The Justice Ministry plans to have a bill allowing companies to buy their own shares for long-term possession ready for an extraordinary Diet session that is expected to convene in autumn, Justice Minister Masahiko Komura said Tuesday.
Komura said legislative steps are being planned to amend the Commercial Code and that they will include lifting a ban on the so-called treasury stock system.
The treasury stock system has been proposed by the government as a means of revitalizing the ailing stock market.