50-601: The Meihan Expressway ( 名阪国道 , Meihan kokudō ) is a national expressway in Mie Prefecture and Nara Prefecture , Japan . The expressway is also known as the Meihan National Highway that is a literal translation of its Japanese name. Together with the Nishi-Meihan Expressway and Higashi-Meihan Expressway , it is the central portion of a corridor linking the greater Nagoya and Osaka areas. It
100-423: A (so-called) "close company" ( 非公開会社 , hi-kōkai gaisha ) , in which case the company (e.g. its board of directors or a shareholders' meeting, as defined in the articles of incorporation) must approve any transfer of shares between shareholders; this designation must be made in the articles of incorporation. The articles must be sealed by the incorporator(s) and notarized by a civil law notary , then filed with
150-511: A K.K. is carried out by one or more incorporators ( 発起人 , hokkinin , sometimes referred to as "promoters") . Although seven incorporators were required as recently as the 1980s, a K.K. now only needs one incorporator, which may be an individual or a corporation. If there are multiple incorporators, they must sign a partnership agreement before incorporating the company. The purpose statement requires some specialized knowledge, as Japan follows an ultra vires doctrine and does not allow
200-468: A K.K. must have a board of directors ( 取締役会 , torishimariyaku kai ) consisting of at least three individuals. Directors have a statutory term of office of two years, and auditors have a term of four years. Small companies can exist with only one or two directors, with no statutory term of office, and without a board of directors ( 取締役会非設置会社 , torishimariyaku-kai hi-setchi-gaisha ) . In such companies, decisions are made via shareholder meeting and
250-477: A K.K. to act beyond its purposes. Judicial or administrative scriveners are often hired to draft the purposes of a new company. Additionally, the articles of incorporation must contain the following if applicable: Other matters may also be included, such as limits on the number of directors and auditors. The Corporation Code allows a K.K. to be formed as a "stock company that is not a public company" ( 公開会社でない株式会社 , kōkai gaisha denai kabushiki gaisha ) , or
300-447: A minor issue when deciding how to structure a business in Japan. As all publicly traded companies follow the K.K. structure, smaller businesses often choose to incorporate as a K.K. simply to appear more prestigious. In addition to income taxes, K.K.s must also pay registration taxes to the national government and may be subject to local taxes. Generally, the power to bring actions against
350-563: A plan to reduce tolls to ¥1,000 on weekends and national holidays. Tolls on weekdays would be cut by around 30 percent. According to the National Expressway Construction Association, 4.41 million vehicles use the expressways daily, driving an average of 43.7 kilometres (27.2 mi). National expressways ( 高速自動車国道 , Kōsoku Jidōsha Kokudō ) make up the majority of expressways in Japan. This network boasts an uninterrupted link between Aomori Prefecture at
400-509: A price of less than ¥50,000 per share (effective 1982-2003 ), or operate with paid-in capital of less than ¥10 million (effective 1991–2005). On June 29, 2005, the Diet of Japan passed a new Companies Act ( 会社法 , kaisha-hō ) , which took effect on May 1, 2006. A kabushiki gaisha may be started with capital as low as ¥1, making the total cost of a K.K. incorporation approximately ¥240,000 (about US$ 2,500) in taxes and notarization fees. Under
450-426: A road for motor vehicles only cannot be classified as a national or urban expressway, it may be classified into one of the following categories. Kabushiki gaisha A kabushiki gaisha ( Japanese : 株式会社 , pronounced [kabɯɕi̥ki ɡaꜜiɕa] ; lit. ' share company ' ) or kabushiki kaisha , commonly abbreviated K.K. or KK , is a type of company ( 会社 , kaisha ) defined under
500-469: A standard that allows conversion to four lanes in the future. The default speed limit is 70 km/h (approximately 43.496 mph ) on undivided expressways, while the speed limit on divided expressways is (unless a lower speed is posted) 120 km/h (approximately 74.56455 mph); the speed limit is, however, 100 km/h (approximately 62.13712 mph) for a bus with a GVWR over 3.5 t and a truck with a GVWR over 3.5 t and maximum 8 t, 90 km/h (approximately 55.9234 mph) for
550-449: A style called 後株 , ato-kabu ). Many Japanese companies translate the phrase " 株式会社 " in their name as " Company, Limited "—this is very often abbreviated as " Co., Ltd. "—but others use the more Americanized translations "Corporation" or "Incorporated". Texts in England often refer to kabushiki kaisha as " joint stock companies ". While that is close to a literal translation of the term,
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#1732876708100600-744: A truck with a GVWR over 8 t, and 80 km/h (approximately 49.7097 mph) for motor vehicles with a trailer and three-wheelers (and trucks over 8 t before April 2024 when the speed limit for trucks was raised to 90 km/h). Vehicles unable to reach a speed over 50 km/h (31.06856 mph), such as a tractor or moped , are not permitted on an expressway. Variable speed limits are also in effect on most expressways and speeds are temporarily reduced due to adverse driving conditions. Many rest facilities such as parking areas (usually only with toilets or small shops) and service areas (usually with many more amenities such as restaurants and gas stations ) serve travellers along national expressways. On October 24, 2016,
650-593: Is also combined into one Unicode character at code point U+337F ㍿ SQUARE CORPORATION , while the parenthesized form can also be represented with a single character, U+3231 ㈱ PARENTHESIZED IDEOGRAPH STOCK as well as parentheses around U+682A 株 CJK UNIFIED IDEOGRAPH-682A and its romanization U+33CD ㏍ SQUARE KK . These forms, however, only exist for backward compatibility with older Japanese character encodings and Unicode and should be avoided when possible in new text. The first kabushiki gaisha
700-585: Is assigned the route number of E2A . National expressways are often tolled, with the 325.5 kilometres (202.3 mi) journey from Tokyo to Nagoya on the Tōmei Expressway costing ¥7,100 in tolls for an ordinary car. According to the Japan Times, expressway tolls in Japan are three times as high as in France. With a few exceptions, tolls on national expressways are based on distance travelled. When entering
750-501: Is often used, but the original Japanese pronunciation is kabushiki gaisha , with a ⟨g⟩ , owing to rendaku . A kabushiki gaisha must include " 株式会社 " in its name (Article 6, paragraph 2 of the Companies Act). In a company name, " 株式会社 " can be used as a prefix (e.g. 株式会社 電通 , kabushiki gaisha Dentsū , a style called 前株 , mae-kabu ) or as a suffix (e.g. トヨタ自動車 株式会社 , Toyota Jidōsha kabushiki gaisha ,
800-415: Is owned and operated by Ministry of Land, Infrastructure, Transport and Tourism and is signed as an auxiliary route of National Route 25 as well as E25 under their "Expressway Numbering System." Meihan is a Sino-Japanese pronunciation of two-character kanji acronym for Nagoya and Osaka (名阪). The first character of three-character kanji that represents Nagoya ( 名 古屋) is pronounced as mei , whereas
850-629: Is referred to as a company with a board of statutory auditors ( 監査役会設置会社 , kansayaku-kai setchi-gaisha ) . Close K.K.s may also have a single person serving as director and statutory auditor, regardless of capital or liabilities. A statutory auditor may be any person who is not an employee or director of the company. In practice, the position is often filled by a very senior employee close to retirement, or by an outside attorney or accountant. Japanese law does not designate any corporate officer positions. Most Japanese-owned kabushiki gaisha do not have "officers" per se , but are directly managed by
900-469: The Companies Act of Japan . The term is often translated as "stock company", " joint-stock company " or "stock corporation". The term kabushiki gaisha in Japan refers to any joint-stock company regardless of country of origin or incorporation; however, outside Japan the term refers specifically to joint-stock companies incorporated in Japan. In Latin script, kabushiki kaisha , with a ⟨k⟩ ,
950-687: The Honshu-Shikoku Bridge Expressway Company , whose operations are planned to eventually be absorbed into those of W-NEXCO. The act authorizing the privatization, the Act on Expressway Companies ( 高速道路株式会社法 , Kōsoku-dōro kabushiki gaisha-hō , Act No. 99 of 2004) , was modeled on similar acts authorizing the privatization of the Japanese National Railways into the Japan Railways Group (JR Group). However, unlike
1000-467: The National Route 1 . However, there are exceptions in this rule, and some expressways that are assigned with the two-digit numbers greater than 59 which are not used for the national highway route numbers. The E64 Tsugaru Expressway is an example of this exception as it parallels National Route 101 . If more than one expressway runs parallel with a national highway route, the newer expressway within
1050-1018: The Shuto Expressway in the Tokyo area and the Hanshin Expressway in the Osaka area. There are other smaller networks in Nagoya , Hiroshima , Kitakyūshū , and Fukuoka . Each network is managed separately from each other (the Fukuoka and Kitakyūshū Expressways are managed by the same company but are not physically connected to each other). In 2019, there were 163 fatalities, 527 serious injuries and 11,702 minor injuries on all expressways, all of which were lower than in 2018. All roads in Japan that are built to expressway standards (including national and urban expressways themselves) are known as Roads for motor vehicles only ( 自動車専用道路 , Jidōsha Senyō Dōro ) . If
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#17328767081001100-549: The Shuto Expressway ) was established in 1959, and the Hanshin Expressway Public Corporation (responsible for the Hanshin Expressway ) was established in 1962. By 2004 the lengths of their networks had extended to 283 kilometres (175.8 mi) and 234 kilometres (145.4 mi) respectively. In 1966 a plan was formally enacted for a 7,600 kilometres (4,722.4 mi) national expressway network. Under this plan construction of expressways running parallel to
1150-574: The Honshū-Shikoku Bridge Authority (managing three fixed-link connections between Honshu and Shikoku ) were privatized under the reform policies of the government of Prime Minister Junichiro Koizumi . These privatizations are technically converting the corporations into stock companies with no stock sold to the general public, since the Government of Japan hold controlling shares in the successor companies. The expressway network of JH
1200-565: The Illinois Business Corporation Act of 1933, giving kabushiki gaisha many traits of American corporations , and to be more exact, Illinois corporations. Over time, Japanese and U.S. corporate law diverged, and K.K. assumed many characteristics not found in U.S. corporations. For instance, a K.K. could not repurchase its own stock (a restriction lifted by the amendment of the Commercial Code in 2001), issue stock for
1250-666: The JR Group acts: Japan's expressway development has been financed largely with debt. It was intended to make the expressways free when they are paid off. The Meishin Expressway and Tomei Expressway debt has been fully paid off since 1990. It was decided in 1972 that tolls would be pooled from all expressways to provide a single source of operating funds, since some sections were little used. Earthquake resistant construction methods have added to costs, as well as extensive soundwalling . In March 2009 (then) Prime Minister Taro Aso unveiled
1300-533: The Japanese Ministry of Land, Infrastructure, Transport and Tourism had introduced a new format of route numbering system for national expressways. Expressway route numbers begin with the prefix E or C (for circular route) followed by their respective numbers. Expressway routes are numbered according to the parallel national highway routes; for example, the E1 Tomei Expressway runs parallel with
1350-469: The Legal Affairs Bureau in the jurisdiction where the company will have its head office. In a direct incorporation, each incorporator receives a specified amount of stock as designated in the articles of incorporation. Each incorporator must then promptly pay its share of the starting capital of the company, and if no directors have been designated in the articles of incorporation, meet to determine
1400-462: The Ministry of Finance. Under the new Company Law, public and other non-close K.K.s may either have a statutory auditor, or a nominating committee ( 指名委員会 , shimei-iin-kai ) , auditing committee ( 監査委員会 , kansa-iin-kai ) and compensation committee ( 報酬委員会 , hōshū-iin kai ) structure similar to that of American public corporations. If the company has an auditing committee, it
1450-710: The New Direct Control System, whereby national and local governments will absorb the burden for expressway construction and operate toll-free upon completion. Urban expressways ( 都市高速道路 , Toshi Kōsokudōro ) are intra-city expressways that are found in many of Japan's largest urban areas. Due to the nature of urban expressways going through dense urban areas combined with weak eminent domain powers in Japan, urban expressways have much lower design speed compared to national expressways and are constructed as viaducts or as underground tunnels along existing arterial roads. The two largest urban expressway networks are
1500-484: The coastlines of Japan would be given priority over those traversing the mountainous interior. In 1987, the plan was revised to extend the network to 14,000 kilometres (8,699.2 mi). In April 2018, completed sections of the network totaled 9,429 kilometres (5,858.9 mi) In October 2005 JH, the Metropolitan Expressway Public Corporation, the Hanshin Expressway Public Corporation, and
1550-562: The corridor or one that deviates further from the national highway route may carry the suffix A at the end of its route number. For example, the Chūgoku Expressway and San'yō Expressway both run in parallel along the National Route 2 corridor. The San'yō Expressway is assigned the route code of E2 for running closer to the path of National Route 2 through the coastal cities, and the Chūgoku Expressway which runs further inland
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1600-425: The decision-making power of the directors is relatively limited. As soon as a third director is designated such companies must form a board. At least one director is designated as a Representative Director ( 代表取締役 , daihyō-torishimariyaku ) , holds the corporate seal and is empowered to represent the company in transactions. The Representative Director must "report" to the board of directors every three months;
1650-415: The directors on the corporation's behalf is granted to the statutory auditor. Historically, derivative suits by shareholders were rare in Japan. Shareholders have been permitted to sue on the corporation's behalf since the postwar Americanization of the Commercial Code; however, this power was severely limited by the nature of court costs in Japan. Because the cost to file a civil action is proportional to
1700-618: The directors, one of whom generally has the title of president ( 社長 , sha-chō ) . The Japanese equivalent of a corporate vice president is a department chief ( 部長 , bu-chō ) . Traditionally, under the lifetime employment system, directors and department chiefs begin their careers as line employees of the company and work their way up the management hierarchy over time. This is not the case in most foreign-owned companies in Japan, and some native companies have also abandoned this system in recent years in favor of encouraging more lateral movement in management. Corporate officers often have
1750-417: The exact meaning of this statutory provision is unclear, but some legal scholars interpret it to mean that the board must meet every three months. In 2015, the requirement that at least one director and one Representative Director must be a resident of Japan was changed. It is not required to have a resident Representative Director although it can be convenient to do so. Directors are mandatories ( agents ) of
1800-489: The existing road system was inadequate to deal with the increased demand; in 1956 only 23% of national highways were paved, which included only two thirds of the main Tokyo - Osaka road ( National Route 1 ). In April 1956 the Japan Highway Public Corporation (JH) was established by the national government with the task of constructing and managing a nationwide network of expressways. In 1957 permission
1850-427: The expressway, one collects a ticket, which can be inserted along with the fare into a machine or handed to an attendant upon exiting the expressway. There is also an Electronic Toll Collection (ETC) card system installed in many cars which automatically pays at the toll gate. As of 2001 toll fees consist of a 150 yen terminal charge plus a fee which depends on the distance travelled. The rate of this fee depends on
1900-404: The incorporator, and then make payment for his or her shares by a date specified by the incorporator(s). Capital must be received in a commercial bank account designated by the incorporator(s), and the bank must provide certification that payment has been made. Once the capital has been received and certified, the incorporation may be registered at the Legal Affairs Bureau. Under present law,
1950-470: The initial directors and other officers. The other method is an "incorporation by offering," in which each incorporator becomes the stock underwriter of a specified number of shares (at least one each), and the other shares are offered to other investors. As in a direct incorporation, the incorporators must then hold an organizational meeting to appoint the initial directors and other officers. Any person wishing to receive shares must submit an application to
2000-437: The legal title of shihainin , which makes them authorized representatives of the corporation at a particular place of business, in addition to a common-use title. Kabushiki gaisha are subject to double taxation of profits and dividends, as are corporations in most countries. In contrast to many other countries, however, Japan also levies double taxes on close corporations ( yugen gaisha and gōdō gaisha ). This makes taxation
2050-638: The northern part of Honshu and Kagoshima Prefecture at the southern part of Kyushu , linking Shikoku as well. Additional expressways serve travellers in Hokkaido and on Okinawa Island , although those are not connected to the Honshu-Kyushu-Shikoku grid. Most expressways are four lanes with a central reservation (median). Some expressways in close proximity to major urban areas are six lanes, while in rural areas are constructed as undivided two-lane expressway . Two-lane expressway sections are built to
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2100-422: The old Commercial Code, a K.K. required starting capital of ¥10 million (about US$ 105,000); a lower capital requirement was later instituted, but corporations with under ¥3 million in assets were barred from issuing dividends , and companies were required to increase their capital to ¥10 million within five years of formation. The main steps in incorporation are the following: The incorporation of
2150-507: The second character of two-character kanji that represents Osaka (大 阪 ) is pronounced as han . Construction on the Meihan Expressway began in March 1962, with an intended construction period of only one thousand days. The rapid construction of expressways in Japan at the time was spearheaded by Minister of Construction Ichirō Kōno in preparation for the 1964 Summer Olympics in Tokyo . It
2200-722: The shareholders, and the Representative Director is a mandatory of the board. Any action outside of these mandates is considered a breach of mandatory duty. Every K.K. with multiple directors must have at least one statutory auditor ( 監査役 , kansayaku ) . Statutory auditors report to the shareholders, and are empowered to demand financial and operational reports from the directors. K.K.s with capital of over ¥500m, liabilities of over ¥2bn and/or publicly traded securities are required to have three statutory auditors, and must also have an annual audit performed by an outside CPA . Public K.K.s must also file securities law reports with
2250-401: The two are not precisely the same. The Japanese government once endorsed "business corporation" as an official translation but now uses the more literal translation "stock company." Japanese often abbreviate " 株式会社 " in a company name on signage (including the sides of their vehicles) to 株 in parentheses , as, for example, " ABC㈱ ." The full, formal name would then be " ABC株式会社 ". 株式会社
2300-565: The type of vehicle as shown in the following table. Tolls are always rounded to the nearest 10 yen and include consumption tax . If there are two or more possible routes from the entrance to the exit, the toll will be calculated based on the shortest (cheapest) route. Tolls collected from all routes are pooled into a single fund and are used to repay the entire network. It is expected that all national expressways in Japan will be fully repaid 45 years after privatization (2050). Some future national expressways are planned to be built according to
2350-600: Was divided into three companies based on geography - East Nippon Expressway Company (E-NEXCO), Central Nippon Expressway Company (C-NEXCO), and West Nippon Expressway Company (W-NEXCO). The Metropolitan Expressway Public Corporation transferred its authority to the Metropolitan Expressway Company, while the Hanshin Expressway Public Corporation transferred its authority to the Hanshin Expressway Company. The Honshu-Shikoku Bridge Authority became
2400-463: Was given to the corporation to commence construction of the Meishin Expressway linking Nagoya and Kobe , the first section of which opened to traffic in 1963. In addition to the national expressway network administered by JH, the government established additional corporations to construct and manage expressways in urban areas. The Metropolitan Expressway Public Corporation (responsible for
2450-504: Was opened as a two-lane expressway in December 1965. Expressways of Japan The expressways ( 高速道路 , kōsoku-dōro , lit. "high-speed road", also jidōsha-dō ( 自動車道 ) , lit. "automobile road", "freeway", "expressway", or "motorway") of Japan make up a large network of controlled-access toll expressways . Following World War II , Japan's economic revival led to a massive increase in personal automobile use. However
2500-604: Was the Dai-Ichi Bank , incorporated in 1873. Rules regarding kabushiki gaisha were set out in the Commercial Code of Japan , and was originally based on laws regulating German Aktiengesellschaft (which also means share company). However, during the United States-led Allied Occupation of Japan following World War II, the occupation authorities introduced revisions to the Commercial Code based on
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