A yūgen kaisha or yūgen gaisha (Jp. 有限会社, lit. "limited company," abbrev. Y. K. ) is a form of business organization in Japan. For a topic outline on this subject see List of basic Japan topics.
Yugen kaisha are based on the German GmbH and were implemented in Japan in the Limited Company Act (有限会社法) of 1940. Germany, officially the Federal Republic of Germany ( ˈbʊndəsʁepuˌbliːk ˈdɔʏtʃlant is a Country in Central Europe. Gesellschaft mit beschränkter Haftung ( GmbH) is a type of legal entity very common in Germany (where it was created in 1892 Austria Companies Act, implemented on May 1, 2006, replaced the yugen kaisha with a new form of company called godo kaisha, based upon the American limited liability company. Events 305 - Diocletian and Maximian retire from the office of Roman Emperor. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. A gōdō kaisha (合同会社 abbreviated GK, is a type of Business organization in Japan modeled after the American Limited liability company A limited liability company (abbreviated LLC or LLC) in the law of the vast majority of the United States is a legal form of business Company Following the implementation, no new YKs were allowed in Japan, but pre-existing YKs were allowed to continue their operations as kabushiki kaisha under special rules. [1]
Whether the term is pronounced as yūgen gaisha or yūgen kaisha is up to the local dialect, or up to the company's preference when it is part of the company's name. While it is pronounced yūgen gaisha in standard Japanese dialect, the alphabetic abbreviation is always Y. K. by standard.
Structure
As of 2005, a Y. K. can have up to 50 investors, called members (社員 shain?). The members were required to provide at least ¥3 million in capital contributions, with each investment unit (持分 mochibun?) valued at no less than ¥50,000. The minimum capital amount was much more permissive than the ¥10 million minimum for a kabushiki kaisha. A Y. K. was also not required to issue certificates for investment units, whereas stock certificates were required for a K. K.
Unlike a K. K. , a Y. K. does not need to have a board of directors or statutory auditors: the minimum requirement is one director (取締役 torishimariyaku?).
Because of its simplified structure and relatively lax incorporation requirements, the Y. K. form is associated with small businesses. However, some larger companies have used the form: ExxonMobil's principal Japanese subsidiary, for instance, is a Y. The Exxon Mobil Corporation, or ExxonMobil, is an American oil and gas Corporation and a direct descendant of John D K. with paid-in capital of ¥50 billion (US$420 million). [1] In addition to simplified corporate governance, a Y. Corporate governance is the set of Processes customs Policies, laws and institutions affecting the way a Corporation is directed administered or controlled K. receives some tax benefits under foreign laws such as the U. S. Internal Revenue Code. The Internal Revenue Code (or IRC; more formally the Internal Revenue Code of 1986 as amended) is the main body of domestic statutory Tax law
References
- ^ Japan: SPCs under company law - Abolishment of YK Law
Dapyx Software network: MP3 Explorer | Ebook Manager | Zenithic