article 273, paragraph (1) of the same Act, due to occurrence of grounds for the acquisition of such shares or share options, or discretionary investment in shares; (vii) an act which is listed in Article 26, paragraph (2), item (i), item (iii), item (iv) or item (vi) of the Act or in any item of Article 2, paragraph (9) of the Order and is carried out by a listed company, etc. (meaning a listed company, etc. prescribed in Article 26, paragraph (2), item (i) of the Act; the same applies hereinafter), among those listed in Article 26, paragraph (1), item (iii) of the Act, where all of the ratios of the number of shares of the listed company, etc. directly owned by each shareholder (meaning a foreign juridical person as prescribed in Article 2, paragraph (1) of the Order (hereinafter referred to as a "foreign juridical person, etc.") or other companies prescribed in the same paragraph (excluding a listed company, etc. prescribed in Article 3, paragraph (1), item (vi) of the Order)) of the listed company, etc. (including the number of shares owned by a non-resident individual, juridical person, or any other organization (limited to one that falls under any of those listed in Article 26, paragraph (1), items (ii) to (iv) of the Act) that falls under any of the items of Article 2, paragraph (4) of the Order if the shareholder is deemed to be the acquirer of shares set forth in the same paragraph; the same applies hereinafter) to the total number of issued shares of the listed company, etc. are less than 10%; (viii) an act which is listed in Article 26, paragraph (2), item (i), item (iii), item (iv) or item (vi) of the Act or in any item of Article 2, paragraph (9) of the Order and is carried out by a company other than a listed company, etc., among those listed in Article 26, paragraph (1), item (iii) of the Act, where the shares or equity in the company other than a listed company, etc. is not owned by any foreign juridical person, etc. or any other company prescribed in Article 2, paragraph (1) of the Order (excluding a listed company, etc. prescribed in Article 3, paragraph (1), item (vi) of the Order); (ix) an act which is listed in Article 26, paragraph (2), item (iii) of the Act and constitutes underwriting of securities listed in Article 2, paragraph (8), item (vi) of the Financial Instruments and Exchange Act (excluding such act relating to paragraph (6), item (iii) of the same Article) (including an equivalent act under the provisions of foreign laws and regulations) (in the case of inward direct investment, etc. listed in the items of Article 3, paragraph (2) of the Order, limited to the case where the voting rights attached to the shares acquired by the act are not exercised). (3) Business types specified by order of the competent ministry as prescribed in Article 3, paragraph (2), item (i) of the Order are the business types specified by the Minister of Finance and the minister having jurisdiction over the business. (4) The company specified by order of the competent ministry as prescribed in Article 3, paragraph (2), item (i) of the Order is any other company (limited to those with two or more shareholders or members) in which a number of voting rights that is equivalent to 50% of the number of voting rights of all of the shareholders or members is held by the relevant company (including its subsidiary companies (meaning subsidiary companies as prescribed in Article 2, item (iii) of the Companies Act; hereinafter the same applies in this paragraph)). (5) Inward direct investment, etc. specified by order of the competent ministry as prescribed in Article 3, paragraph (2), item (ii) of the Order is inward direct investment, etc. made by a foreign investor in a country other than the countries (including regions; the same applies hereinafter) listed in Appended Table 1 (excluding inward direct investment, etc. made by a foreign investor who falls under Article 26, paragraph (1), item (iii) or item (iv)). (6) Inward direct investment, etc. specified by order of the competent ministry as prescribed in Article 3, paragraph (2), item (iii) of the Order is inward direct investment, etc. that is specified by the Minister of Finance and the minister having jurisdiction over the business. (7) A person who intends to give a notification based on the provisions of Article 3, paragraph (3) of the Order must, in accordance with the categories listed in each of the following items, submit a written notification to the Minister of Finance and the minister having jurisdiction over the business, via the Bank of Japan, using the form specified in the relevant item. In this case, the number of copies of the written notification that must be submitted is the number of ministers having jurisdiction over the business plus three: (i) acquisition of shares or equity as prescribed in Article 26, paragraph (2), item (i) and item (iii) of the Act, acquisition of investment securities as prescribed in Article 2, paragraph (9), item (ii) of the Order, and discretionary investment in shares as prescribed in item (iii) of the same paragraph: Appended Form 1; (ii) transfer of shares or equity as prescribed in Article 26, paragraph (2), item (ii) of the Act: Appended Form 2; (iii) consent given in regard to the substantial change of the business purpose of a company as prescribed in Article 26, paragraph (2), item (iv) of the Act: Appended Form 3; (iv) establishment of a branch office, etc. as prescribed in Article 26, paragraph (2), item (v) of the Act: Appended Form 4; (v) a substantial change in the type or business purpose of a branch office, etc. as prescribed in Article 26, paragraph (2), item (v) of the Act: Appended Form 5; (vi) loans of money as prescribed in Article 26, paragraph (2), item (vi) of the Act: Appended Form 6; (vii) acquisition of bonds as prescribed in Article 2, paragraph (9), item (i) of the Order: Appended Form 7. (8) When the Minister of Finance and the minister having jurisdiction over the business have received written notifications pursuant to the provisions of the preceding paragraph, they are to note to that effect on the written notifications and deliver one copy thereof as a certificate of their receipt of the notification to the person who gave the notification. (9) A person who intends to give a notice as prescribed in Article 27, paragraph (7) of the Act based on the provisions of Article 3, paragraph (14) of the Order must submit a written notice prepared using Appended Form 8 to the Minister of Finance and the minister having jurisdiction over the business, via the Bank of Japan. In this case, the number of copies of the written notice that must be submitted is the number of ministers having jurisdiction over the business plus one.

Article 4 Deleted.

(Notification of the Conclusion of a Technology Introduction Contract) Article 5 (1) Technology specified by order of the competent ministry as prescribed in Article 5, paragraph (1), item (i) of the Order is the technology listed in Appended Table 2. (2) A resident who intends to give a notification based on the provisions of Article 5, paragraph (2) of the Order must submit a written notification prepared using Appended Form 9 to the Minister of Finance and the minister having jurisdiction over the business, via the Bank of Japan. In this case, the provisions of the second sentence of Article 3, paragraph (7) apply mutatis mutandis. (3) When the Minister of Finance and the minister having jurisdiction over the business have received written notifications pursuant to the provisions of the preceding paragraph, they are to note to that effect on the written notifications and deliver one copy thereof as a certificate of their receipt of the notification to the person who gave the notification. (4) A person who intends to give a notice as prescribed in Article 27, paragraph (7) of the Act as applied mutatis mutandis pursuant to Article 30, paragraph (7) of the Act based on the provisions of Article 5, paragraph (9) of the Order must submit a written notice prepared using Appended Form 10 to the Minister of Finance and the minister having jurisdiction over the business, via the Bank of Japan. In this case, the provisions of the second sentence of Article 3, paragraph (9) apply mutatis mutandis.

Article 6 Deleted.

(Report of Inward Direct Investment) Article 6-2 A person who intends to make a report based on the provisions of Article 6-3, paragraph (1) of the Order must, in accordance with the categories listed in each of the following items, submit a written report to the Minister of Finance and the minister having jurisdiction over the business via the Bank of Japan, using the form specified in the relevant item. In this case, the number of copies of the written report that must be submitted is the number of ministers having jurisdiction over the business plus one: (i) acquisition of shares or equity as prescribed in Article 26, paragraph (2), item (i) or item (iii) of the Act and acquisition of investment securities as prescribed in Article 2, paragraph (9), item (ii) of the Order, and the discretionary investment in shares as prescribed in item (iii) of the same paragraph: Appended Form 11; (ii) transfer of shares or equity as prescribed in Article 26, paragraph (2), item (ii) of the Act: Appended Form 12; (iii) loans of money as prescribed in Article 26, paragraph (2), item (vi) of the Act: Appended Form 16; (iv) acquisition of bonds as prescribed in Article 2, paragraph (9), item (i) of the Order: Appended Form 17.

(Report on the Conclusion of a Technology Introduction Contract) Article 6-3 A resident who intends to make a report based on the provisions of Article 6-4, paragraph (1) of the Order must submit a written report prepared using Appended Form 18 to the Minister of Finance and the minister having jurisdiction over the business, via the Bank of Japan. In this case, the provisions of the second sentence of the preceding Article apply mutatis mutandis.

(Report Based on the Provisions of Article 6-5 of the Order) Article 7 (1) If a person who has given a notification under Article 27, paragraph (1) of the Act has taken any of the actions listed in the following items, the person must, in accordance with the category of the act, submit a written report prepared using the form specified in the relevant item to the Minister of Finance and the minister having jurisdiction over the business via the Bank of Japan, within 30 days from the day on which the person took the action. In this case, the number of copies of the written report that must be submitted is the number of ministers having jurisdiction over the business plus one: (i) the acquisition of the shares or equity (including investment securities that are issued by a juridical person established under a special Act) pertaining to the relevant notification, or discretionary investment in the shares; or the disposition of all or part of the shares or equity after the shares or equity have been acquired or after the discretionary investment in shares has been carried out: Appended Form 19; (ii) loans of money or the acquisition of claims pertaining to the relevant notification, or the receipt of a refund or the redemption (including the case where a prepayment or early redemption has been received) of all or part of the principal on the loans or claims after the loans have been provided or after the claims have been acquired: Appended Form 20; (iii) suspension of the establishment of a branch office, etc. pertaining to the relevant notification (excluding suspension resulting from a recommendation or an order to suspend inward direct investment, etc. based on the provisions of Article 27, paragraph (7) or paragraph (10) of the Act) or abolition of the branch office, etc.: Appended Form 22. (2) If the ratio of the number of shares of a listed company, etc. that a person who has carried out an act listed in Article 3, paragraph (2), item (ix) has come to own on the day following the day on which the person acquired the shares of the listed company, etc. involved in the act to the total number of issued shares of the listed company, etc. comes to be 10% or more, the person must, with regard to the shares of the listed company, etc. that the person has come to own, submit a written report prepared using Appended Form 11 to the Minister of Finance and the minister having jurisdiction over the business via the Bank of Japan, by the 15th day of the month following the month in which the date of the act falls. In this case, the number of copies of the written report that must be submitted is the number of ministers having jurisdiction over the business plus one. (3) If the ratio of the number of shares of a listed company, etc. owned by a person who has submitted a report as prescribed in the preceding paragraph (limited to the case where the acquisition of shares of a listed company, etc. addressed in the report constitutes inward direct investment, etc. listed in the items of Article 3, paragraph (2) of the Order) to the total number of issued shares of the listed company, etc. comes to be less than 10%, the person must, with regard to the status of the person's ownership of the shares of the listed company, etc., submit a written report prepared using Appended Form 19 to the Minister of Finance and the minister having jurisdiction over the business via the Bank of Japan, within 30 days from the date of the occurrence of the event concerned. In this case, the number of copies of the written report that must be submitted is the number of ministers having jurisdiction over the business plus one. (4) The Minister of Finance and the minister having jurisdiction over the business are to, where they request the submission of a report as prescribed in Article 6-5, paragraph (1) of the Order, in addition to the case where they request the submission of a report in the form of a written report prescribed in the preceding three paragraphs, designate the matters to be reported and notify the persons prescribed in the same paragraph or the relevant persons thereof. (5) The procedures specified by order of the competent ministry, referred to in Article 6-5, paragraph (2) of the Order, include the location for the relevant person to submit a written report containing the matters designated as prescribed in paragraph (1) of the same Article, the number of copies of the written report for the person to submit, and other procedures specified by the Minister of Finance and the minister having jurisdiction over the business. (6) The Minister of Finance and the minister having jurisdiction over the business are to, when they give notice as prescribed in paragraph (4), give notice of the procedures as prescribed in the preceding paragraph as well.

(Notice on the Shortening of a Period) Article 8 When the Minister of Finance and the minister having jurisdiction over the business shorten the period during which transactions or acts may not be carried out pursuant to the proviso to Article 27, paragraph (2) and paragraph (4) of the Act or the proviso to Article 30, paragraph (2) and paragraph (4) of the Act, they are to shorten the period by way of noting the shortened period on the certificate of receipt of the notification as prescribed in Article 3, paragraph (8) or Article 5, paragraph (3) and delivering the certificate of receipt of the notification to the person who gave the notification, or by way of delivering a written notice in which the shortened period is noted to the person who gave the notification.

(Notice of the Rescission of a Recommendation or Order) Article 9 (1) When the Minister of Finance and the minister having jurisdiction over the business rescind, based on the provisions of Article 27, paragraph (11) of the Act, the whole or a part of a recommendation or order issued to a person who has submitted a notice of the acceptance of the recommendation to change the content of the inward direct investment, etc. pursuant to paragraph (7) of the same Article or a person who has been ordered to change the content of the inward direct investment, etc. pursuant to paragraph (10) of the same Article, they are to rescind such recommendation or order by way of delivering a written notice in which the details of the rescission are noted to the person who has submitted a notice of the acceptance or the person who has been ordered to make the change. (2) The provisions of the preceding paragraph apply mutatis mutandis to the rescission of the whole or part of a recommendation or order as prescribed in Article 5, paragraph (7) of the Order based on the provisions of Article 27, paragraph (11) of the Act as applied mutatis mutandis pursuant to Article 30, paragraph (7) of the Act.

(Delegation of Administrative Affairs) Article 10 (1) Administrative affairs that the Minister of Finance and the minister having jurisdiction over the business personally carry out based on the proviso to Article 10 of the Order are administrative affairs in connection with the receipt of notices and reports under the provisions of Article 7, paragraphs (4) to (6). (2) Administrative Affairs specified by the Minister of Finance and the minister having jurisdiction over the business as prescribed in Article 10, item (ii) of the Order are the following administrative affairs: (i) administrative affairs involving noting on a certificate of receipt of the notification, on the day following the date on which two weeks have passed from the date of receipt of a notification as prescribed in Article 27, paragraph (1) or Article 30, paragraph (1) of the Act, to the effect that transactions or acts pertaining to the notification may be carried out from the day; provided, however, that these administrative affairs are excluded where the Minister of Finance and the minister having jurisdiction over the business have found a need for examination and notified the Bank of Japan that the period will not be shortened; (ii) beyond the administrative affairs listed in the preceding item, where the Minister of Finance and the minister having jurisdiction over the business have indicated otherwise, administrative affairs involving noting the shortened period on a certificate of receipt of the notification on the day that they have indicated.

Supplementary Provisions (1) This Order comes into effect as of the date of enforcement of the Act for the Partial Revision of the Foreign Exchange and Foreign Trade Control Act (Act No. 65 of 1979) (December 1, 1980). (2) The following Ministerial Orders are hereby abolished: (i) Rule for Enforcement of the Act on Foreign Capital (Foreign Investment Commission Rule No. 2 of 1950); (ii) Order Specifying the Cases of Acquisition of Shares or Equity by Foreign Investors That Are Deemed to Be Investment Activities (Order of the Ministry of Finance, Ministry of Health and Welfare, Ministry of Agriculture, Forestry and Fisheries, Ministry of International Trade and Industry, Ministry of Transport, Ministry of Posts and Telecommunications and Ministry of Construction No. 1 of 1967); (iii) Order Specifying the Scope of Affairs to Be Handled by the Bank of Japan Pursuant to the Provisions of the Act on Foreign Capital (Order of the Ministry of Finance, Ministry of Health and Welfare, Ministry of Agriculture, Forestry and Fisheries, Ministry of International Trade and Industry, Ministry of Transport, Ministry of Posts and Telecommunications and Ministry of Construction No. 2 of 1967); (iv) Order on Approval, etc. of Ownership of Shares Pertaining to Foreign Investors in Line with the Reversion of Okinawa (Order of the Ministry of Finance, Ministry of Health and Welfare, Ministry of Agriculture, Forestry and Fisheries, Ministry of International Trade and Industry, Ministry of Transport, Ministry of Posts and Telecommunications and Ministry of Construction No. 2 of 1972). (3) For transactions or acts pertaining to any application or notification that has been made pursuant to the provisions of Article 10, Article 11, paragraph (1), Article 12, paragraph (1), Article 13, paragraph (1), Article 13-2, or Article 13-3 of the Act on Foreign Capital prior to its abolition by the Act for the Partial Revision of the Foreign Exchange and Foreign Trade Control Act (the Act on Foreign Capital [Act No. 163 of 1950] so abolished is hereinafter referred to as the "Former Foreign Capital Act") as of the time of the enforcement of this Order, the Rule for Enforcement of the Act on Foreign Capital prior to its abolition by this Order (the Rule for Enforcement of the Act on Foreign Capital so abolished is hereinafter referred to as the "Former Rule for Enforcement"), the Order Specifying the Cases of Acquisition of Shares or Equity by Foreign Investors That Are Deemed to Be Investment Activities, and the Order Specifying the Scope of Affairs to Be Handled by the Bank of Japan Pursuant to the Provisions of the Act on Foreign Capital remain in force even after the enforcement of this Order. (4) For shares, etc. as prescribed in Article 13-2 of the Former Foreign Capital Act or consideration, etc. or the right to consideration, etc. as prescribed in Article 13-3 of the Former Foreign Capital Act for which the date of acquisition is prior to the date of enforcement of this Order, the provisions of Article 7, Article 8 and Article 14 of the Former Rule for Enforcement remain in force even after the enforcement of this Order. Supplementary Provisions This Order comes into effect as of October 1, 1981. Supplementary Provisions This Order comes into effect as of the date of enforcement of the provisions of Article 5 of the Act for the Partial Revision of the Act on Measures Accompanying the Accession to the International Monetary Fund and International Bank for Reconstruction and Development for the Purpose of Forming a Harmonized Foreign Economic Relationship (July 1, 1984). Supplementary Provisions This Order comes into effect as of July 1, 1985. Supplementary Provisions This Order comes into effect as of December 1, 1985. Supplementary Provisions This Order comes into effect as of the date of its promulgation. Supplementary Provisions This Order comes into effect as of the date of enforcement of the Act for the Partial Revision of the Foreign Exchange and Foreign Trade Control Act (January 1, 1992). Supplementary Provisions

(Effective Date) Article 1 This Order comes into effect as of the date of its promulgation.

(Transitional Measures) Article 2 Except for what is provided for in paragraph (2) of the following Article, for inward direct investment, etc. pertaining to a notification that has been given prior to the date of enforcement of this Order (hereinafter referred to as the "enforcement date") pursuant to the provisions of Article 27, paragraph (1) of the Foreign Exchange and Foreign Trade Control Act (hereinafter referred to as the "Act") (the inward direct investment, etc. is hereinafter referred to as the "inward direct investment, etc. pertaining to a notification prior to the enforcement date") with regard to which the period during which inward direct investment, etc. may not be made as prescribed in paragraph (2) of the same Article (where the period has been extended pursuant to the provisions of paragraph (3) or paragraph (6) of the same Article, the extended period) has expired prior to the enforcement date, the provisions then in force remain applicable.

Article 3 (1) For inward direct investment, etc. pertaining to a notification prior to the enforcement date with regard to which the period during which inward direct investment, etc. may not be carried out as prescribed in Article 27, paragraph (2) of the Act has not expired as of the time of the enforcement of this Order, and that falls under the category of inward direct investment, etc. that is to be reported pursuant to the provisions of Article 26, paragraph (3) of the Act due to the relevance to Appended Table 1 of the Order on Inward Direct Investment after its revision by this Order, the period may be deemed to have expired on the day preceding the enforcement date, and the foreign investor who has given the notification may carry out the inward direct investment, etc. on or after the enforcement date. In this case, the notification is deemed to be a report that was made pursuant to the provisions of the main clause of the same paragraph on the day on which the inward direct investment, etc. was carried out. (2) For inward direct investment, etc. pertaining to a recommendation as prescribed in Article 27, paragraph (5) of the Act, a notice as prescribed in paragraph (7) of the same Article, or an order as prescribed in paragraph (10) of the same Article that has been given prior to the enforcement date, the provisions then in force remain applicable.

(Transitional Measures Concerning Penal Provisions) Article 4 For the application of penal provisions to acts committed prior to the enforcement of this Order and acts committed after the enforcement of this Order in connection with transactions or acts to which the provisions then in force are to remain applicable pursuant to the provisions of these Supplementary Provisions, the provisions then in force remain applicable.

Supplementary Provisions

(Effective Date) Article 1 This Order comes into effect as of the date of enforcement of the Act for the Partial Revision of the Foreign Exchange and Foreign Trade Control Act (April 1, 1998).

(Transitional Measures) Article 2 Except for what is provided for in paragraph (2) of the following Article, for inward direct investment, etc. pertaining to a notification that has been given prior to the date of enforcement of this Order (hereinafter referred to as the "enforcement date") pursuant to the provisions of Article 27, paragraph (1) of the Foreign Exchange and Foreign Trade Control Act prior to its revision by the Act for the Partial Revision of the Foreign Exchange and Foreign Trade Control Act (the Foreign Exchange and Foreign Trade Control Act prior to its revision is hereinafter referred to as the "Former Act") (the inward direct investment, etc. is hereinafter referred to as the "inward direct investment, etc. pertaining to a notification prior to the enforcement date") with regard to which the period during which inward direct investment, etc. may not be made as prescribed in paragraph (2) of the same Article (where the period has been extended pursuant to the provisions of paragraph (3) or paragraph (6) of the same Article, the extended period) has expired prior to the enforcement date, the provisions then in force remain applicable.

Article 3 (1) For inward direct investment, etc. pertaining to a notification prior to the enforcement date with regard to which the period during which inward direct investment, etc. may not be carried out as prescribed in Article 27, paragraph (2) of the Former Act has not expired as of the time of the enforcement of this Order, and that falls under the category of inward direct investment, etc. that is to be reported pursuant to the provisions of Article 55-5, paragraph (1) of the Foreign Exchange and Foreign Trade Act after its revision by the Act for the Partial Revision of the Foreign Exchange and Foreign Trade Control Act (the Foreign Exchange and Foreign Trade Act so revised is hereinafter referred to as the "New Act") due to the relevance to a business type specified by the Minister of Finance and the minister having jurisdiction over the business pursuant to Article 3, paragraph (3) of the Order on Inward Direct Investment after its revision by this Order (the Order on Inward Direct Investment so revised is hereinafter referred to as the "New Order") or a country listed in Appended Table 1 as prescribed in paragraph (4) of the same Article, the period may be deemed to have expired on the day preceding the enforcement date, and the foreign investor who has given the notification may carry out the inward direct investment, etc. on or after the enforcement date. In this case, the notification is deemed to be a report that was made pursuant to the provisions of the main clause of the same paragraph on the day on which the inward direct investment, etc. was carried out. (2) For inward direct investment, etc. pertaining to a recommendation as prescribed in Article 27, paragraph (5) of the Former Act, a notice as prescribed in paragraph (7) of the same Article, or an order as prescribed in paragraph (10) of the same Article that has been given prior to the enforcement date, the provisions then in force remain applicable.

Article 4 The provisions of Article 3, paragraph (2), items (iii) and (iv) of the New Order apply to consent given in regard to the substantial change of the business purpose of a company as prescribed in Article 26, paragraph (2), item (iv) of the New Act and any substantial change in the type or business purpose of the branch offices, etc. in Japan as prescribed in item (v) of the same paragraph (hereinafter referred to as the "consent given in regard to the substantial change of the business purpose of a company, etc." in this Article), that was given or made after the enforcement date, and with regard to consent given in regard to the substantial change of the business purpose of a company, etc. prior to the same date, the provisions then in force remain applicable.

Article 5 With regard to written notices, etc. that are to be prepared using Appended Forms 1 to 22 inclusive of this Order, Appended Forms 8 to 15 inclusive, Appended Form 17, Appended Form 18, Appended Forms 1 to 7 inclusive, Appended Form 16, and Appended Forms 19 to 22 inclusive from prior to their revision by this Order may be corrected accordingly and used as written notices until otherwise provided for by law.

(Transitional Measures Concerning Penal Provisions) Article 6 For the application of penal provisions to acts committed prior to the enforcement of this Order and acts committed after the enforcement of this Order in connection with matters to which the provisions then in force are to remain applicable pursuant to the provisions of these Supplementary Provisions, the provisions then in force remain applicable.

Supplementary Provisions

(Effective Date) Article 1 This Order comes into effect as of the date of its promulgation; provided, however, that the provisions that add item 159 to Appended Table 1 come into force as of the day on which the Agreement Between the Government of Japan and the Government of the Russian Federation Concerning the Promotion and Protection of Investments takes effect (May 27, 2000).

(Transitional Measures) Article 2 Except for what is provided for in paragraph (2) of the following Article, for inward direct investment, etc. pertaining to a notification that has been given prior to the date of enforcement of this Order (hereinafter referred to as the "enforcement date") pursuant to the provisions of Article 27, paragraph (1) of the Foreign Exchange and Foreign Trade Act (hereinafter referred to as the "Act") (the inward direct investment, etc. is hereinafter referred to as the "inward direct investment, etc. pertaining to a notification prior to the enforcement date") with regard to which the period during which inward direct investment, etc. may not be carried out as prescribed in paragraph (2) of the same Article (where the period has been extended pursuant to the provisions of paragraph (3) or paragraph (6) of the same Article, the extended period) has expired prior to the enforcement date, the provisions then in force remain applicable.

Article 3 (1) For inward direct investment, etc. pertaining to a notification prior to the enforcement date with regard to which the period during which inward direct investment, etc. may not be carried out as prescribed in Article 27, paragraph (2) of the Act has not expired as of the time of the enforcement of this Order, and that falls under the category of inward direct investment, etc. that is to be reported pursuant to the provisions of Article 55-5, paragraph (1) of the Act due to the relevance to a country listed in Appended Table 1 of the Order on Inward Direct Investment after its revision by this Order, the period may be deemed to have expired on the day preceding the enforcement date, and the foreign investor who has given the notification may carry out the inward direct investment, etc. on or after the enforcement date. In this case, the notification is deemed to be a report that was made pursuant to the provisions of the main clause of the same paragraph on the on which the inward direct investment, etc. was carried out. (2) For inward direct investment, etc. pertaining to a recommendation as prescribed in Article 27, paragraph (5) of the Act, a notice as prescribed in paragraph (7) of the same Article, or an order prescribed in paragraph (10) of the same Article that has been given prior to the enforcement date, the provisions then in force remain applicable.

(Transitional Measures Concerning Penal Provisions) Article 4 For the application of penal provisions to acts committed prior to the enforcement of this Order and acts committed after the enforcement of this Order in connection with matters to which the provisions then in force are to remain applicable pursuant to the provisions of these Supplementary Provisions, the provisions then in force remain applicable.

Supplementary Provisions (1) This Order comes into effect as of the date of enforcement of the Act for the Partial Revision of the Cabinet Act (Act No. 88 of 1999) (January 6, 2001). (2) With regard to written notices that are to be prepared using Appended Forms 1 to 7 inclusive and Appended Form 9 of this Order, Appended Forms 1 to 7 inclusive and Appended Form 9 from prior to their revision by this Order may be corrected accordingly and used as written notices until otherwise provided for by law. Supplementary Provisions This Order comes into effect as of the date of its promulgation. Supplementary Provisions This Order comes into effect as of the date of its promulgation. Supplementary Provisions

(Effective Date) Article 1 This Order comes into effect as of the date of its promulgation.

(Transitional Measures) Article 2 Except for what is provided for in paragraph (2) of the following Article, for inward direct investment, etc. pertaining to a notification that has been given prior to the date of enforcement of this Order (hereinafter referred to as the "enforcement date") pursuant to the provisions of Article 27, paragraph (1) of the Foreign Exchange and Foreign Trade Act (hereinafter referred to as the "Act") (the inward direct investment, etc. is hereinafter referred to as the "inward direct investment, etc. pertaining to a notification prior to the enforcement date") with regard to which the period during which inward direct investment, etc. may not be carried out as prescribed in paragraph (2) of the same Article (where the period has been extended pursuant to the provisions of paragraph (3) or paragraph (6) of the same Article, the extended period) has expired prior to the enforcement date, the provisions then in force remain applicable.

Article 3 (1) For inward direct investment, etc. pertaining to a notification prior to the enforcement date with regard to which the period during which inward direct investment, etc. may not be carried out as prescribed in Article 27, paragraph (2) of the Act has not expired as of the time of the enforcement of this Order, and that falls under the category of inward direct investment, etc. that is to be reported pursuant to the provisions of Article 55-5, paragraph (1) of the Act due to the relevance to a country listed in Appended Table 1 of the Order on Inward Direct Investment after its revision by this Order, the period may be deemed to have expired on the day preceding the enforcement date, and the foreign investor who has given the notification may carry out the inward direct investment, etc. on or after the enforcement date. In this case, the notification is deemed to be a report that was made pursuant to the provisions of the main clause of the same paragraph on the day on which the inward direct investment, etc. was carried out. (2) For inward direct investment, etc. pertaining to a recommendation as prescribed in Article 27, paragraph (5) of the Act, a notice as prescribed in paragraph (7) of the same Article, or an order as prescribed in paragraph (10) of the same Article that has been given prior to the enforcement date, the provisions then in force remain applicable.

(Transitional Measures Concerning Penal Provisions) Article 4 For the application of penal provisions to acts committed prior to the enforcement of this Order and acts committed after the enforcement of this Order in connection with matters to which the provisions then in force are to remain applicable pursuant to the provisions of these Supplementary Provisions, the provisions then in force remain applicable.

Supplementary Provisions (1) This Order comes into effect as of April 1, 2002. (2) With regard to written notices, etc. that are to be prepared using Appended Form 7 and Appended Form 17 of this Order, Appended Form 7 and Appended Form 17 from prior to their revision by this Order may be corrected accordingly and used as written notices until otherwise provided for by law. Supplementary Provisions This Order comes into effect as of October 1, 2002. Supplementary Provisions

(Effective Date) Article 1 This Order comes into for as of April 1, 2003; provided, however, that the part of the provisions revising Appended Form 7 and Appended Form 17 that revises "convertible bonds and bonds with preemptive rights" to "bonds with share options, etc." comes into effect as of January 1, 2005.

(Transitional Measures) Article 2 With regard to written notices, etc. that are to be prepared using Appended Forms 1 to 3 inclusive, Appended Forms 6 and 7, Appended Form 9, Appended Forms 11 to 13 inclusive, Appended Forms 16 to 18 inclusive, and Appended Form 20 after their revision by this Order, Appended Forms from prior to their revision by this Order may be corrected accordingly and used as written notices until otherwise provided for by law.

Supplementary Provisions This Order comes into effect as of April 1, 2004. Supplementary Provisions This Order comes into effect as of the date of enforcement of the Companies Act (May 1, 2006). Supplementary Provisions This Order comes into effect as of the date of enforcement of the Act for the Partial Revision of the Securities and Exchange Act. Supplementary Provisions

(Effective Date) Article 1 This Order comes into effect as of September 28, 2007.

Supplementary Provisions

(Effective Date) Article 1 This Order comes into effect as of June 23, 2009; provided, however, that the provisions of Article 3 of the Supplementary Provisions come into effect as of the date of promulgation.

(Transitional Measures) Article 2 Except for what is provided for in the following Article, the provisions of the Order on Inward Direct Investment as revised (hereinafter referred to as the "New Order") apply to inward direct investment, etc. prescribed in Article 26, paragraph (2) of the Foreign Exchange and Foreign Trade Act which is made on or after the date of enforcement of this Order (hereinafter referred to as the "enforcement date" in this Article) and to which a notification under the provisions of Article 27, paragraph (1) of the same Act and a report under the provisions of Article 55-5, paragraph (1) of the same Act pertain, and to any act listed in the items of Article 7, paragraph (1) of the New Order which is made on or after the enforcement data and to which a report under the provisions of Article 6-5, paragraph (2) of the Cabinet Order on Inward Direct Investment (hereinafter referred to as the "Order" in this Article) pertains, and with regard to such inward direct investment, etc. which has been made before the enforcement date and any act listed in the items of Article 7, paragraph (1) of the Order on Inward Direct Investment prior to the revision (referred to as the "Former Order" in Article 4 of the Supplementary Provisions) which has been made before the enforcement date and to which a report under the provisions of Article 6-5, paragraph (2) of the Order pertains, the provisions then in force remain applicable.

Article 3 When a notification is to be given under the provisions of Article 3, paragraph (1) of the Supplementary Provisions of the Cabinet Order for the Partial Revision of the Cabinet Order on Inward Direct Investment (Cabinet Order No. 146 of 2009), matters concerning such notification are as provided in the New Order.

Article 4 With regard to written notifications that are to be prepared using Appended Forms 4 and 5 of the New Order, Appended Forms 4 and 5 of the Former Order may be corrected accordingly and used as written notifications until otherwise provided for by law.

Article 5 For the application of penal provisions to acts committed prior to the enforcement of this Order and acts committed after the enforcement of this Order in connection with matters to which the provisions then in force are to remain applicable pursuant to the provisions of Article 2 of the Supplementary Provisions, the provisions then in force remain applicable.

Supplementary Provisions

(Effective Date) Article 1 This Order comes into effect as of April 1, 2010; provided, however, that the provisions of Article 2 come into effect as of the date of promulgation.

(Transitional Measures) Article 2 With regard to written notifications that are to be prepared using Appended Forms 1, 2, 6, and 7 of the Order on Inward Direct Investment as revised by this Order, Appended Forms 1, 2, 6, and 7 of the Order on Inward Direct Investment prior to the revision by this Order may be corrected accordingly and used as written notifications until otherwise provided for by law.

Supplementary Provisions

(Effective Date) Article 1 This Order comes into effect as of the date of promulgation.

(Transitional Measures) Article 2 The provisions of this Order apply to inward direct investment, etc. prescribed in Article 26, paragraph (2) of the Foreign Exchange and Foreign Trade Act which is made on or after the date of enforcement of this Order, and with regard to such inward direct investment, etc. which has been made before the same date, the provisions then in force remain applicable.

Article 3 For the application of penal provisions to acts committed prior to the enforcement of this Order and acts committed after the enforcement of this Order in connection with matters to which the provisions then in force are to remain applicable pursuant to the provisions of the preceding Article, the provisions then in force remain applicable.

Article 4 With regard to written notifications that are to be prepared using Appended Forms 1 and 2 as revised by this Order, Appended Forms 1 and 2 prior to the revision by this Order may be corrected accordingly and used as written notifications until otherwise provided for by law.

Supplementary Provisions

(Effective Date) Article 1 This Order comes into effect as of the date of promulgation.

(Transitional Measures) Article 2 With regard to inward direct investment, etc. prescribed in Article 26, paragraph (2) of the Foreign Exchange and Foreign Trade Act which has been made on or before the date of enforcement of this Order, the provisions then in force remain applicable.

Article 4 With regard to reports that are to be prepared using Appended Forms 11 and 19 as revised by this Order, Appended Forms 11 and 19 prior to the revision by this Order may be corrected accordingly and used as written notifications until otherwise provided for by law.

Appended Table 1 (Re: Art. 3) 1 Iceland 2 Ireland 3 United States of America 4 United Arab Emirates 5 Algeria 6 Argentina 7 Albania 7-2 Armenia 8 Angola 9 Antigua and Barbuda 10 Israel 11 Italy 12 Iran 13 India 14 Indonesia 15 Uganda 15-2 Ukraine 16 Uruguay 17 United Kingdom 18 Ecuador 19 Egypt 20 Estonia 21 Ethiopia 22 El Salvador 23 Australia 24 Austria 25 Oman 26 Netherlands 27 Ghana 28 Guyana 29 Qatar 30 Canada 31 Gabon 32 Cameroon 33 Gambia 34 Cambodia 35 Guinea 36 Guinea-Bissau 37 Cyprus 38 Cuba 39 Greece 40 Kyrgyzstan 41 Guatemala 42 Kuwait 43 Deleted 44 Grenada 45 Croatia 46 Kenya 47 Cote d'Ivoire 48 Costa Rica 49 Colombia 50 Republic of Congo 51 Democratic Republic of Congo 52 Saudi Arabia 53 Samoa 54 Zambia 55 Sierra Leone 56 Djibouti 57 Jamaica 57-2 Georgia 58 Syria 59 Singapore 60 Zimbabwe 61 Switzerland 62 Sweden 63 Sudan 64 Spain 65 Suriname 66 Sri Lanka 67 Slovakia 68 Slovenia 69 Swaziland 70 Senegal 71 St. Christopher and Nevis 72 St. Vincent 73 St. Lucia 74 Solomon 75 Thailand 76 Republic of Korea 77 Taiwan 78 Tanzania 79 Czech Republic 80 Chad 81 Central Africa 82 People's Republic of China 83 Tunisia 84 Chile 85 Denmark 86 Germany 87 Togo 88 Dominica 89 Dominican Republic 90 Trinidad and Tobago 91 Turkey 91-2 Tonga 92 Nigeria 93 Nauru 94 Namibia 95 Nicaragua 96 Niger 97 New Zealand 98 Nepal 99 Norway 100 Bahrain 101 Haiti 102 Pakistan 103 Panama 104 Vanuatu 105 Bahamas 106 Papua New Guinea 107 Paraguay 108 Barbados 109 Hungary 110 Bangladesh 111 Fiji 112 Philippines 113 Finland 114 Bhutan 115 Brazil 116 France 117 Bulgaria 118 Burkina Faso 119 Brunei 120 Burundi 121 Vietnam 122 Benin 123 Venezuela 124 Belize 125 Peru 126 Belgium 127 Poland 128 Botswana 129 Bolivia 130 Portugal 131 Hong Kong 132 Honduras 133 Marshall 134 Macau 135 Former Yugoslav Republic of Macedonia 136 Madagascar 137 Malawi 138 Mali 139 Malta 140 Malaysia 141 Micronesia 142 Republic of South Africa 143 Myanmar 144 Mexico 145 Mauritius 146 Mauritania 147 Mozambique 148 Monaco 149 Maldives 150 Moldova 151 Morocco 152 Mongolia 153 Jordan 154 Laos 155 Latvia 156 Lithuania 157 Liechtenstein 158 Romania 159 Luxembourg 160 Rwanda 161 Lesotho 162 Lebanon 163 Russia

Appended Table 2 (Re: Art. 5) Technology (1) Aircraft technology that falls under either of the following categories (a) Technology related to the design, manufacture, or use of aircraft (b) Technology related to the design, manufacture, or use of any aircraft parts or auxiliary equipment (2) Weapons technology that falls under any of the following categories (a) Technology related to the design, manufacture, or use of weapons (b) Technology related to the design, manufacture, or use of any weapons parts or accessories (c) Technology related to the manufacture of electronic equipment for military use (3) Explosives manufacturing technology (4) Nuclear power technology that falls under any of the following categories (a) Technology related to the design, manufacture, or use of nuclear reactors (including nuclear fusion reactors; the same applies hereinafter) or their parts, auxiliary equipment, components, nuclear turbines, or nuclear power generators (b) Technology related to thedesign, manufacture, use, or reprocessing of nuclear fuel, or technology related to the design or manufacture of equipment used therefor (c) Technology related to the design, manufacture, or use of radiation generators, technology related to the use or processing of radioactive substances, or technology related to the design or manufacture of equipment used therefor (d) Technology related to the use of nuclear reactions by means other than nuclear reactors (5) TSpace development technology that falls under any of the following categories (a) Technology related to the design, manufacture, or use of spacecraft (excluding meteorological sounding rockets; the same applies hereinafter) or equipment specially designed for the launching, guidance control, tracking, or use of spacecraft, or the parts, auxiliary equipment, or materials thereof (b) Technology related to the design, manufacture, or use of test equipment specially designed for the development of spacecraft or the parts, auxiliary equipment, or materials thereof (c) Technology related to the design, manufacture or use of the thrust source of spacecraft