38-556: The Tobu Isesaki Line ( 東武伊勢崎線 , Tōbu Isesaki-sen ) is a Japanese railway line operated by the private railway company Tobu Railway , extending from Tōbu-Dōbutsu-Kōen Station in Saitama to Isesaki Station in Gunma Prefecture . The Isesaki Line can refer to the entire section between Asakusa - Isesaki and Oshiage - Hikifune , but from March 2012, the 41.0 km (25.5 mi) section south of Tōbu-Dōbutsu-Kōen
76-507: A major strike protesting the breakup (and layoffs of tens of thousands of employees) of JNR in 1985. Though private railways such as industrial railways have existed in Japan they are not deemed shitetsu nor mintetsu in Japanese, as their purpose is not public transit. Tokyo Metro is a member of Japan Private Railway Association but is under special laws and its stock is owned by
114-423: 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
152-511: 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
190-468: 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
228-477: 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
266-474: A further northern extension to Kawamata (then on the south bank of Tone River ) was opened. Further northward extension progressed, and in 1910 the line arrived at Isesaki . In 1931, a bridge over the Sumida River was built and present Asakusa Station (then Asakusa Kaminarimon ( 浅草雷門 ) ) opened as part of the department store building, the entire line being completed. The Asakusa to Nishiarai section
304-399: 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
342-576: 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 , 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
380-513: 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
418-554: Is a railroad run by a private business entity (usually a corporation but not need be), as opposed to a railroad run by a public sector . In Japan , private sector railway ( 私鉄 or 民鉄 , Shitetsu or Mintetsu ) , commonly simply private railway , refers to a public transit railway owned and operated by private sector, almost always organized as a joint-stock company , or in Japanese: kabushiki gaisha (lit. stock company), but may be any type of private business entity. Although
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#1732781177939456-593: 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
494-448: Is close to a literal translation of the term, 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
532-629: 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
570-694: The Japan Private Railway Association [ ja ] categorizes 16 companies as "major" operators. They are often profitable and tend to be less expensive per passenger-kilometer than JR trains that also run less dense regional routes. Private railways corporations in Japan also run and generate profits from a variety of other businesses that depend on the traffic generated through their transit systems: hotels, department stores, supermarkets, resorts, and real estate development and leasing. Japanese railways, whether government run, semi-public, or private business, are subject to
608-667: The Japan Railways Group (JR Group) companies are also kabushiki gaishas, they are not classified as private railways because of their unique status as the primary successors of the Japanese National Railways (JNR). Voluntary sector railways (semi-public) are additionally not classified as shitetsu due to their origins as rural, money-losing JNR lines that have since been transferred to local possession, in spite of their organizational structures being corporatized. Among private railways in Japan,
646-618: The Japanese Government and the Tokyo Metropolitan Government (pending privatization). The Japan Private Railway Association counts Tokyo Metro as one of the 16 major private railways. In the United States , a private railroad is a railroad owned by a company and serves only that company, and does not hold itself out as a "common carrier" (i.e., it does not provide rail transport services for
684-554: The 3 March 2006, timetable revision, less than half of trains originated or terminated at Asakusa, with more trains operating through to Tokyo Metro subway lines. From 17 March 2012, the section south of Tōbu-Dōbutsu-Kōen was rebranded as the Tobu Skytree Line . This article incorporates material from the corresponding article in the Japanese Misplaced Pages Private railway A private railway
722-585: 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
760-478: 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
798-467: 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
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#1732781177939836-425: 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;
874-415: 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
912-618: 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
950-417: 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
988-637: The general public). 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 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
1026-404: 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,
1064-574: The inefficiencies of transfers at Kitasenju and notoriously narrow Asakusa, in 1962, the Hibiya Line of the then Teito Rapid Transport Authority ( 帝都高速度交通営団 , Teito Kōsokudo Kōtsū Eidan ) , known as TRTA, present Tokyo Metro ) was built, connecting at Kitasenju. Further growing traffic required Tobu to build a second through line to Tokyo Metro Hanzomon Line in the 1990s. In 2003, the company built new tracks from Hikifune to connect at Oshiage , officially an annex station of Tokyo Skytree. From
1102-470: 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
1140-437: 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
1178-588: The longest electrified railway lines together with the present Kintetsu Osaka Line and Yamada Lines . After World War II , the Tobu Lines had no connection to the Yamanote Line or other major lines of the then Japanese National Railways (JNR) to offer efficient transfers to central Tokyo. The sole connection was with the Jōban Line at Kitasenju, which offered poor access to central Tokyo. To solve
Tobu Isesaki Line - Misplaced Pages Continue
1216-422: 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
1254-808: The regulations enforced by the Railway Bureau [ ja ] of the Ministry of Land, Infrastructure, Transport and Tourism . They may join unions such as National Railway Workers' Union and General Federation of Private Railway and Bus Workers' Unions of Japan , but their abilities to call a strike is severely limited by government legislation; there is very little tolerance for railway work stoppage. Employees of private railways may legally strike but its unheard of in Japan. There have only been two notable railroad strikes in Japanese history, both by employees of government run entities (government employees are legally barred from striking): One in 1973, and
1292-732: 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
1330-483: The term refers specifically to joint-stock companies incorporated in Japan. In Latin script, kabushiki kaisha , with a ⟨k⟩ , 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
1368-631: Was branded as the Tobu Skytree Line in conjunction with the opening of the Tokyo Skytree tower. Stops and operated sections are as of 2023, February 15. The first section of the Isesaki Line was opened by the present company in 1899 between Kita-Senju and Kuki utilising steam motive power. In 1902, Tobu extended the line south to have a maritime connection at present Tokyo Skytree (then Azumabashi ( 吾妻橋 ) , later renamed Asakusa) in downtown Tokyo, and north to Kazo . The following year
1406-509: Was double-tracked in 1912, and the rest of the line was double-tracked between 1920 and 1927, except for the Hanyu to Kawamata section, which was double-tracked when a second bridge was built over the Tonegawa in 1992. Electrification was begun in 1924 on the section of Asakusa and Nishiarai , and in 1927 completed as far as Isesaki. The distance of over 100 km (62 mi) was then one of
1444-632: 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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