{"id":41419,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/articles-of-incorporation-sony.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"articles-of-incorporation-sony","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/formation\/articles-of-incorporation-sony.html","title":{"rendered":"Articles of Incorporation – Sony"},"content":{"rendered":"

(TRANSLATION)<\/em>ARTICLES OF INCORPORATION<\/strong>SONY
\nCORPORATION<\/strong><\/p>\n

\n

\n<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Enacted:<\/p>\n<\/td>\n

<\/td>\n\n

April 19, 1946<\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/tr>\n
\n

Amended:<\/p>\n<\/td>\n

<\/td>\n\n

August 3, 1946<\/p>\n<\/td>\n

<\/td>\n\n

June 29, 1962<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

November 20, 1946<\/p>\n<\/td>\n

<\/td>\n\n

December 27, 1962<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

May 27, 1947<\/p>\n<\/td>\n

<\/td>\n\n

December 27, 1966<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

June 30, 1947<\/p>\n<\/td>\n

<\/td>\n\n

December 26, 1970<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

November 22, 1947<\/p>\n<\/td>\n

<\/td>\n\n

June 29, 1971<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

May 3, 1948<\/p>\n<\/td>\n

<\/td>\n\n

June 29, 1972<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

August 30, 1948<\/p>\n<\/td>\n

<\/td>\n\n

December 26, 1974<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

March 4, 1950<\/p>\n<\/td>\n

<\/td>\n\n

January 30, 1976<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

May 27, 1950<\/p>\n<\/td>\n

<\/td>\n\n

January 28, 1982<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

November 25, 1950<\/p>\n<\/td>\n

<\/td>\n\n

January 28, 1983<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

June 23, 1951<\/p>\n<\/td>\n

<\/td>\n\n

January 30, 1987<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

November 30, 1951<\/p>\n<\/td>\n

<\/td>\n\n

June 27, 1991<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

February 10, 1953<\/p>\n<\/td>\n

<\/td>\n\n

June 29, 1994<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

June 26, 1954<\/p>\n<\/td>\n

<\/td>\n\n

June 27, 1997<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

June 25, 1955<\/p>\n<\/td>\n

<\/td>\n\n

June 26, 1998<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

June 25, 1956<\/p>\n<\/td>\n

<\/td>\n\n

June 29, 1999<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

December 24, 1956<\/p>\n<\/td>\n

<\/td>\n\n

June 29, 2000<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

June 24, 1957<\/p>\n<\/td>\n

<\/td>\n\n

January 25, 2001<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

December 25, 1957<\/p>\n<\/td>\n

<\/td>\n\n

June 20, 2002<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

December 23, 1958<\/p>\n<\/td>\n

<\/td>\n\n

June 20, 2003<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

June 30, 1959<\/p>\n<\/td>\n

<\/td>\n\n

June 22, 2004<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

December 26, 1959<\/p>\n<\/td>\n

<\/td>\n\n

June 22, 2005<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

June 25, 1960<\/p>\n<\/td>\n

<\/td>\n\n

June 22, 2006<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

June 5, 1961<\/p>\n<\/td>\n

<\/td>\n\n

June 19, 2009<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

June 29, 1961<\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n\n

December 26, 1961<\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
\n<\/p>\n

(TRANSLATION)<\/em>ARTICLES OF INCORPORATION
\nOF
\nSONY CORPORATION<\/strong>
\n(Sony Kabushiki Kaisha)<\/em>CHAPTER I<\/strong>GENERAL
\nPROVISIONS<\/strong><\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 1.<\/strong><\/td>\n<\/td>\n(Trade Name)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The name of the Corporation shall be “Sony Kabushiki Kaisha” and in
\nEnglish translation it shall be “SONY CORPORATION”.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 2.<\/strong><\/td>\n<\/td>\n(Company with Committees)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The Corporation, being a company with committees shall have the Board of
\nDirectors, Committees and Accounting Auditors.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 3.<\/strong><\/td>\n<\/td>\n(Location of the Head Office)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The head office of the Corporation shall be located at Minato-ku, Tokyo,
\nJapan.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 4.<\/strong><\/td>\n<\/td>\n(Purpose)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The purpose of the Corporation shall be to engage in the following
\nbusiness activities:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\n\n

(1)<\/p>\n<\/td>\n

<\/td>\n\n

Manufacture and sale of electronic and electrical machines and equipment;<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
<\/td>\n\n

(2)<\/p>\n<\/td>\n

<\/td>\n\n

Manufacture and sale of medical instruments, optical instruments and other
\nequipment, machines and instruments;<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
<\/td>\n\n

(3)<\/p>\n<\/td>\n

<\/td>\n\n

Planning, production and sale of audio-visual software;<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
<\/td>\n\n

(4)<\/p>\n<\/td>\n

<\/td>\n\n

Planning, production and sale of computer software programs;<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
<\/td>\n\n

(5)<\/p>\n<\/td>\n

<\/td>\n\n

Manufacture and sale of metal industrial products, chemical industrial
\nproducts and ceramic industrial products;<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
<\/td>\n\n

(6)<\/p>\n<\/td>\n

<\/td>\n\n

Manufacture and sale of textile products, paper products and wood-crafted
\narticles, daily necessities, foodstuffs and toys;<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

1<\/p>\n

\n<\/p>\n\n<\/table>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/td>\n\n

(7)<\/p>\n<\/td>\n

<\/td>\n\n

Manufacture and sale of transportation machines and equipment and petroleum
\nand coal products;<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
<\/td>\n\n

(8)<\/p>\n<\/td>\n

<\/td>\n\n

Real estate activities, construction business, transportation business and
\nwarehousing business;<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
<\/td>\n\n

(9)<\/p>\n<\/td>\n

<\/td>\n\n

Publishing business and printing business;<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
<\/td>\n\n

(10)<\/p>\n<\/td>\n

<\/td>\n\n

Advertising agency business, insurance agency business, broadcasting
\nenterprise, recreation business, such as travel, management of sporting
\nfacilities, etc. and other service enterprises;<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
<\/td>\n\n

(11)<\/p>\n<\/td>\n

<\/td>\n\n

Financial business;<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
<\/td>\n\n

(12)<\/p>\n<\/td>\n

<\/td>\n\n

Type I and Type II telecommunications business under the Telecommunications
\nBusiness Law;<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
<\/td>\n\n

(13)<\/p>\n<\/td>\n

<\/td>\n\n

Investing in stocks and bonds, etc.;<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
<\/td>\n\n

(14)<\/p>\n<\/td>\n

<\/td>\n\n

Manufacture, sale, export and import of products which are incidental to or
\nrelated to those mentioned in the preceding items;<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
<\/td>\n\n

(15)<\/p>\n<\/td>\n

<\/td>\n\n

Rendering of services related to those mentioned in the preceding items;<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
<\/td>\n\n

(16)<\/p>\n<\/td>\n

<\/td>\n\n

Investment in businesses mentioned in the preceding items operated by other
\ncompanies or persons; and<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/tr>\n
<\/td>\n\n

(17)<\/p>\n<\/td>\n

<\/td>\n\n

All businesses which are incidental to or related to those mentioned in the
\npreceding items.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 5.<\/strong><\/td>\n<\/td>\n(Method of Public Notice)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The method of public notices of the Corporation shall be electronic
\npublic notices; provided, however, that if the Corporation is unable to give an
\nelectronic public notice because of an accident or any other unavoidable reason,
\npublic notices of the Corporation may be given in the Nihon Keizai Shimbun.
\nCHAPTER II<\/strong> SHARES<\/strong><\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 6.<\/strong><\/td>\n<\/td>\n(Total Number of Shares Authorized to be Issued)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The total number of shares authorized to be issued by the Corporation
\nshall be three billion six hundred million (3,600,000,000) shares.<\/p>\n

2<\/p>\n

\n<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 7.<\/strong><\/td>\n<\/td>\n(Number of Shares Constituting One Full Unit of Stock)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The number of shares constituting one full unit of stock shall be one
\nhundred (100).<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 8.<\/strong><\/td>\n<\/td>\n(Request for the Sale of Shares Constituting Less Than One Full
\nUnit)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

A shareholder holding shares constituting less than one full unit may
\nrequest the Corporation to sell to the shareholder such amount of shares which
\nwill, when added together with the shares constituting less than one full unit,
\nconstitute one full unit of stock.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 9.<\/strong><\/td>\n<\/td>\n(Transfer Agent)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

1. The Corporation shall appoint a transfer agent. The transfer agent
\nand its handling office shall be designated by a resolution of the Board of
\nDirectors of the Corporation or a determination of the Corporate Executive
\nOfficer to whom the determination has been delegated by a resolution of the
\nBoard of Directors of the Corporation and public notice thereof shall be given
\nby the Corporation. 2. The register of shareholders and the register of
\nstock acquisition rights of the Corporation shall be kept at the handling office
\nof the transfer agent. The Corporation shall cause the transfer agent to handle
\nthe business pertaining to shares and stock acquisition rights, such as entry
\n(including digital entry; hereinafter the same interpretation being applicable)
\ninto the register of shareholders and the register of stock acquisition rights,
\nand purchase and sale of shares constituting less than one full unit, etc. The
\nCorporation itself shall not handle the above matters directly.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 10.<\/strong><\/td>\n<\/td>\n(Share Handling Regulations)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The business pertaining to shares and stock acquisition rights of the
\nCorporation shall be governed by, in addition to these Articles of
\nIncorporation, the Share Handling Regulations adopted or amended by a resolution
\nof the Board of Directors of the Corporation or the Corporate Executive Officer
\nto whom the adoption or amendment has been delegated by a resolution of the
\nBoard of Directors of the Corporation. CHAPTER III<\/strong>
\nGENERAL MEETINGS OF SHAREHOLDERS<\/strong><\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 11.<\/strong><\/td>\n<\/td>\n(Convocation)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The ordinary general meeting of shareholders shall be convened within
\nthree months after the end of each business year, and an extraordinary general
\nmeeting of shareholders may be<\/p>\n

3<\/p>\n

\n<\/p>\n

convened whenever necessary in accordance with a resolution of the Board of
\nDirectors of the Corporation.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 12.<\/strong><\/td>\n<\/td>\n(Record Date of Ordinary General Meetings of Shareholders)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The Corporation shall deem any shareholder having voting rights, as
\nappearing on the register of shareholders as of the end of the business year, to
\nbe a shareholder who is entitled to exercise voting rights at the ordinary
\ngeneral meeting of shareholders for that business year.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 13.<\/strong><\/td>\n<\/td>\n(Convocation of Meetings and Chairman)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The Director who is concurrently in office as a Corporate Executive
\nOfficer, as so determined in advance by a resolution of the Board of Directors
\nof the Corporation, shall convene the general meetings of shareholders and act
\nas the chairman thereof. When such Director is unable to act, another Director
\nconcurrently in office as a Corporate Executive Officer, who is designated in
\naccordance with an order of priority determined in advance by a resolution of
\nthe Board of Directors of the Corporation, shall convene such general meetings
\nand act as the chairman thereof.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 14.<\/strong><\/td>\n<\/td>\n(Disclosure of Reference Documents for General Meetings of Shareholders,
\nEtc. through the Internet)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Upon convening a general meeting of shareholders, it may be deemed that
\nthe Corporation has provided the shareholders with necessary information that
\nshould be described or indicated in the reference documents for the general
\nmeeting of shareholders, business reports, non-consolidated financial
\nstatements, and consolidated financial statements, on the condition that such
\ninformation is disclosed through the Internet in accordance with the Ministry of
\nJustice Ordinance.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 15.<\/strong><\/td>\n<\/td>\n(Method of Adopting Resolutions)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

1. Except as otherwise provided by law or by these Articles of
\nIncorporation, all resolutions of a general meeting of shareholders shall be
\nadopted by a majority of votes held by the attending shareholders entitled to
\nexercise their voting rights. 2. Resolutions provided for in Article 309,
\nParagraph 2 of the Companies Act may be adopted by not less than two-thirds of
\nthe votes held by the attending shareholders who hold not less than one-third of
\nthe votes of shareholders entitled to exercise their voting rights.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 16.<\/strong><\/td>\n<\/td>\n(Exercise of Voting Rights by Proxy)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

When a shareholder or its legal representative is not able to attend a
\ngeneral meeting of shareholders personally, he may entrust his voting rights to
\nan attending shareholder who has<\/p>\n

4<\/p>\n

\n<\/p>\n

voting rights. However, a document evidencing the authority of a proxy must
\nbe filed with the Corporation.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 17.<\/strong><\/td>\n<\/td>\n(Adjournment or Change of Location of the Meeting)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The chairman, in accordance with a resolution adopted at a general
\nmeeting of shareholders, may adjourn, or change the location of the meeting.\n<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 18.<\/strong><\/td>\n<\/td>\n(Minutes)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The substance of the proceedings at a general meeting of shareholders
\nand the results thereof, as well as other matters provided for in laws and
\nregulations, shall be recorded in the minutes, and the chairman, other Directors
\nand Corporate Executive Officers present shall inscribe their names and affix
\ntheir seals thereon or put their electronic signature thereon. CHAPTER
\nIV<\/strong> DIRECTORS, BOARD OF DIRECTORS AND COMMITTEES<\/strong><\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 19.<\/strong><\/td>\n<\/td>\n(Election of Directors)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

1. Directors shall be elected at the general meetings of shareholders.
\n 2. In order to adopt a resolution for the election of Directors, the
\nattendance of shareholders holding not less than one-third of the voting rights
\nof shareholders entitled to exercise their voting rights shall be required.
\n 3. With respect to resolutions for the election of Directors, no
\ncumulative voting shall be used.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 20.<\/strong><\/td>\n<\/td>\n(Term of Office of Directors)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

1. The term of office of a Director shall expire at the conclusion of
\nthe ordinary general meeting of shareholders held with respect to the last
\nbusiness year ending within one year after his or her election. 2. The
\nterm of office of a Director elected to fill a vacancy or to increase the number
\nof Directors shall be the same as the remaining term of office of the other
\nDirectors then in office.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 21.<\/strong><\/td>\n<\/td>\n\n

(Limitation of Liabilities of Directors and Liability Limitation
\nAgreement with Outside Directors<\/em>)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

5<\/p>\n

\n<\/p>\n

1. The Corporation may, by a resolution of the Board of Directors of
\nthe Corporation, exempt Directors from their liabilities provided for in
\nArticle 423, Paragraph 1 of the Companies Act, to the extent permitted by law.
\n 2. The Corporation may enter into a liability limitation agreement with
\noutside Directors, which shall limit the maximum amount of their liabilities
\nprovided for in Article 423, Paragraph 1 of the Companies Act to the higher of
\neither thirty million yen (30,000,000 yen) or an aggregate sum of the amounts
\nprescribed in each item of Article 425, Paragraph 1 of the Companies Act.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 22.<\/strong><\/td>\n<\/td>\n(Board of Directors)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

1. The Directors of the Corporation shall constitute the Board of
\nDirectors of the Corporation. 2. The Board of Directors of the Corporation
\nshall make decisions concerning the affairs of the Corporation as provided by
\nlaw and by these Articles of Incorporation, as well as all other important
\naffairs of the Corporation, and supervise the performance of the duties of the
\nDirectors and Corporate Executive Officers.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 23.<\/strong><\/td>\n<\/td>\n(Holding of Meetings of the Board of Directors)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Meetings of the Board of Directors of the Corporation shall be either of
\nordinary or extraordinary meetings. Ordinary meetings of the Board of Directors
\nof the Corporation shall be held at least once every three months, while
\nextraordinary meetings of the Board of Directors of the Corporation shall be
\nheld whenever necessary.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 24.<\/strong><\/td>\n<\/td>\n(Notice of Convocation of the Board of Directors)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Notice of a meeting of the Board of Directors of the Corporation, giving
\nthe date, location and agenda, shall be sent to each Director at least five days
\nprior to the meeting; provided, however, that in case of urgency, such period
\nmay be shortened.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 25.<\/strong><\/td>\n<\/td>\n(Method of Adopting Resolutions of the Board of Directors)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

1. Resolutions of the Board of Directors of the Corporation shall be
\nadopted by a majority of the Directors present, which present Directors shall
\nconstitute, in number, a majority of the total number of Directors entitled to
\nvote. 2. Notwithstanding the preceding paragraph, in accordance with
\nArticle 370 of the Companies Act, the Corporation may deem that the matters to
\nbe resolved by the Board of Directors are adopted by a resolution of the Board
\nof Directors when all the Directors unanimously express their agreement to such
\nmatters.<\/p>\n

6<\/p>\n

\n<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 26.<\/strong><\/td>\n<\/td>\n(Minutes of the Board of Directors)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The substance of the proceedings of a meeting of the Board of Directors
\nof the Corporation and the results thereof, as well as other matters provided
\nfor in laws and regulations, shall be recorded in the minutes, and the attending
\nDirectors shall inscribe their names and affix their seals thereon or put their
\nelectronic signatures thereon.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 27.<\/strong><\/td>\n<\/td>\n(Nominating Committee, Audit Committee and Compensation Committee)<\/em>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Each of the Nominating Committee, the Audit Committee and the
\nCompensation Committee shall make decisions on the matters prescribed by law,
\nand respectively shall exercise their power and authority which are required in
\nperforming their respective business.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 28.<\/strong><\/td>\n<\/td>\n(Organization of Each Committee)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

1. Each Committee shall consist of three (3) or more Directors, a
\nmajority of whom shall be outside Directors; provided, however, that a Director
\nwho is a member of the Audit Committee shall not concurrently be in office as a
\nCorporate Executive Officer, a Director who operates the business, an Accounting
\nCounselor (kaikeisanyo), a general manager (shihainin) or any other employee of
\nthe Corporation or any of its subsidiaries. 2. Directors who are to be
\nmembers of any Committee shall be determined by a resolution of the Board of
\nDirectors of the Corporation. CHAPTER V<\/strong> CORPORATE
\nEXECUTIVE OFFICERS<\/strong><\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 29.<\/strong><\/td>\n<\/td>\n(Election of Corporate Executive Officers)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Corporate Executive Officers shall be appointed by a resolution of the
\nBoard of Directors of the Corporation.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 30.<\/strong><\/td>\n<\/td>\n(Term of Office of Corporate Executive Officers)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

1. The term of office of a Corporate Executive Officer shall expire at
\nthe conclusion of the first meeting of the Board of Directors of the Corporation
\nthat is convened immediately after the conclusion of the ordinary general
\nmeeting of shareholders held with respect to the last business year ending
\nwithin one year after his or her election. 2. The term of office of a
\nCorporate Executive Officer elected to fill a vacancy or to increase the number
\nof Corporate Executive Officers shall be the same as the remaining term of
\noffice of the other Corporate Executive Officers then in office.<\/p>\n

7<\/p>\n

\n<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 31.<\/strong><\/td>\n<\/td>\n(Representative Corporate Executive Officers)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Corporate Executive Officers who shall represent the Corporation shall
\nbe appointed by a resolution of the Board of Directors of the Corporation.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 32.<\/strong><\/td>\n<\/td>\n(Limitation of Liabilities of Corporate Executive Officers)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The Corporation may, by a resolution of the Board of Directors of the
\nCorporation, exempt Corporate Executive Officers from their liabilities provided
\nfor in Article 423, Paragraph 1 of the Companies Act, to the extent permitted by
\nlaw. CHAPTER VI<\/strong> ACCOUNTS<\/strong><\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 33.<\/strong><\/td>\n<\/td>\n(Business Year)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The business year of the Corporation shall commence on April 1 of each
\nyear and shall end on March 31 of the next following year.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 34.<\/strong><\/td>\n<\/td>\n(Dividends from Surplus)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

1. The Corporation may determine the matters provided for in each item
\nof Article 459, Paragraph 1 of the Companies Act by a resolution of the Board of
\nDirectors without a resolution of a general meeting of shareholders.
\n 2. The Corporation may make distribution of surplus in cash (hereinafter
\nreferred to as the “Dividends”) to shareholders or registered share pledgees
\nwhose names appear on the register of shareholders as of the close of March 31
\nor September 30 of each year.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 35.<\/strong><\/td>\n<\/td>\n(Expiration Period)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

In case Dividends shall not be received within five (5) years after the
\ndue date of each payment, the Corporation shall be relieved of the obligation
\nfor the payment thereof. Dividends payable shall bear no interest.<\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 36.<\/strong><\/td>\n<\/td>\n(Conversion of Convertible Debentures and Dividends)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

1. With respect to the calculation of the first Dividends to be paid on
\nshares issued upon conversion of convertible debentures, such conversion shall
\nbe deemed to have occurred at the beginning of the business year in which the
\nconversion was applied for.<\/p>\n

8<\/p>\n

\n<\/p>\n

2. For purposes of applying the preceding paragraph, the period from
\nApril 1 to September 30 of the same year and the period from October 1 to
\nMarch 31 of the next following year, shall be deemed business years,
\nrespectively. CHAPTER VII<\/strong> MISCELLANEOUS
\nPROVISIONS<\/strong><\/p>\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Article 37.<\/strong><\/td>\n<\/td>\n(Transitional Measures for Limitation of Liabilities of Directors,
\nStatutory Auditors and Corporate Executive Officers)<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

1. The Corporation may, by a resolution of the Board of Directors of
\nthe Corporation, exempt Directors from their liabilities arising in connection
\nwith the actions provided for in Article 266, Paragraph 1, Item 5 of the
\nCommercial Code, not as amended (hereinafter referred to as the “Old Commercial
\nCode”) by the Law for Maintenance, Etc. of Relevant Laws Relating to the
\nEnforcement of the Companies Act (Law No. 87, 2005; hereinafter referred to as
\nthe “Maintenance Law”) that occurred prior to the close of the 86th ordinary
\ngeneral meeting of shareholders, to the extent permitted by law. 2. The
\nCorporation may, by a resolution of the Board of Directors of the Corporation,
\nexempt Statutory Auditors from their liabilities under the Old Commercial Code
\narising prior to the close of the 86th ordinary general meeting of shareholders,
\nto the extent permitted by law. 3. The Corporation may, by a resolution of
\nthe Board of Directors of the Corporation, exempt Directors and Corporate
\nExecutive Officers from their liabilities arising from actions set forth in
\nArticle 21-17, Paragraph 1 of the Law for Special Exceptions to the Commercial
\nCode Concerning Audits, Etc. of Kabushiki-kaisha, which actions are taken prior
\nto the enactment of the Maintenance Law, to the extent permitted by law. 9<\/p>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[8866],"corporate_contracts_industries":[9394],"corporate_contracts_types":[9573,9575],"class_list":["post-41419","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-sony-corp","corporate_contracts_industries-consumer__audio","corporate_contracts_types-formation","corporate_contracts_types-formation__incorporation"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/41419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=41419"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=41419"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=41419"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=41419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}