Act of Endowment, Chapter 6 Dissolution and Merger

(Dissolution)

41 The Corporate Body shall be dissolved by the following.

(1) A Board of Directors vote of two-thirds or more of the total number of Directors and a Board of Councilors vote.

(2) A vote of two-thirds or more of the Directors present at the Board of Directors meeting, when it has become impossible to succeed in the operation for which the Corporate Body exsits

(3) Merger

(4) Bankruptcy

(5) Dissolution order by the Governor of Tokyo

41.2 The approval of the Governor of Tokyo must be received for a dissolution as per Item 1 of the preceding paragraph, and the confirmation of the Governor of Tokyo must be received for a dissolution as per Item 2 of the same paragraph.

(Disposal of Remaining Assets)

42 The assets remaining at the dissolution of the Corporate Body (except for dissolution due to merger or bankruptcy) shall be transferred to a Gakkou Houjin (including a Jungakkou Houjin) or public benefit juridical person, Koueki Shadan Houjin or Koueki Zaidan Houjin, that is operating an educational enterprise selected by a vote of two-thirds or more of the Directors present at the Board of Directors meeting at the time of dissolution. (SY19-20:27 BoC; SY19-20:87 BoD)

(Merger)

43 A merger of the Corporate Body must be passed by a Board of Directors vote of two-thirds or more of the total number of Directors, then receive the approval of the Governor of Tokyo.

SY19-20 amendments approved by the Governor of Tokyo, May 14, 2020

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