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【Company Secretary】What is GK?

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ARK Outsourcing KK provides one-stop service mainly to Japanese branches or subsidiaries of foreign-based companies.
In this article, we will introduce the basic information about making English company documents such as articles of incorporation or meeting minutes in a dialogue style. The contents of this article are based on our discussions in the internal study group.

Ken (male):      
Ken is 22 years old. He has been with ARK for a year.
(He had a meeting with his foreign client recently. He seems satisfied with a nice conversation with his client in English.)

Emma (female):  
Emma is 34 years old. She is a mother of one child and a trainer at ARK.
(She ended up not going to a beer-garden this summer.)

George (male):   
George is 46 years old. 
(He wants to challenge snow mountain climbing.)

Happy Halloween!! Trick or Treat!

George, Emma:
(Just ignore.)

You’ve been cold lately. Oops, it’s been cold lately.
We’ve learned a lot about Kabushiki Kaisha (KK, a joint-stock company) so far, but our new client is thinking about setting up Godo Kaisha (GK, a limited liability company). GK is somewhat mysterious like Halloween costumes.

That’s enough, Ken! 
Thank you for confirming the new case.
To be sure, there is no big difference between KK and GK from the point of establishing a subsidiary in Japan, but in detail, there are some small differences between the two. Now, let’s turn to George.

Me, again?
Anyway, let’s get to know GK by pointing out some merits for GK set-up, compared to KK.

1) Notarization of the articles of incorporation by a notary office is not required; therefore, the cost of GK set-up is less expensive, compared to KK.
2) The term of GK members is not statutory limited; therefore, the periodic registration process is not required.
3) GK has been more socially recognized than before.
4) Members of GK can make prompt decision due to broader freedom of corporate governance.
5) Statutory audit is not required.
6) Public notice of the financial statement is not required.

 In this article, we mentioned “What is GK?” 
Please note that this article only introduces general outlines and does not include professional advice. So please make sure not to make any decisions without taking professional advice individually. If you have any questions, please feel free to contact us.

(Reference / in English)
  Ministry of Justice
  Procedures for Establishment of Limited Liability Companies
 (Accessed on October 30, 2023)