Limited company - Yugenkaisha

Japanese: 有限会社 - ゆうげんかいしゃ

This was the type of company that existed until the enactment of the Companies Act and the abolition of the Limited Liability Company Act in 2005 (Heisei 17) (Act on the Adjustment of Related Laws in Accordance with the Enforcement of the Companies Act = Adjustment Act, Law No. 87 of 2005).

[Shuzo Toda and Norihiko Fukuhara]

Overview

A company established under the Limited Company Law (Law No. 74 of 1938), it is an incorporated association made up of members who, in principle, are only liable to the company up to the amount of their investment, and are not liable to the company's creditors. It is similar to a joint-stock company in that the liability of members to the company is limited to the amount of their investment, but a joint-stock company was originally regulated in anticipation of large companies, and its establishment procedures and structure are complicated, making it unsuitable for small and medium-sized enterprises. For that reason, it was recognized as an intermediate corporate form that combines the characteristics of a physical company, in which the liability of members is limited, with the elements of a personal company.

In other words, a limited liability company is similar to a joint-stock company in terms of the limited liability of its members, but it has a closed and private character similar to a general partnership in that the number of members is small, their individuality is relatively important, and the complicated and strict regulations of a joint-stock company are relaxed. It was modeled after the German Limited Liability Company (Gesellschaft mit beschränkter Haftung) Act (1892) and was adopted in 1938 (Showa 13), but the French limited liability company (société à responsabilité limitée) and the British private company are also of the same type. Currently, there is active legislative competition regarding limited liability closed companies in European countries, and similar corporate forms are being established in Spain, Italy, and Sweden. Incidentally, the American close corporation is also used for the same purpose as a limited liability company, but it takes the form of a general joint-stock company and is allowed to restrict the transfer of shares.

[Shuzo Toda and Norihiko Fukuhara]

Overview of the former Limited Liability Company Act

A limited company is characterized by the fact that a small number of members can operate a business in private, with simple procedures, and with limited liability. Therefore, the incorporation procedure is simplified, and only promoter incorporation is permitted, and there is no public offering incorporation. There is also no inspection system, but instead, members are required to pay compensation (Articles 14 to 16 of the former Limited Company Law). The status of members of a limited company is unique, and the number is limited to 50 or less in principle (Articles 8 and 19, paragraph 6 of the same law), members are granted statutory subscription rights (Article 51 of the same law), public offering of members, public offering of bonds, and dividends on construction interest are prohibited (Articles 52, paragraph 2, Article 60, paragraph 3, Article 64, paragraph 1, proviso of the same law), and there is no system of no-par value shares. Furthermore, a limited company has capital consisting of many equal contributions, and unlike a joint-stock company, the amount of the capital is set out in the articles of incorporation, but since there is no such thing as no-par value shares, the amount of one share is the division of the capital. In the 1990 amendment to the Limited Liability Company Law, the amount of each share was set at 50,000 yen or more (Article 10), and the capital was raised to 3 million yen to prevent the proliferation of limited liability companies with weak capital bases and to ensure the safety of creditors and general transactions (Article 9). The freedom of transfer of shares was also not recognized, with restrictions placed on the transfer of shares to persons other than members (Article 19), and the securitization of shares was not permitted (Article 21).

The company's organization was also simplified, so that only one director was required (Article 25 of the same law), and there was no system of a board of directors or representative director. In addition, the auditor was a voluntary organization (Article 33, paragraph 1 of the same law), and the general assembly was simplified (Articles 36 and 38 of the same law), and resolutions were permitted to be made in writing (Article 42 of the same law). In other respects, there were many similarities between limited companies and joint stock companies, so many provisions regarding joint stock companies were applied mutatis mutandis to limited companies, and there were essentially similar provisions. Mergers and reorganizations were permitted only between limited companies and joint stock companies (Articles 59, 60, 64, and 67 of the same law). In addition, although the liability of limited companies' members was limited, the disclosure principle was relaxed, there were no strict provisions to ensure the company's capital base, and legal interference was loose, which not only lacked protection for the company's creditors, but also infringed on the interests of members who were not familiar with the company's internal affairs. With the aim of preventing the disadvantages of this type of limited company system, discussions were underway regarding how to regulate closed joint-stock companies and limited companies.

[Shuzo Toda and Norihiko Fukuhara]

Company Law

With the enactment of the Companies Act in 2005, the Limited Liability Company Act was abolished, and the Limited Liability Company system was legally abolished and subsumed under the Corporation System. However, the provisions of the Limited Liability Company Act before its abolition will continue to apply substantially to existing Limited Liability Companies.

(1) Inclusion in the joint stock company system The joint stock company system is divided into public companies and private companies, and the previous limited company system is considered to be included in this private company system. A private company is a company whose articles of incorporation stipulate that all shares are subject to transfer restrictions, and a public company is a company other than a company with all share transfer restrictions, that is, a company with a provision for free transfer of at least one share (Article 2, item 5 of the Companies Act). In a private company, the transfer of shares requires the approval of the company (Article 2, item 17 of the Companies Act), so the closed nature of the company can be ensured. Furthermore, in a private company, different provisions can be made for each shareholder regarding the right to claim dividends on surplus, the right to claim distribution of residual assets, and the distribution of voting rights (Article 109, paragraph 2, Article 105, paragraph 1 of the Companies Act). For example, it is possible to give multiple voting rights to certain shareholders. In addition, a private company is not required to establish a board of directors (Article 327, paragraph 1, item 1 of the Companies Act), and the company can be operated with the simplest organizational structure of only a general shareholders' meeting and directors (Article 326 of the Companies Act).

(2) Special Limited Company System The Limited Company Law was abolished in 2005, but existing limited companies are allowed to continue to use the trade name "Limited Company". In other words, such limited companies will continue to exist as "stock companies" under the law (Article 2, Paragraph 1 of the Reorganization Law), and the articles of incorporation, members, shares, and one share of investment of the existing limited company will be deemed to be the articles of incorporation, shareholders, shares, and one share of stock of the surviving stock company (Article 2, Paragraph 2 of the same Law). Furthermore, according to the provisions of Article 2, the surviving stock company must use the characters "Limited Company" in its trade name (Article 3, Paragraph 1 of the same Law), and such stock companies are called "Special Limited Company" (Article 3, Paragraph 2 of the same Law), and legal arrangements have been made to maintain the substance of the previous limited company system.

[Shuzo Toda and Norihiko Fukuhara]

"New Company Law for Small and Medium-sized Companies and Limited Liability Companies" edited by Gunya Daisuke (2006, Shojihomu)" ▽ "Practical Guide to Special Limited Liability Companies - Explanation of Key Points and Q&A" edited by Neda Masaki and Sakata Junichi (2006, Gyosei)" ▽ "Explanation of the German Limited Liability Company Law" revised edition by Araki Kazuo (2007, Shojihomu) ▽ "New Company Law (Joint Stock Companies and Special Limited Liability Companies)" by Sakamaki Toshiyuki (2007, Horitsu Bunkasha)

[Reference] | Company Law | Corporation

Source: Shogakukan Encyclopedia Nipponica About Encyclopedia Nipponica Information | Legend

Japanese:

2005年（平成17）の会社法の制定・有限会社法の廃止（会社法の施行に伴う関係法律の整備等に関する法律＝整備法、平成17年法律第87号）まで存続していた会社形態。

［戸田修三・福原紀彦］

総説

有限会社法（昭和13年法律第74号）によって設立された会社で、社員が会社に対し、原則として出資の金額を限度とする責任を負うだけで、会社債権者に対してなんらの責任を負わない社員によって構成された社団法人。社員の会社に対する責任が出資の金額に限定された点で株式会社に似ているが、株式会社は、元来、大企業を予想してその法規制がなされており、その設立手続や機構が複雑であるため、中小企業には向かないところがある。そのため、社員の責任を有限とする物的会社の特色に、人的会社の要素を加味した中間的な企業形態としてこれが認められていた。

　すなわち、有限会社は、社員の有限責任の点で株式会社に類似しているが、社員の人数が少なく、その個性が比較的重視され、株式会社の複雑・厳格な規定が緩和されている点で、合名会社に似た閉鎖的・非公開的な性格を有する会社であった。ドイツの有限責任会社Gesellschaft mit beschränkter Haftung法（1892）に倣ったもので、1938年（昭和13）に採用されたが、フランスの有限責任会社société à responsabilité limitéeやイギリスの私会社private companyもこれと類を同じくする。現在、ヨーロッパ各国では有限責任形態の閉鎖会社をめぐる立法競争が盛んであり、スペイン、イタリア、スウェーデンでも同趣旨の企業形態が創設されつつある。なお、アメリカの閉鎖的株式会社close corporationも有限会社と同じ目的で利用されているが、これは一般の株式会社の形態をとり、株式の譲渡制限が認められているものである。

［戸田修三・福原紀彦］

旧有限会社法概説

有限会社は、少人数の社員が、非公開的に、簡易な手続で、有限責任をもって企業を営むことができるという点で特色を有するから、設立手続が簡易化されており、発起設立に該当するものだけが認められ、募集設立にあたるものはない。また、検査制度もないが、そのかわりに社員の填補(てんぽ)責任が義務づけられていた（旧有限会社法14条～16条）。有限会社の社員の地位は個性的であり、その数は原則として50人以下に制限され（同法8条、19条6項）、社員に法定の出資引受権を認め（同法51条）、社員の公募・社債の募集・建設利息の配当などを禁止し（同法52条2項、60条3項、64条1項但書）、無額面株式の制度もなかった。そのうえ、有限会社は、多数の均等額の出資からなる資本を有し、株式会社の場合とは異なり、その資本の額は定款に掲げられたが、無額面株式にあたるものはないために、資本を分割したものが1口の金額であった。1990年（平成2）の有限会社法の改正では、その1口の金額は5万円以上にする（同法10条）とともに、資本的基礎の薄弱な有限会社の乱立の防止と債権者や一般取引の安全を図るために、資本を300万円に引き上げた（同法9条）。持分(もちぶん)譲渡の自由も認めず、社員以外の者への持分の譲渡を制限し（同法19条）、持分の有価証券化を許さなかった（同法21条）。

　会社の機関についても簡易化されており、取締役の員数は1人あればよく（同法25条）、取締役会と代表取締役の制度もなかった。また、監査役も任意機関であり（同法33条1項）、社員総会も簡易化されていたほか（同法36条、38条）、その決議についても書面決議の方法が認められていた（同法42条）。その他の点では株式会社との間に多くの類似点があったので、株式会社に関する多くの規定が有限会社に準用されていたほか、これと実質的に同じような規定が置かれていた。合併や組織変更については株式会社との間にだけ認められた（同法59条、60条、64条、67条）。なお、有限会社の社員の責任が有限であるにもかかわらず、公示主義が緩和され、また、会社の資本的基礎を確実にするための厳格な規定がなく、法の干渉が緩やかであったために、会社債権者の保護に欠けるばかりでなく、会社の内部事情に通じない社員の利益を侵すことにもなった。このような有限会社制度の弊害を防止する趣旨をも含めながら、閉鎖的株式会社と有限会社の規制のあり方について検討が進められていた。

［戸田修三・福原紀彦］

会社法の立場

2005年の会社法制定に伴い、有限会社法が廃止され、有限会社制度が法律上はなくなり、株式会社制度に包摂される。ただし、既存の有限会社に対しては引き続き廃止前の有限会社法の規律が実質的に維持される。

(1)株式会社制度への包摂　株式会社制度は、公開会社と非公開会社に二分され、従前の有限会社制度はこの非公開会社制度に包摂されると解されている。非公開会社とはすべての株式について譲渡制限を付す旨の定款の定めのある会社をいい、公開会社とは全部株式譲渡制限会社以外の会社、すなわち、最低でも1株については株式自由譲渡の定めがある会社をいう（会社法2条5号）。非公開会社では株式を譲渡するには会社による承認が必要である（同法2条17号）ため、会社の閉鎖性を確保できる。しかも、非公開会社では剰余金配当請求権・残余財産分配請求権・議決権分配について株主ごとに異なる定めを置くことができる（同法109条2項、105条1項）。たとえば一定の株主に複数議決権を与えることも可能である。また、非公開会社では取締役会の設置は義務づけられず（同法327条1項1号）、株主総会と取締役のみのもっとも簡易な機関構成で会社を運営してゆくことができる（同法326条）。

(2)特例有限会社制度　2005年に有限会社法は廃止されたが、既存の有限会社はそのまま「有限会社」の商号の使用を継続することが認められる。すなわち、このような有限会社は法律上では「株式会社」として存続し（整備法2条1項）、既存の有限会社の定款・社員・持分・出資1口は、存続する株式会社の定款・株主・株式・株式1株とみなされる（同法2条2項）。そして、2条の規定により存続する株式会社は、その商号中に「有限会社」という文字を用いなければならず（同法3条1項）、このような株式会社を「特例有限会社」と称され（同法3条2項）、従前の有限会社制度の実質が維持できるように法整備がなされている。

［戸田修三・福原紀彦］

『郡谷大輔編著『中小会社・有限会社の新・会社法』（2006・商事法務）』▽『根田正樹・坂田純一編『特例有限会社の実務――ポイント解説とQ＆A』（2006・ぎょうせい）』▽『荒木和夫著『ドイツ有限会社法解説』改訂版（2007・商事法務）』▽『酒巻俊之著『新会社法（株式会社・特例有限会社）』（2007・法律文化社）』

[参照項目] | 会社法 | 株式会社

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