A Stock Company may not provide in the articles of incorporation that the executive officers must be shareholders;provided, however, that this does not apply to a Company with a Nominating Committee, etc. that is not a Public Company.
執行役は、取締役を兼ねることができる。
An executive officer may act concurrently as a director.
An executive officer's term of office continues until the conclusion of the first board of directors meeting called after the conclusion of the annual shareholders meeting for the last business year ending within one year from the time of their election;provided, however, that this does not preclude the shortening the executive officer's term of office by the articles of incorporation.
Notwithstanding the provisions of the preceding paragraph, in cases where a Company with a Nominating Committee, etc. makes any amendment in the articles of incorporation to repeal the provisions of the articles of incorporation to the effect that a Nominating Committee, etc. is established, the executive officer's term of office expires when such amendment in the articles of incorporation takes effect.