Election Article 329 Officers (meaning directors, accounting advisors and company auditors; hereinafter the same applies in this Section, Article 371, paragraph (4) and Article 394, paragraph (3)) and financial auditors are elected by a resolution at a shareholders meeting.
In cases of a Company with an Audit and Supervisory Committee, the election of directors pursuant to the provisions of the preceding paragraph must be implemented by distinguishing directors who are Audit and Supervisory Committee Members and other directors.
In case of the resolution under paragraph (1), substitute Officers may be elected as prescribed by Ministry of Justice Order by way of precaution against the cases where there are no Officers (in cases of a Company with an Audit and Supervisory Committee, directors who are Audit and Supervisory Committee Members or other directors, or accounting advisors; hereinafter the same applies in this paragraph) in office or the cases where there is a vacancy which results in a shortfall in the number of Officers prescribed in this Act or articles of incorporation.
