Situation of Use and Necessary System Reform on Class Share subject to Class-Wide Call

在研究期间，对日本上市公司使用“类股泛类召”（以下简称“类股”）的具体案例进行了修正和分析。从现有的案例来看，类股并没有被用于《公司法》制定中引入该制度的最初目的。相反，在现行法律保护被套现的少数股东的情况下，新的类股制度使经理人、大股东和/或母公司得以滥用这些股权。在分析了未来法律改革的预期后，完成了以下的文章和演示文稿，向公众表达自己的意见。

During the research period, the concrete cases, where “Class Shares subject to Class-Wide Call” (hereinafter “the Class Shares”) were used by the listed corporations in Japan, were corrected and analyzed. Looking at the cases available, the Class Shares were not used for the original purpose to introduce the system in the enactment of Companies Act. Rather the new system of the Class Shares enabled abusive uses for managers, majority shareholders and/or parent corporations under the current legal protections for minority shareholders who are cashed out. After analizing the expected future legal reform, the articles and presentations below were completed to express the own opinions to public.