{"id":74623,"date":"2025-10-11T00:31:27","date_gmt":"2025-10-10T15:31:27","guid":{"rendered":"https:\/\/monolith.law\/tr\/?p=74623"},"modified":"2025-10-19T03:29:24","modified_gmt":"2025-10-18T18:29:24","slug":"llc-member-transfer-japan","status":"publish","type":"post","link":"https:\/\/monolith.law\/tr\/general-corporate\/llc-member-transfer-japan","title":{"rendered":"Japonya \u015eirket Hukukunda G\u014dd\u014d Kaisha'n\u0131n Hisselerinin Devri ve Miras\u00e7\u0131l\u0131\u011f\u0131: Prosed\u00fcr ve Hukuki Gerekliliklerin A\u00e7\u0131klamas\u0131"},"content":{"rendered":"\n<p>Japonya&#8217;daki \u015firket t\u00fcrlerinden biri olan G\u014dd\u014d Kaisha (\u5408\u540c\u4f1a\u793e), esnek organizasyon yap\u0131s\u0131 ve i\u015fletme \u00f6zg\u00fcrl\u00fc\u011f\u00fcn\u00fcn y\u00fcksekli\u011fi sayesinde bir\u00e7ok i\u015fletmede kullan\u0131lmaktad\u0131r. Ancak, bu yap\u0131n\u0131n temelinde, kabushiki kaisha (\u682a\u5f0f\u4f1a\u793e) yani anonim \u015firketlerden farkl\u0131 olarak &#8216;ki\u015fisel g\u00fcven ili\u015fkisi&#8217; anlay\u0131\u015f\u0131 yatmaktad\u0131r. Anonim \u015firketler sermayenin birle\u015fimine odaklan\u0131rken, G\u014dd\u014d Kaisha ise \u00fcyeler aras\u0131ndaki ki\u015fisel ba\u011flant\u0131lar\u0131 ve g\u00fcveni temel al\u0131r. Bu temel felsefe farkl\u0131l\u0131\u011f\u0131, \u015firketin sahipli\u011fine denk gelen &#8216;hisse&#8217;lerin devri veya miras\u0131n\u0131n kurallar\u0131na do\u011frudan yans\u0131maktad\u0131r. G\u014dd\u014d Kaisha&#8217;n\u0131n hisselerinin transferi, anonim \u015firketlerdeki hisse senedi al\u0131m sat\u0131m\u0131 gibi serbest\u00e7e yap\u0131lamaz. Japon \u015firketler hukuku (Japanese Corporate Law), mevcut \u00fcye yap\u0131s\u0131n\u0131n istikrar\u0131n\u0131 \u00f6nceliklendiren kat\u0131 prensipleri belirlemi\u015ftir. Bu nedenle, bir G\u014dd\u014d Kaisha&#8217;n\u0131n hisselerini devretmek veya gelecekteki i\u015f devralmalar\u0131n\u0131 planlamak istedi\u011finizde, bu hukuki i\u015flemlerin, etkinli\u011fin do\u011fmas\u0131 i\u00e7in gereken \u015fartlar ve \u00fc\u00e7\u00fcnc\u00fc \u015fah\u0131slara kar\u015f\u0131 hak iddia etmek i\u00e7in gerekli olan kar\u015f\u0131 koyma \u015fartlar\u0131n\u0131 do\u011fru bir \u015fekilde anlamak hayati \u00f6nem ta\u015f\u0131maktad\u0131r. Bu makalede, Japon \u015firketler hukukuna dayanarak, G\u014dd\u014d Kaisha&#8217;n\u0131n \u00fcyelerinin hisse devri ve miras\u0131na ili\u015fkin hukuki d\u00fczenlemeleri, \u00f6zellikle somut i\u015flemler ve hukuki etkinlik a\u00e7\u0131s\u0131ndan uzman bir bak\u0131\u015f a\u00e7\u0131s\u0131yla detayl\u0131 bir \u015fekilde a\u00e7\u0131kl\u0131yoruz.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_53 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/llc-member-transfer-japan\/#Japonya%E2%80%99da_Godo_Kaisha%E2%80%99nin_Pay_Devri_Temel_Ilkeleri\" title=\"Japonya&#8217;da G\u014dd\u014d Kaisha&#8217;n\u0131n Pay Devri Temel \u0130lkeleri\">Japonya&#8217;da G\u014dd\u014d Kaisha&#8217;n\u0131n Pay Devri Temel \u0130lkeleri<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/llc-member-transfer-japan\/#Temel_Ilke_Tum_Uyelerin_Onayi\" title=\"Temel \u0130lke: T\u00fcm \u00dcyelerin Onay\u0131\">Temel \u0130lke: T\u00fcm \u00dcyelerin Onay\u0131<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/llc-member-transfer-japan\/#Istisna_Isleri_Yurutmeyen_Sinirli_Sorumluluklu_Uyeler\" title=\"\u0130stisna: \u0130\u015fleri Y\u00fcr\u00fctmeyen S\u0131n\u0131rl\u0131 Sorumluluklu \u00dcyeler\">\u0130stisna: \u0130\u015fleri Y\u00fcr\u00fctmeyen S\u0131n\u0131rl\u0131 Sorumluluklu \u00dcyeler<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/llc-member-transfer-japan\/#Tuzuk_Ile_Belirlenen_Ayri_Duzenlemeler\" title=\"T\u00fcz\u00fck \u0130le Belirlenen Ayr\u0131 D\u00fczenlemeler\">T\u00fcz\u00fck \u0130le Belirlenen Ayr\u0131 D\u00fczenlemeler<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/llc-member-transfer-japan\/#Japonya%E2%80%99da_Ortaklik_Payi_Devrinin_Somut_Islemleri\" title=\"Japonya&#8217;da Ortakl\u0131k Pay\u0131 Devrinin Somut \u0130\u015flemleri\">Japonya&#8217;da Ortakl\u0131k Pay\u0131 Devrinin Somut \u0130\u015flemleri<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/llc-member-transfer-japan\/#Japonya%E2%80%99da_Hisse_Devrinin_Gecerlilik_ve_Karsi_Koyma_Sartlari\" title=\"Japonya&#8217;da Hisse Devrinin Ge\u00e7erlilik ve Kar\u015f\u0131 Koyma \u015eartlar\u0131\">Japonya&#8217;da Hisse Devrinin Ge\u00e7erlilik ve Kar\u015f\u0131 Koyma \u015eartlar\u0131<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/llc-member-transfer-japan\/#Japon_Hukuku_Altinda_Onemli_Bir_Karar_Hisse_Devri_Hakkinda_Yargitay_Karari\" title=\"Japon Hukuku Alt\u0131nda \u00d6nemli Bir Karar: Hisse Devri Hakk\u0131nda Yarg\u0131tay Karar\u0131\">Japon Hukuku Alt\u0131nda \u00d6nemli Bir Karar: Hisse Devri Hakk\u0131nda Yarg\u0131tay Karar\u0131<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/llc-member-transfer-japan\/#Payin_Devri_Miras_ve_Birlesme_Altinda_Japon_Hukuku\" title=\"Pay\u0131n Devri: Miras ve Birle\u015fme Alt\u0131nda Japon Hukuku\">Pay\u0131n Devri: Miras ve Birle\u015fme Alt\u0131nda Japon Hukuku<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/llc-member-transfer-japan\/#Ilke_Olum_Nedeniyle_Sirketten_Ayrilma\" title=\"\u0130lke: \u00d6l\u00fcm Nedeniyle \u015eirketten Ayr\u0131lma\">\u0130lke: \u00d6l\u00fcm Nedeniyle \u015eirketten Ayr\u0131lma<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/llc-member-transfer-japan\/#Istisna_Ana_Sozlesme_ile_Belirlenen_Devir_Hukumleri\" title=\"\u0130stisna: Ana S\u00f6zle\u015fme ile Belirlenen Devir H\u00fck\u00fcmleri\">\u0130stisna: Ana S\u00f6zle\u015fme ile Belirlenen Devir H\u00fck\u00fcmleri<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/llc-member-transfer-japan\/#Ozet\" title=\"\u00d6zet\">\u00d6zet<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Japonya%E2%80%99da_Godo_Kaisha%E2%80%99nin_Pay_Devri_Temel_Ilkeleri\"><\/span>Japonya&#8217;da G\u014dd\u014d Kaisha&#8217;n\u0131n Pay Devri Temel \u0130lkeleri<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Japonya&#8217;da bir G\u014dd\u014d Kaisha&#8217;n\u0131n (S\u0131n\u0131rl\u0131 Sorumluluk \u015eirketi) pay devri, bir Kabushiki Kaisha&#8217;n\u0131n (Anonim \u015eirket) hisse devrinden farkl\u0131 olarak, temelde s\u0131k\u0131 bir \u015fekilde s\u0131n\u0131rlanm\u0131\u015ft\u0131r. Bu s\u0131n\u0131rlaman\u0131n alt\u0131nda, G\u014dd\u014d Kaisha&#8217;n\u0131n &#8220;ki\u015fisel \u015firket&#8221; olarak, \u00fcyeler aras\u0131ndaki ki\u015fisel g\u00fcven ili\u015fkisini i\u015fletmenin temeli olarak g\u00f6ren bir d\u00fc\u015f\u00fcnce yatar.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Temel_Ilke_Tum_Uyelerin_Onayi\"><\/span>Temel \u0130lke: T\u00fcm \u00dcyelerin Onay\u0131<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Japon \u015firket hukuku taraf\u0131ndan belirlenen pay devri temel kural\u0131 son derece a\u00e7\u0131kt\u0131r. Japon \u015firket hukukunun 585. maddesinin 1. f\u0131kras\u0131, &#8220;Bir \u00fcye, di\u011fer t\u00fcm \u00fcyelerin onay\u0131 olmadan, pay\u0131n\u0131n tamam\u0131n\u0131 veya bir k\u0131sm\u0131n\u0131 ba\u015fkas\u0131na devredemez&#8221; \u015feklinde h\u00fck\u00fcm koymaktad\u0131r. Bu, e\u011fer baz\u0131 \u00fcyeler kar\u015f\u0131 \u00e7\u0131karsa pay devrinin ger\u00e7ekle\u015fmeyece\u011fi, \u00e7ok kat\u0131 bir &#8220;t\u00fcm\u00fcn\u00fcn onay\u0131&#8221; gereklili\u011fidir. Bu h\u00fck\u00fcm, keyfi bir s\u0131n\u0131rlama de\u011fil, G\u014dd\u014d Kaisha&#8217;n\u0131n \u00f6z\u00fcn\u00fc hukuki olarak somutla\u015ft\u0131rm\u0131\u015ft\u0131r. Kanun, her bir \u00fcyenin ki\u015fili\u011finin di\u011fer t\u00fcm \u00fcyeler i\u00e7in son derece \u00f6nemli oldu\u011funu varsaymakta ve bu nedenle her \u00fcyeye yeni bir orta\u011f\u0131n kabul edilmesini reddetme hakk\u0131, yani veto hakk\u0131 vermektedir. Bu, \u015firketin temeli olan g\u00fcven ili\u015fkisi ve ki\u015fisel ba\u011f\u0131n korunmas\u0131n\u0131 sa\u011flar. T\u00fcm \u00fcyelerin onay\u0131 gibi y\u00fcksek bir engel, bireysel \u00fcyelerin yat\u0131r\u0131mlar\u0131n\u0131n serbest\u00e7e geri al\u0131nmas\u0131ndan ziyade, mevcut \u00fcyelerin birli\u011finin korunmas\u0131n\u0131 hukukun daha fazla \u00f6nemsedi\u011fini g\u00f6sterir.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Istisna_Isleri_Yurutmeyen_Sinirli_Sorumluluklu_Uyeler\"><\/span>\u0130stisna: \u0130\u015fleri Y\u00fcr\u00fctmeyen S\u0131n\u0131rl\u0131 Sorumluluklu \u00dcyeler<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Bu kat\u0131 ilkenin \u00f6nemli bir istisnas\u0131 bulunmaktad\u0131r. Japon \u015firket hukukunun 585. maddesinin 2. f\u0131kras\u0131, &#8220;\u0130\u015fleri y\u00fcr\u00fctmeyen s\u0131n\u0131rl\u0131 sorumluluklu \u00fcyeler, i\u015fleri y\u00fcr\u00fcten t\u00fcm \u00fcyelerin onay\u0131 oldu\u011funda, paylar\u0131n\u0131n tamam\u0131n\u0131 veya bir k\u0131sm\u0131n\u0131 ba\u015fkas\u0131na devredebilir&#8221; \u015feklinde h\u00fck\u00fcm koymaktad\u0131r. Bu madde, \u015firket y\u00f6netimine do\u011frudan kat\u0131lmayan, yat\u0131r\u0131mc\u0131 pozisyonundaki \u00fcyelerin pay devirleri i\u00e7in gereklilikleri hafifletir. Bu durumda, i\u015fleri y\u00fcr\u00fctmeyen di\u011fer s\u0131n\u0131rl\u0131 sorumluluklu \u00fcyelerin onay\u0131 gerekmez ve yaln\u0131zca i\u015fleri y\u00fcr\u00fcten \u00fcyelerin t\u00fcm\u00fcn\u00fcn onay\u0131 ile devir m\u00fcmk\u00fcn olur. Bu istisna h\u00fckm\u00fc, kanunun G\u014dd\u014d Kaisha i\u00e7indeki farkl\u0131 rolleri tan\u0131d\u0131\u011f\u0131n\u0131 g\u00f6sterir. \u0130\u015fleri y\u00fcr\u00fctmeyen \u00fcyelerin pay devri, \u015firketin g\u00fcnl\u00fck i\u015fleyi\u015fine g\u00f6rece daha az etki etti\u011fi i\u00e7in, daha basit bir prosed\u00fcrle ger\u00e7ekle\u015ftirilebilir. Bu d\u00fczenleme, G\u014dd\u014d Kaisha&#8217;y\u0131 daha esnek bir yat\u0131r\u0131m arac\u0131 olarak kullanma yolunu a\u00e7ar. Yat\u0131r\u0131mc\u0131lar\u0131, &#8220;i\u015fleri y\u00fcr\u00fctmeyen s\u0131n\u0131rl\u0131 sorumluluklu \u00fcyeler&#8221; olarak t\u00fcz\u00fckte a\u00e7\u0131k\u00e7a tan\u0131mlayarak, onlar\u0131n \u00e7\u0131k\u0131\u015f stratejilerini daha basit hale getirmek m\u00fcmk\u00fcnd\u00fcr.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tuzuk_Ile_Belirlenen_Ayri_Duzenlemeler\"><\/span>T\u00fcz\u00fck \u0130le Belirlenen Ayr\u0131 D\u00fczenlemeler<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Japon \u015firket hukuku, taraflar\u0131n \u00f6zerkli\u011fine b\u00fcy\u00fck sayg\u0131 g\u00f6sterir ve pay devri kurallar\u0131 da bu istisnan\u0131n d\u0131\u015f\u0131nda de\u011fildir. Japon \u015firket hukukunun 585. maddesinin 4. f\u0131kras\u0131, yukar\u0131da bahsedilen onay gereklilikleri i\u00e7in &#8220;t\u00fcz\u00fckte ayr\u0131 bir d\u00fczenleme yap\u0131lmas\u0131n\u0131 engellemez&#8221; \u015feklinde h\u00fck\u00fcm koymaktad\u0131r. Bu, G\u014dd\u014d Kaisha&#8217;n\u0131n t\u00fcz\u00fc\u011f\u00fc ile kanunun temel prensiplerinden farkl\u0131 \u00f6zel devir kurallar\u0131 belirleyebilece\u011fi anlam\u0131na gelir. \u00d6rne\u011fin, t\u00fcz\u00fckte &#8220;Pay devri i\u00e7in temsilci \u00fcyenin onay\u0131 gereklidir&#8221; veya &#8220;\u0130\u015fleri y\u00fcr\u00fcten \u00fcyelerin \u00e7o\u011funlu\u011funun onay\u0131 al\u0131nmal\u0131d\u0131r&#8221; gibi h\u00fck\u00fcmler koymak m\u00fcmk\u00fcnd\u00fcr. Bu t\u00fcz\u00fck de\u011fi\u015fikli\u011fi yetkisi, G\u014dd\u014d Kaisha&#8217;n\u0131n y\u00f6netim tasar\u0131m\u0131nda son derece \u00f6nemlidir. T\u00fcm \u00fcyelerin onay\u0131 ilkesinin kat\u0131l\u0131\u011f\u0131, a\u015f\u0131lamaz bir engel de\u011fil, sadece bir ba\u015flang\u0131\u00e7 ayar\u0131d\u0131r. Dolay\u0131s\u0131yla, t\u00fcz\u00fc\u011f\u00fcn olu\u015fturulmas\u0131 veya de\u011fi\u015ftirilmesi, sadece bi\u00e7imsel bir prosed\u00fcr de\u011fil, \u015firketin esnekli\u011fi, gelecekteki M&amp;A veya i\u015f devralma olas\u0131l\u0131klar\u0131 ve her bir \u00fcyenin pay de\u011ferini tan\u0131mlayan, son derece stratejik bir faaliyettir.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Japonya%E2%80%99da_Ortaklik_Payi_Devrinin_Somut_Islemleri\"><\/span>Japonya&#8217;da Ortakl\u0131k Pay\u0131 Devrinin Somut \u0130\u015flemleri<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Japonya&#8217;da bir godo kaisha (\u5408\u540c\u4f1a\u793e) t\u00fcr\u00fcndeki \u015firketin ortakl\u0131k pay\u0131n\u0131 devretmek isteyen taraflar, bir dizi yasal i\u015flemi do\u011fru bir \u015fekilde yerine getirmek zorundad\u0131r. Bu i\u015flemler birbiriyle ili\u015fkilidir ve herhangi birinin eksik olmas\u0131, devrin tam anlam\u0131yla ge\u00e7erli olmamas\u0131na neden olabilir.<\/p>\n\n\n\n<p>\u00d6ncelikle, pay\u0131 devreden ki\u015fi (ortakl\u0131k pay\u0131n\u0131 devreden \u00fcye) ile pay\u0131 alan ki\u015fi (ortakl\u0131k pay\u0131n\u0131 edinen ki\u015fi) aras\u0131nda bir ortakl\u0131k pay\u0131 devir s\u00f6zle\u015fmesi imzalan\u0131r. Bu s\u00f6zle\u015fme, taraflar aras\u0131ndaki anla\u015fmay\u0131 kan\u0131tlar; ancak bu s\u00f6zle\u015fme tek ba\u015f\u0131na, \u015firketle olan ili\u015fkide devrin ge\u00e7erlili\u011fini sa\u011flamaz.<\/p>\n\n\n\n<p>Ard\u0131ndan, en \u00f6nemli ad\u0131m olarak, Japon \u015firket hukuku veya \u015firket ana s\u00f6zle\u015fmesinde belirlenen onay gerekliliklerini kar\u015f\u0131lamak zorunlulu\u011fu vard\u0131r. Genel kural olarak, di\u011fer t\u00fcm \u00fcyelerin onay\u0131 gereklidir ve bu onay genellikle &#8216;onay belgesi&#8217; gibi yaz\u0131l\u0131 bir belge ile a\u00e7\u0131k\u00e7a kaydedilmelidir.<\/p>\n\n\n\n<p>Devam\u0131nda, ana s\u00f6zle\u015fmenin de\u011fi\u015ftirilmesi i\u015flemi ger\u00e7ekle\u015ftirilir. Japon \u015firket hukukuna g\u00f6re, ana s\u00f6zle\u015fmede \u00fcyelerin isimleri ve adresleri belirtilmelidir (\u015eirket Hukuku 576. madde 1. f\u0131kra). Pay\u0131 alan ki\u015fi yeni bir \u00fcye olacaksa, genellikle t\u00fcm \u00fcyelerin onay\u0131 (\u015eirket Hukuku 585. madde vb.) al\u0131narak ana s\u00f6zle\u015fme de\u011fi\u015fikli\u011fi yap\u0131l\u0131r ve bu kay\u0131tla d\u0131\u015far\u0131ya kar\u015f\u0131 da \u00fcye stat\u00fcs\u00fc a\u00e7\u0131k\u00e7a belirlenir. \u00d6zellikle \u00f6nemli olan, \u00fcye olmayan bir ki\u015finin pay\u0131 devral\u0131p yeni bir \u00fcye olarak kat\u0131lmas\u0131 durumunda, bu ki\u015finin ancak ana s\u00f6zle\u015fme de\u011fi\u015fikli\u011fi yap\u0131ld\u0131\u011f\u0131nda resmi olarak \u00fcye stat\u00fcs\u00fc kazand\u0131\u011f\u0131d\u0131r. Ana s\u00f6zle\u015fmenin de\u011fi\u015fikli\u011fi de, genel olarak Japon \u015firket hukukunun 637. maddesine dayanarak, t\u00fcm \u00fcyelerin onay\u0131n\u0131 gerektirir. \u0130\u015flemlerde genellikle, ortakl\u0131k pay\u0131 devrinin onay\u0131 ve ana s\u00f6zle\u015fme de\u011fi\u015fikli\u011finin onay\u0131, tek bir kararla e\u015f zamanl\u0131 olarak yap\u0131l\u0131r.<\/p>\n\n\n\n<p>Son olarak, ticari sicil kayd\u0131n\u0131n de\u011fi\u015ftirilmesi ba\u015fvurusu de\u011ferlendirilir. Ancak, kayd\u0131n de\u011fi\u015ftirilmesi her ortakl\u0131k pay\u0131 devrinde gerekli de\u011fildir. Kay\u0131t de\u011fi\u015fikli\u011fi gerektiren durumlar, pay devri sonucunda &#8216;i\u015fleri y\u00fcr\u00fcten \u00fcye&#8217; veya &#8216;temsilci \u00fcye&#8217; gibi kay\u0131tl\u0131 maddelerde de\u011fi\u015fiklik olu\u015ftu\u011funda s\u0131n\u0131rl\u0131d\u0131r. \u00d6rne\u011fin, i\u015fleri y\u00fcr\u00fctmeyen bir \u00fcye, pay\u0131n\u0131 \u015firket d\u0131\u015f\u0131ndaki bir \u00fc\u00e7\u00fcnc\u00fc ki\u015fiye devreder ve bu \u00fc\u00e7\u00fcnc\u00fc ki\u015fi de i\u015fleri y\u00fcr\u00fctmeyen bir \u00fcye olursa veya mevcut \u00fcyeler aras\u0131nda sadece pay oranlar\u0131 de\u011fi\u015firse, kay\u0131tl\u0131 maddelerde bir de\u011fi\u015fiklik olmad\u0131\u011f\u0131 i\u00e7in kay\u0131t ba\u015fvurusu gerekmez.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Japonya%E2%80%99da_Hisse_Devrinin_Gecerlilik_ve_Karsi_Koyma_Sartlari\"><\/span>Japonya&#8217;da Hisse Devrinin Ge\u00e7erlilik ve Kar\u015f\u0131 Koyma \u015eartlar\u0131<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Hisse devrinin hukuki olarak kesinle\u015fmesini ve \u015firket veya \u00fc\u00e7\u00fcnc\u00fc ki\u015filere kar\u015f\u0131 hak iddia edebilmek i\u00e7in, &#8216;ge\u00e7erlilik \u015fartlar\u0131&#8217; ve &#8216;kar\u015f\u0131 koyma \u015fartlar\u0131&#8217;n\u0131 anlamak gereklidir. Anonim \u015firketlerde kar\u015f\u0131 koyma \u015fart\u0131, hissedarlar listesine kay\u0131t gibi tek bir a\u00e7\u0131k \u015farta indirgenirken, godo kaisha (\u5408\u540c\u4f1a\u793e) olarak bilinen Japon tipi \u015firketlerde duruma g\u00f6re \u00e7ok y\u00f6nl\u00fc bir anlay\u0131\u015f gereklidir.<\/p>\n\n\n\n<p>\u00d6ncelikle, \u015firket ve di\u011fer ortaklarla i\u00e7 ili\u015fkilerde, devrin ge\u00e7erlili\u011fi, devir s\u00f6zle\u015fmesinin imzalanmas\u0131 ve gerekli onay \u015fartlar\u0131n\u0131n kar\u015f\u0131lanmas\u0131yla meydana gelir. Ancak, devralan ki\u015finin t\u00fcm haklara sahip tam bir ortak olarak konumunu sa\u011flamla\u015ft\u0131rmas\u0131, \u015firket ana s\u00f6zle\u015fmesinin de\u011fi\u015ftirildi\u011fi zaman ger\u00e7ekle\u015fir. Bu nedenle, \u015firket i\u00e7i ili\u015fkilerde, de\u011fi\u015ftirilmi\u015f ana s\u00f6zle\u015fme, ortakl\u0131k stat\u00fcs\u00fcn\u00fc kan\u0131tlayan kesin bir belge haline gelir.<\/p>\n\n\n\n<p>\u0130kinci olarak, \u015firket d\u0131\u015f\u0131ndaki \u00fc\u00e7\u00fcnc\u00fc ki\u015filere kar\u015f\u0131 ili\u015fkiler, yani &#8216;\u00fc\u00e7\u00fcnc\u00fc ki\u015filere kar\u015f\u0131 koyma \u015fartlar\u0131&#8217; s\u00f6z konusu oldu\u011funda, neyi iddia etmek istedi\u011fimize ba\u011fl\u0131 olarak dayan\u0131lmas\u0131 gereken \u015fartlar de\u011fi\u015fir. Bu ikili yap\u0131y\u0131 anlamak son derece \u00f6nemlidir.<\/p>\n\n\n\n<p>Birincisi, \u015firketin temsil hakk\u0131n\u0131 veya i\u015f y\u00fcr\u00fctme yetkisini \u00fc\u00e7\u00fcnc\u00fc ki\u015filere iddia etme durumudur. \u00d6rne\u011fin, finans kurulu\u015flar\u0131 veya ticari partnerler, bir anla\u015fmay\u0131 imzalama yetkisine sahip ki\u015finin kim oldu\u011funu do\u011frulamak istedi\u011finde, ticari sicil kayd\u0131na (kay\u0131t) ba\u015fvururlar. Dolay\u0131s\u0131yla, i\u015f y\u00fcr\u00fctme yetkisine sahip ortaklar\u0131n veya temsilci ortaklar\u0131n stat\u00fcs\u00fcndeki de\u011fi\u015fiklikleri \u00fc\u00e7\u00fcnc\u00fc ki\u015filere kar\u015f\u0131 koymak i\u00e7in gereken \u015fart, de\u011fi\u015fiklik kayd\u0131d\u0131r. E\u011fer ana s\u00f6zle\u015fmede temsilci orta\u011f\u0131n yetkilerine s\u0131n\u0131rlamalar getirilmi\u015fse bile, bu s\u0131n\u0131rlamalar\u0131 bilmeyen iyi niyetli \u00fc\u00e7\u00fcnc\u00fc ki\u015filere kar\u015f\u0131 bu s\u0131n\u0131rlamalar\u0131 iddia etmek m\u00fcmk\u00fcn de\u011fildir. Bu, Japon \u015eirketler Kanunu&#8217;nun (\u4f1a\u793e\u6cd5) 599. maddesinin 5. f\u0131kras\u0131nda belirtilmi\u015ftir.<\/p>\n\n\n\n<p>\u0130kincisi, ortakl\u0131k stat\u00fcs\u00fcn\u00fc kendisi \u00fc\u00e7\u00fcnc\u00fc ki\u015filere iddia etme durumudur. \u00d6rne\u011fin, yeni bir ortak olan ki\u015finin alacakl\u0131lar\u0131, bu orta\u011f\u0131n varl\u0131klar\u0131 aras\u0131nda yer alan hisseyi haciz etmeye \u00e7al\u0131\u015ft\u0131\u011f\u0131n\u0131 d\u00fc\u015f\u00fcn\u00fcn. Bu durumda, ticari sicil kayd\u0131nda i\u015f y\u00fcr\u00fctmeyen ortaklar yer almad\u0131\u011f\u0131 i\u00e7in, kay\u0131t ortakl\u0131k stat\u00fcs\u00fcn\u00fc kan\u0131tlama arac\u0131 olamaz. Bu durumda ortakl\u0131k stat\u00fcs\u00fcn\u00fc \u00fc\u00e7\u00fcnc\u00fc ki\u015filere kar\u015f\u0131 koymak i\u00e7in gereken \u015fart, uygun \u015fekilde de\u011fi\u015ftirilmi\u015f ana s\u00f6zle\u015fmedir.<\/p>\n\n\n\n<p>Bu \u015fekilde, godo kaisha&#8217;n\u0131n hisse devrinde kar\u015f\u0131 koyma \u015fartlar\u0131, &#8216;kay\u0131t&#8217; veya &#8216;ana s\u00f6zle\u015fme&#8217; gibi basit bir ikilemle cevaplanamaz. Kay\u0131t, &#8216;yetkiyi&#8217; kar\u015f\u0131 koymak i\u00e7in gereken \u015fart iken, ana s\u00f6zle\u015fme, &#8216;ortakl\u0131k stat\u00fcs\u00fcn\u00fc&#8217; kar\u015f\u0131 koymak i\u00e7in gereken \u015fartt\u0131r. Bu ayr\u0131m, hukuki risk y\u00f6netiminde hayati \u00f6neme sahiptir.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Japon_Hukuku_Altinda_Onemli_Bir_Karar_Hisse_Devri_Hakkinda_Yargitay_Karari\"><\/span>Japon Hukuku Alt\u0131nda \u00d6nemli Bir Karar: Hisse Devri Hakk\u0131nda Yarg\u0131tay Karar\u0131<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Hisse devriyle ilgili onay gereklilikleri konusunda, Japon mahkemelerinin yakla\u015f\u0131m\u0131n\u0131 g\u00f6steren \u00f6nemli bir karar bulunmaktad\u0131r. Japonya&#8217;n\u0131n Yarg\u0131tay&#8217;\u0131n\u0131n 1997 (Heisei 9) y\u0131l\u0131n\u0131n 27 Mart&#8217;\u0131nda verdi\u011fi karar (Minji 51, Cilt 3, Sayfa 1628), g\u00fcn\u00fcm\u00fczdeki ortakl\u0131k \u015firketlerine benzer hukuki \u00f6zelliklere sahip eski tip limited \u015firketlerle ilgili bir durumu ele almaktad\u0131r ve bu karar, bug\u00fcn i\u00e7in de \u00f6nemli ipu\u00e7lar\u0131 i\u00e7ermektedir.<\/p>\n\n\n\n<p>Bu olayda, bir limited \u015firketin orta\u011f\u0131, \u015firket orta\u011f\u0131 olmayan bir \u00fc\u00e7\u00fcnc\u00fc ki\u015fiye hissesini devretmi\u015ftir. Bu devir i\u015flemi i\u00e7in, yasal olarak gerekli olan resmi genel kurul onay\u0131 al\u0131nmam\u0131\u015ft\u0131. Ancak, ger\u00e7ekte, devreden ki\u015fi d\u0131\u015f\u0131ndaki t\u00fcm ortaklar\u0131n bu devire esasen onay verdikleri kan\u0131tlanm\u0131\u015ft\u0131r.<\/p>\n\n\n\n<p>Yarg\u0131tay, resmi bir onay karar\u0131 olmamas\u0131na ra\u011fmen, t\u00fcm ortaklar\u0131n ger\u00e7ekten onay vermi\u015f olmalar\u0131 durumunda, bu hisse devrinin ge\u00e7erli oldu\u011funa karar vermi\u015ftir. Bu ge\u00e7erlilik, sadece devir i\u015fleminin taraflar\u0131 aras\u0131nda de\u011fil, ayn\u0131 zamanda \u00fc\u00e7\u00fcnc\u00fc ki\u015filere kar\u015f\u0131 da tan\u0131nm\u0131\u015ft\u0131r. Bu karar, Japon mahkemelerinin bu t\u00fcr durumlarda resmi prosed\u00fcrlerin uygulanmas\u0131ndan ziyade, ilgili t\u00fcm taraflar\u0131n ger\u00e7ek niyetine daha fazla \u00f6nem veren &#8216;ger\u00e7ek\u00e7i yakla\u015f\u0131m\u0131&#8217; benimsedi\u011fini a\u00e7\u0131k\u00e7a g\u00f6stermektedir. Onay gereklili\u011finin amac\u0131, di\u011fer ortaklar\u0131n \u00e7\u0131karlar\u0131n\u0131 korumakt\u0131r. E\u011fer korunmas\u0131 gereken bu ortaklar, kendi r\u0131zalar\u0131yla onay vererek bu korumadan feragat ediyorlarsa, art\u0131k prosed\u00fcr\u00fcn resmi eksikliklerini gerek\u00e7e g\u00f6stererek devrin ge\u00e7erlili\u011fini sorgulamak kabul edilemez. Bu, t\u00fcm ilgili taraflar\u0131n ger\u00e7ek niyetine dayal\u0131 i\u015flemlere hukuki istikrar kazand\u0131ran bir yakla\u015f\u0131md\u0131r, ancak resmi prosed\u00fcrleri takip etmenin her zaman en g\u00fcvenli uygulama oldu\u011fu ger\u00e7e\u011fi de\u011fi\u015fmemektedir.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Payin_Devri_Miras_ve_Birlesme_Altinda_Japon_Hukuku\"><\/span>Pay\u0131n Devri: Miras ve Birle\u015fme Alt\u0131nda Japon Hukuku<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Ortaklar\u0131n \u00f6l\u00fcm\u00fc veya birle\u015fme sonucu t\u00fczel ki\u015fili\u011fin sona ermesi, pay devri gibi ciddi bir sorunu g\u00fcndeme getirir. Bu noktada, Japon kumiyet \u015firketlerinin kurallar\u0131, hisse \u015firketlerinden b\u00fcy\u00fck \u00f6l\u00e7\u00fcde farkl\u0131l\u0131k g\u00f6sterir.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ilke_Olum_Nedeniyle_Sirketten_Ayrilma\"><\/span>\u0130lke: \u00d6l\u00fcm Nedeniyle \u015eirketten Ayr\u0131lma<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Japon \u015firketler hukukunun mirasla ilgili belirledi\u011fi ilke, bir\u00e7ok i\u015fletme sahibi i\u00e7in beklenmedik olabilir. Japon \u015eirketler Kanunu&#8217;nun (2005) 607. maddesinin 1. f\u0131kras\u0131n\u0131n 3. bendine g\u00f6re, bir ortak \u00f6ld\u00fc\u011f\u00fcnde, bu ortak \u015firketten &#8216;ayr\u0131lm\u0131\u015f&#8217; olarak kabul edilir. Yani, orta\u011f\u0131n stat\u00fcs\u00fc (pay\u0131), ilke olarak miras\u00e7\u0131lara otomatik olarak devredilmez. Miras\u00e7\u0131lar, ortak olmak yerine, merhum orta\u011f\u0131n pay\u0131n\u0131n de\u011ferine kar\u015f\u0131l\u0131k gelen bir mebla\u011f\u0131n \u015firketten geri \u00f6denmesini talep etme hakk\u0131na sahip olurlar.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Istisna_Ana_Sozlesme_ile_Belirlenen_Devir_Hukumleri\"><\/span>\u0130stisna: Ana S\u00f6zle\u015fme ile Belirlenen Devir H\u00fck\u00fcmleri<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Bu ilkenin, i\u015fletme devaml\u0131l\u0131\u011f\u0131n\u0131 sa\u011flamak i\u00e7in son derece \u00f6nemli bir istisna h\u00fckm\u00fc bulunmaktad\u0131r. Japon \u015eirketler Kanunu&#8217;nun (2005) 608. maddesinin 1. f\u0131kras\u0131, kumiyet \u015firketlerinin ana s\u00f6zle\u015fmelerinde &#8216;bir ortak \u00f6ld\u00fc\u011f\u00fcnde veya birle\u015fme sonucu t\u00fczel ki\u015filik sona erdi\u011finde, ilgili orta\u011f\u0131n miras\u00e7\u0131lar\u0131 veya di\u011fer genel devralanlar\u0131n, ilgili orta\u011f\u0131n pay\u0131n\u0131 devralabilece\u011fini&#8217; belirleyebilece\u011fini h\u00fckme ba\u011flar. Bu h\u00fck\u00fcm ana s\u00f6zle\u015fmeye dahil edildi\u011finde, miras\u00e7\u0131lar pay\u0131 devralabilir ve yeni bir ortak olabilirler. Ana s\u00f6zle\u015fmenin belirlenme \u015feklinde esneklik vard\u0131r; &#8216;miras\u00e7\u0131lar pay\u0131 devral\u0131r&#8217; \u015feklinde otomatik bir devir belirlenebilece\u011fi gibi, &#8216;di\u011fer t\u00fcm ortaklar\u0131n onay\u0131n\u0131 alarak devralabilir&#8217; \u015feklinde \u015fartl\u0131 bir devir de belirlenebilir.<\/p>\n\n\n\n<p>Bu mirasla ilgili kurallar, &#8216;opt-in sistemi&#8217; olarak i\u015fler, yani aktif bir eylemde bulunulmad\u0131k\u00e7a uygulanmaz. Hi\u00e7bir \u015fey yap\u0131lmazsa, ilke gere\u011fi ayr\u0131lm\u0131\u015f say\u0131l\u0131r. Bu durum, \u00f6zellikle tek orta\u011f\u0131 olan kumiyet \u015firketleri i\u00e7in, ciddi bir risk olu\u015fturur. E\u011fer tek ortak, ana s\u00f6zle\u015fmede bir devir h\u00fckm\u00fc belirlemeden \u00f6l\u00fcrse, \u015firkette hi\u00e7 ortak kalmaz ve Japon \u015eirketler Kanunu&#8217;nun (2005) 641. maddesinin 4. bendinde belirtilen &#8216;ortaklar\u0131n eksikli\u011fi&#8217; nedeniyle \u015firketin feshedilmesi gerekebilir. Bu nedenle, aile \u015firketleri veya yak\u0131n ili\u015fkilerle y\u00f6netilen \u015firketler i\u00e7in, Japon \u015eirketler Kanunu&#8217;nun (2005) 608. maddesine dayanan devir h\u00fck\u00fcmlerini ana s\u00f6zle\u015fmeye dahil etmek, i\u015fletmenin s\u00fcreklili\u011fini sa\u011flamak i\u00e7in en \u00f6nemli g\u00f6revlerden biridir.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ozet\"><\/span>\u00d6zet<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Bu makalede a\u00e7\u0131klad\u0131\u011f\u0131m\u0131z \u00fczere, Japonya&#8217;daki bir G\u014dd\u014d Kaisha&#8217;n\u0131n (\u5408\u540c\u4f1a\u793e) paylar\u0131n\u0131n devri ve devral\u0131nmas\u0131, \u00fcyeler aras\u0131ndaki ki\u015fisel g\u00fcvene dayanan do\u011fas\u0131ndan kaynaklanan derin k\u00f6kl\u00fc kurallarla d\u00fczenlenmektedir. Pay devri genellikle t\u00fcm ortaklar\u0131n onay\u0131n\u0131 gerektirir ve bu i\u015flemler i\u00e7in \u015firket s\u00f6zle\u015fmesinin de\u011fi\u015ftirilmesi \u015fartt\u0131r. \u00dc\u00e7\u00fcnc\u00fc \u015fah\u0131slara kar\u015f\u0131 ileri s\u00fcr\u00fclecek haklar\u0131n korunmas\u0131 i\u00e7in ticari sicil kayd\u0131 ve \u015firket s\u00f6zle\u015fmesinin duruma g\u00f6re kullan\u0131lmas\u0131 gerekmektedir, bu da kabushiki kaisha (\u682a\u5f0f\u4f1a\u793e) sisteminden daha karma\u015f\u0131kt\u0131r. Ayr\u0131ca, miras yoluyla i\u015f devralma, \u015firket s\u00f6zle\u015fmesinde a\u00e7\u0131k bir devralma h\u00fckm\u00fc olu\u015fturulmad\u0131k\u00e7a ger\u00e7ekle\u015fmez. G\u014dd\u014d Kaisha&#8217;n\u0131n esnekli\u011fi, ayn\u0131 zamanda karma\u015f\u0131kl\u0131\u011f\u0131n da kayna\u011f\u0131d\u0131r. \u015eirketin istikrar\u0131n\u0131 sa\u011flamak ve gelecekteki sorunsuz i\u015flemler ile i\u015f devralmalar\u0131n\u0131 ger\u00e7ekle\u015ftirmek i\u00e7in, \u00f6zellikle \u015firket s\u00f6zle\u015fmesinin tasar\u0131m a\u015famas\u0131nda uzmanlar taraf\u0131ndan yap\u0131lan \u00f6nceden hukuki planlama sadece tavsiye edilmekle kalmaz, ayn\u0131 zamanda zorunludur.<\/p>\n\n\n\n<p>Monolith Hukuk B\u00fcrosu, Japon \u015firketler hukuku konular\u0131nda, \u00f6zellikle G\u014dd\u014d Kaisha&#8217;n\u0131n pay devri ve devralma i\u015flemleri konusunda, yerli ve yabanc\u0131 \u00e7e\u015fitli m\u00fc\u015fterilere geni\u015f bir dan\u0131\u015fmanl\u0131k deneyimi sunmaktad\u0131r. B\u00fcromuzda, \u00e7e\u015fitli yabanc\u0131 avukatl\u0131k niteliklerine sahip \u0130ngilizce konu\u015fan avukatlar bulunmakta ve bu t\u00fcr karma\u015f\u0131k hukuki sistemlerde etkin bir \u015fekilde rehberlik edebilmektedirler. \u015eirket s\u00f6zle\u015fmesinin olu\u015fturulmas\u0131 ve de\u011fi\u015ftirilmesinden, M&amp;A i\u015flemlerinin yap\u0131land\u0131r\u0131lmas\u0131na ve g\u00fcvenilir i\u015f devralma planlar\u0131n\u0131n olu\u015fturulmas\u0131na kadar kapsaml\u0131 destek sa\u011fl\u0131yoruz. Japon hukukuna uygun olarak ve m\u00fc\u015fterilerimizin \u00e7\u0131karlar\u0131n\u0131 korumak amac\u0131yla, her a\u015famada destek sa\u011flamaktay\u0131z.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Japonya&#8217;daki \u015firket t\u00fcrlerinden biri olan G\u014dd\u014d Kaisha (\u5408\u540c\u4f1a\u793e), esnek organizasyon yap\u0131s\u0131 ve i\u015fletme \u00f6zg\u00fcrl\u00fc\u011f\u00fcn\u00fcn y\u00fcksekli\u011fi sayesinde bir\u00e7ok i\u015fletmede kullan\u0131lmaktad\u0131r. Ancak, bu yap\u0131n\u0131n temelind [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":74624,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[24,89],"acf":[],"_links":{"self":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts\/74623"}],"collection":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/comments?post=74623"}],"version-history":[{"count":2,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts\/74623\/revisions"}],"predecessor-version":[{"id":74709,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts\/74623\/revisions\/74709"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/media\/74624"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/media?parent=74623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/categories?post=74623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/tags?post=74623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}