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Some Basic Features of Kabushiki-Kaisha (KK) and Godo-Kaisha (GK)
Kabushiki-Kaisha(Joint-Stock Company): A Kabushiki Kaisha has commonly abbreviated KK. The term KK is often referred to in English as "Joint-Stock Corporation." However, as a company name in English, "KK" is used as "Co. Ltd.," "Corporation," and or "Incorporated." A KK can be registered with a capital of 1(one) yen and with only one Investor/Promotor as "Shareholder and Director." A KK is Japan's most widely known and credible type of company structure. Shareholders and Directors can all be non-residents, and a resident in Japan is not mandatory.
Godo-Kaisha (Limited Liability Company) (LLC): A Godo Kaisha has commonly abbreviated GK introduced in the Companies Act of Japan" in May-2006. GK is similar to the UK's Private Limited Company (Ltd) or the American Limited Liability Company (LLC). A foreign entrepreneur or a corporation can register a GK in Japan without a "Local Resident in Japan" under the amendment in the Companies Act introduced in March-2015.
Features of Kabushiki-Kaisha (KK) and Godo-Kaisha (GK) At a Glance.
Comparison between Japanese KK and GK
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Kabushiki-Kaisha(KK) (Kabushiki Joto Seigen Kaisha) Joint-Stock Company |
Godo-Kaisha(GK) LLC Limited Liability Company |
Transfer of equity participation share |
May be transferred freely in principle. May be stipulated in articles of incorporation so that approval of Board of Directors is needed for transfer of shares. |
Unanimous approval of equity participants (members) required |
Number of executives required |
Appointment of 1 or more required. Representative director with right to execute business. If no representative director is appointed, executive officers each have the right of representation. |
No legally stipulated minimum. In principle, all members are executive officers, but a representative member may be appointed.
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Legally stipulated term of office for executives |
2 years in principle. Extendable up to 10 years |
No legally stipulated term |
Possibility of a Company to be a Director |
Not possible |
Possible. However, the co should nominate an individual staff from the co. |
Director must be from shareholder /member |
Not necessarily |
In principle, all members are executive officers, but may be stipulated otherwise in “Articles of Association” |
Regular general meeting of shareholders / members |
In principle, must be held every year |
Not required |
Possibility of public offer of stock |
Possible |
Not possible |
Possibility of reorganization |
A joint-stock corporation (KK) may be reorganized into a limited liability company (LLC) (GK). |
A limited liability company (LLC) (GK) may be reorganized into a joint-stock corporation (KK) |
Distribution of profits and losses |
Allocated according to equity participation ratio |
May be allocated at a different ratio from equity participation ratio if specified in Articles of Association |
Time-frame for registration: For the procedure, please refer to the registration flowchart of Kabushiki-Kaisha (KK) and Godo-Kaisha (GK). Upon applying to Legal Affairs Bureau for registration, it takes about 2(two) weeks to obtain the registration certificate.
A foreign entrepreneur or a corporation can register a Kabushiki-Kaisha [KK] or Godo-Kaisha [GK] in Japan without a "Local Resident in Japan" under the amendment in the Companies Act introduced in March-2015.
Japan Types of Companies(legal-entity) - Comparison At a Glance
Types of Companies in Japan (Business Establishment)
Japanese Company (KK or GK) Incorporation
Kabushiki Kaisha (KK) Opening Form & Documents
Godo Kaisha (GK) Opening Procedure, Steps and Flow Chart
Godo Kaisha (GK) Opening Form & Documents
Japan Branch Office Opening Form & Documents
Japan Subsidiary Company Closing Steps and Procedure
Corporate Number (NTA)
Japan Tax (NTA)
My Number (Japan)
Social Insurance (Japan)
Immigration Bureau (Japan)
Japan Visa (MOFA)