Article 39 In cases where a Stock Company to be incorporated is a Company with a Board of Directors, there must be three or more Directors at Incorporation.
In cases where a Stock Company to be incorporated is a Company with a Board of Company Auditors, there must be three or more Company Auditors at Incorporation.
In cases where the Stock Company to be incorporated is a Company with an Audit and Supervisory Committee, Directors at Incorporation who are Audit and Supervisory Committee Members at Incorporation must be three persons or more.
A person who may not be a director (in cases of a Company with an Audit and Supervisory Committee, a director who is an Audit and Supervisory Committee Member or other director), accounting advisor, company auditor or financial auditor of a Stock Company after formation pursuant to the provisions of Article 331, paragraph (1) (including the case where it is applied mutatis mutandis pursuant to Article 335, paragraph (1)), Article 333, paragraph (1) or (3), or Article 337, paragraph (1) or (3) may not become a Director at Incorporation (in cases where a Stock Company after incorporation is a Company with an Audit and Supervisory Committee, a Director at Incorporation who is an Audit and Supervisory Committee Member at Incorporation or other Director at Incorporation), an Accounting Advisor at Incorporation, a Company Auditor at Incorporation, or a Financial Auditor at Incorporation (hereinafter in this Section referred to as "Officers, etc. at Incorporation"), respectively.
