Corporation Law - Kabushiki Gaishaho

...The main points of the law were (1) to facilitate fund raising by adopting an authorized capital system, (2) to streamline the company management system by reducing the authority of the general shareholders' meeting and at the same time amending the board of directors system and auditor system, and (3) to strengthen the position of shareholders by strengthening the rights of minority shareholders and tightening the responsibility of directors. Subsequent amendments to the Corporation Law included the Commercial Code amendment in 1962, which focused on accounting (corporate accounting), the amendment in 1966 regarding restrictions on and methods of transfer of stocks prior to capital liberalization, and the amendment in 1974, which focused on strengthening the position of auditors and introducing an accounting auditor system in response to large-scale bankruptcies involving fraudulent accounting. Immediately after the 1974 amendment, work began on a comprehensive review and amendment of the Company Law, which was completed in 1981. The main amendments were the expansion of the scope of companies to which the special provisions for large companies, such as mandatory audits by accounting auditors, the increase in the unit of stock that had remained unchanged since 1899, and the improvement of the fairness of company management, such as measures to eliminate the need for general meetings. …

*Some of the terminology referenced in the "Corporate Act" is listed below.

Source | Heibonsha World Encyclopedia 2nd Edition | Information

…それは，(1)授権資本制度等を採用することにより資金調達の便宜を図る，(2)株主総会の権限を縮小すると同時に取締役会制度･監査役制度を改正して会社運営機構を合理化する，(3)少数株主権の強化，取締役の責任の厳格化等により株主の地位の強化を図る，ことを主眼点とするものであった。その後の株式会社法の改正としては，62年の計算(企業会計)を中心とする商法改正，資本自由化を前にした66年の株式の譲渡制限･譲渡方法等に関する改正，粉飾決算にからむ大型倒産を機に監査役の地位強化と会計監査人制度の導入を柱とした74年改正等が行われたが，74年改正の直後から，会社法の全面的見直しおよび改正の作業が始まり，81年に改正が実現した。そのおもな改正点は，会計監査人監査の強制等大会社の特例が適用される会社の範囲が拡大されたこと，1899年以来据置きとなっていた株式の単位を引き上げたこと，および，いわゆる総会屋根絶のための措置等会社運営の適正を図ったこと，である。…

※「株式会社法」について言及している用語解説の一部を掲載しています。

出典｜株式会社平凡社世界大百科事典 第２版について | 情報