WO2001063501A2

WO2001063501A2 - Profit sharing method, voting right conferring method, and stock selling method

Info

Publication number: WO2001063501A2
Application number: PCT/JP2001/001217
Authority: WO
Inventors: Kenji Kiyota; Kunitake Kaise
Original assignee: Kenji Kiyota; Kunitake Kaise
Priority date: 2000-02-22
Filing date: 2001-02-20
Publication date: 2001-08-30
Also published as: AU2001232358A1

Description

Description Profit money rooster method, voting right provision method and stock sales method

The present invention relates to a method of distributing profits, a method of providing voting rights, and a method of selling stocks. It relates to the method of dividend distribution, the method of voting, and the method of selling those shares.

In addition, the present invention provides a program for executing these processing procedures in a semiconductor memory, an LD (laser disk), an HD (hard disk), an FD (floppy disk), an MD (mini disk), and a CD (compact disk). Also, it relates to an information storage medium recorded on a DVD (digital video disc) or the like. Background art

A stock company raises funds from the public by issuing shares and using the funds to conduct business and generate profits. On the other hand, shareholders may participate in management by voting for each agenda at a general meeting of shareholders based on their voting rights and the right to claim profit dividends held by the acquired shares, or share a portion of the earnings of the stock company. You get a return on your stock by getting it as a dividend.

By the way, the directors and other executive officers of a stock company are determined by a majority vote at the general meeting of shareholders. Can be held. However, as capital increases, it becomes difficult to own more than a majority of the shares, so even the largest shareholder, such as the owner-owner, has a maximum of about 30% to 40%. Most of them do not, but it is possible to take control of the company even if the share is about 30%. The reason is that many companies are striving to create stable shareholders that hold stable shares for a long period of time without being affected by business performance or immediate stock price movements. This is a plus in terms of preventing takeover, stabilizing business relations, and increasing closeness, and increasing management stability. Under these circumstances, M & A (merger and acquisition on) is frequently repeated in Europe and the United States, and one company buys a majority of the »rights shares of another company targeted by another company. To take over. In addition, a malicious takeover group buys a certain amount of stock for a certain period of time at a fixed price using newspaper advertisements, etc., for financial M & A that buys and sells companies in pursuit of financial profit And make a TOB (takeo verbit: tender offer) to acquire a large number of shares at once. In addition, one of the most vicious M & A deals is greenmailers in the U.S., who first buy 5-10% of the stock of the target company and then raise the TOB to the management of the other company. And threaten to repurchase their holdings at a high price (green mail strategy) and make gross profits. A typical example is Mr. Pickens, who bought shares in Koito Manufacturing in Japan and demanded management involvement.

Therefore, even in Japan, business executives must consider protecting themselves from these threats.

SUMMARY OF THE INVENTION The present invention has been made to solve the above-mentioned problems, and it is possible to stabilize management by creating a large number of stable shareholders who are profitable for corporate management. The purpose is to provide a method of granting rights and a method of selling shares. Disclosure of the invention

The profit distribution method according to the present invention is a profit distribution method for paying a profit to a shareholder holding a first share and a second share having voting rights, wherein the first share is provided for the first share. A first step of determining a dividend, and a second step of determining a second dividend for the second stock, wherein the second step is determined based on a period during which a shareholder holds the second stock. The second dividend is determined according to a ratio with the first dividend.

The profit distribution method according to the present invention is the profit distribution method according to claim 1, wherein the second step is performed when a period during which a shareholder holds the second stock reaches a predetermined period. The second dividend is determined with a higher dividend than the dividend. The profit distribution method according to the present invention is the profit distribution method according to claim 1 or claim 2, wherein the second step is performed when a shareholder transfers the name of the second stock. It is characterized in that the second dividend is determined with a lower dividend than the first dividend.

The voting right grant method of the present invention is a voting right granting method for granting »rights to shareholders holding third and fourth shares, wherein the third voting right for the third shares is determined. And a fourth step of determining a right to the fourth stock, wherein the fourth step is based on a ratio of the third m ^ determined based on a period during which the shareholder has held the fourth stock. Therefore, the fourth voting right is determined. The voting right providing method according to the present invention is the voting right providing method according to claim 4, wherein the fourth step is performed when the period during which a shareholder holds the fourth share reaches a predetermined period. The voting right is determined with a higher right than the voting right. The voting right grant method of the present invention is the voting right grant method according to claim 4 or claim 5, wherein the fourth step is performed when the shareholder transfers the name of the fourth share. 4: The right is determined with a lower voting right. The share selling method of the present invention is a share selling method for selling fifth and sixth shares with voting rights issued by a stock company to a purchaser such as an investor. Has the right to receive a fifth dividend, which is determined in accordance with profits, and the sixth share is determined in accordance with the ratio of the fifth dividend determined according to the period held by the shareholders. It has the right to receive the sixth dividend.

In the method for selling shares according to the present invention, in the method for selling shares according to claim 7, wherein the sixth dividend is the fifth dividend when a period during which a shareholder holds the sixth share reaches a predetermined period. It is characterized by a higher payout than the payout.

The method for selling shares according to the present invention is the method for selling shares according to claim 7 or claim 8, wherein the sixth dividend is the fifth dividend when a shareholder transfers the name of the sixth share. It is characterized by a lower dividend than gold.

The stock selling method according to the present invention is the stock selling method according to any one of claims 7 to 9, wherein the fifth stock and the sixth stock are sold to the purchaser using a communication network. It is characterized by that.

The method of selling shares according to the present invention is a method of selling shares that sells the seventh and eighth shares with voting rights issued by a stock company to a purchaser such as an investor. Has the seventh voting right, and the eighth share is determined in accordance with the ratio of the seventh voting right determined based on the period held by the shareholder. It is characterized by having.

The method for selling shares according to the present invention is the method for selling shares according to claim 11, wherein the eighth right is set when the period during which a shareholder holds the eighth share reaches a predetermined period. It is characterized by being larger than voting rights.

The method for selling shares according to the present invention is the method for selling shares according to claim 11 or claim 12, wherein the eighth voting right is set forth in the seventh step when a shareholder transfers the name of the eighth share. It is characterized by being smaller than the right.

The method for selling shares according to the present invention is the method for selling shares according to any one of claims 11 to 13, wherein the seventh share and the eighth share are purchased by using a communication network. It is characterized by being sold to. BRIEF DESCRIPTION OF THE FIGURES

FIG. 1 is a schematic diagram of preferred stock used in the profit distribution method, voting right provision method and stock sales method according to the present invention.

FIG. 2 is a configuration diagram of an automatic stock trading system that uses a profit distribution method, a voting right providing method, and a stock selling method according to the present invention via a communication network. FIG. 3 is a configuration diagram of the system of the embodiment.

FIG. 4 is a diagram illustrating transactions between the devices according to the embodiment.

FIG. 5 is a diagram schematically illustrating a processing procedure of a stock certificate issuing phase according to the embodiment. FIG. 6 is a data configuration diagram of the certificate 31 of the embodiment.

FIG. 7 is a diagram illustrating an example of data of the share certificate issuance request 32 according to the embodiment.

FIG. 8 is a data configuration diagram of the electronic stock certificate 11 of the embodiment.

FIG. 9 is a diagram showing a data configuration of each record of the shareholder registry database 16 of the embodiment.

FIG. 10 is a diagram showing a data configuration of the stock certificate ID list 21 of the embodiment. FIG. 11 is a flowchart showing the processing flow of the electronic stock certificate issuance processing unit 18 of the embodiment.

FIG. 12 is a flowchart showing the flow of the stock certificate ID list creation processing of the embodiment. FIG. 13 is a diagram illustrating an outline of a processing procedure of the sales transaction phase of the embodiment. FIG. 14 is a diagram showing a data configuration of the order request 33 of the embodiment. FIG. 15 is a diagram showing a data configuration of the order reception response 34 of the embodiment.

FIG. 16 is a diagram showing a data configuration of the order matching list 22 of the embodiment. FIG. 17 is a diagram showing a data structure of a shareholder name #m request 35 according to the embodiment. FIG. 18 is a diagram showing a data configuration of a shareholder name transfer history list 17 of the embodiment.

FIG. 19 is a diagram showing a data structure of the shareholder name rewriting response 36 of the embodiment. FIG. 20 is a diagram illustrating a data configuration of the transaction completion notification 37 of the embodiment.

FIG. 21 is a diagram illustrating a data configuration of the settlement request 38 of the embodiment.

FIG. 22 is a diagram showing a data structure of the stock certificate issuance request 39 of the embodiment.

FIG. 23A is a flowchart showing the flow of the process of the order reception processing section 23 of the embodiment.

FIG. 23B is a flowchart (continued) showing a flow of processing of the order reception processing section 23 of the embodiment.

FIG. 24 is a flowchart showing a processing flow of the order matching processing section 24 of the embodiment.

FIG. 25A is a flowchart showing a processing flow of the name transfer processing unit 19 of the embodiment.

FIG. 25B is a flowchart (continued) showing a processing flow of the name transfer processing unit 19 of the embodiment.

FIG. 26 is a flowchart showing a processing flow of the transaction completion processing section 25 of the embodiment.

FIG. 27 is a flowchart showing a processing flow of the electronic stock certificate issuance processing unit 18 of the embodiment.

FIG. 28 is a diagram illustrating an outline of a processing procedure of a name rewriting phase of the embodiment. FIG. 29 is a diagram illustrating a data configuration of the name change request 41 according to the embodiment.

FIG. 30 is a diagram illustrating an outline of a processing procedure of a stock certificate reissue phase according to the embodiment. FIG. 31 is a diagram showing a data structure of a stock certificate reissue request 46 of the embodiment. BEST MODE FOR CARRYING OUT THE INVENTION

First, the meaning of! ^] And terms used in the specification of the present application are defined. “Common stock” means general stock, not stock with special rights, such as preferred stock or subsequent stock. Almost all of the shares issued by Japanese companies are ordinary shares.

“Preferred shares” are shares for which dividends or voting rights are determined in proportion to the ratio of common shares determined based on the period held by the shareholders. For example, assuming that the dividend on common stock is 5 yen and the voting right is 1 vote, the period held by the shareholders is less than 5 years ^^, the dividend is 4 yen and the voting right is 0.8 votes (that is, 80 votes). %), If it is 5 years or more and less than 10 years, the dividend is 5 yen and voting rights are 1 vote (that is, 100%). If it is 10 years or more, the dividend is 6 yen and voting rights are 1.2 Dividends or voting rights are awarded, such as votes (ie, 120%).

Hereinafter, embodiments of the present invention will be described in detail with reference to the drawings. However, for the sake of simplicity, it is assumed that both the dividend and the voting rights of the preferred shares will be determined in proportion to the common shares based on the holding period. It goes without saying that one may fluctuate.

Embodiment 1:

5 is a preferred stock certificate (either electronic data, electronic stock certificate or conventional stock certificate) issued by ABC Co., Ltd., which indicates that it will fluctuate depending on the voting rights and dividend holding period for common stock. Has been described. In this example of preferred stock 5, if a shareholder holds less than 5 years, voting rights and dividends will be 80% of common stock, 5 years or more, and less than 10 years ^, voting rights and dividends Voting rights and dividends are issued at a rate of 120% of common stock if they are 100% the same as common stock and 10 years or more. However, the ratio of the voting rights and dividends will be determined on a flexible basis by management judgment at the time of issuance of the preferred stock5. In addition, preferred stock certificates using electronic data are traded via a communication network using EC (Electric commerce) technology described below.

FIG. 2 is a configuration diagram of an automatic stock trading system that uses a profit distribution method, a voting right providing method, and a stock selling method according to the present invention via a communication network. For example, N is an over-the-counter trade market operated by the Securities Dealers Association. The terminal is installed in dozens of countries other than the United States, such as an automatic stock trading system built on AS DAC, and also functions as an international trading network.

1 is a stock company that issues common stock and preferred stock (see Figure 1) based on business decisions to raise capital and uses a mainframe Co., Ltd. (not shown) to create a communication network. 7 (for example, via the Internet communication network or dedicated line), outsource the sales to the securities companies described below. In particular, if it is highly necessary to increase the number of stable shareholders, the manager of Stock Company 1 will strive for stable operation by issuing more preferred shares.

Reference numeral 2 denotes a network server provided on the stock exchange side. The common stock is a common stock that has been commissioned to sell by a stock company mainframe via a communication network 7 (for example, an Internet communication network or a dedicated line). And information required for trading preferred stock.

Reference numerals 3-1 to 3-M denote purchaser terminals provided on the purchaser side. The purchaser terminals are connected to the network server 2 via the communication network 7 to obtain stock transaction information and make stock purchase orders.

4 is a bank mainframe provided by a bank as a stock-handling financial institution, which automatically performs all financial settlements necessary for stock trading using EC technology. Since the EC technology is already known and is not directly related to the present invention, a detailed description thereof will be omitted. Electronic trading system (JP-A-10-320470), electronic shocking system (JP-A-Hei. 1 0—2 4 0 8 2 3) and these can be used as they are.

Next, the operation of the automatic stock trading system using the profit distribution method, the voting right grant method and the stock selling method according to the present invention configured as described above will be described. In order to protect itself from the aforementioned malicious takeover group, Green Mailer, etc., the managers of Stock Company 1 decided to strategically distribute preferred stock in addition to common stock through a resolution of the general meeting of shareholders and the board of directors. Issue. Then, the corporation 1 uses the mainframe corporation to transmit the issued stock information to the network server via the communication network 7 and consigns the sales to a securities dealer.

Based on the information on the issued share certificates, the securities brokers will provide information via the Internet that Stock Company 1 will sell new shares of common stock and preferred stock at the prescribed price and conditions. Upload to server 2 and publish.

The purchaser accesses the network server 2 via the communication network 7 with the purchaser terminals 3-1 to 3-M to obtain the public information of the common stock and the preferred stock. Also, if the purchase conditions are satisfied, the purchaser informs the network server 2 of the purchase intention through the purchaser terminals 3-1 to 3-M, and the purchase price and commission of the preferred stock are automatically banked by EC technology. Transfer to mainframe 4. The bank will transfer the capital transferred to the bank mainframe 4 to the account of Stock Company 1 and automatically reduce the remaining fees, excluding the collection fees received by the banks, by EC technology to the securities brokers. Transfer to account.

The purchaser acquires the preferred stock certificate 1 in the form of electronic data and receives the prescribed voting rights and dividends from Stock Company 1. The dividend will be determined automatically by Mainframe Inc., based on the name change history on the DB, by counting the holding period and number of shares held by each owner. In addition, when voting rights are met, Mainframe Inc. tallies the holding periods and holdings of each owner from the name change history on the DB at the time of the convocation of the general meeting, determines the number of m ^ rights, and automatically distributes it by e-mail. .

Embodiment 2 (1) Schematic Configuration

FIG. 3 is a configuration diagram of a transaction processing system using an electronic stock certificate according to the present embodiment. The above-described electronic data format preferred stock certificate is traded, and a process of automatically giving a dividend or voting right is performed.

The system consists of a certificate authority server 5, an investor client 1, an issuing agent server 2, an exchange server 3, a settlement server 4, and a network 9 such as the Internet for interconnecting these devices. The certificate authority server 5 is a program that includes a certificate database 29 that stores the contents of the certificate, and issues a certificate to the investor client 1, the issuing agent server 2, and the exchange server 3. Authentication line This is a computer having a processing unit 30.

The investor client 1 has a storage device for storing the electronic stock certificate 11, and as its main programs, a stock certificate issue request processing unit 12, an order request processing unit 13, a transfer request processing unit 14, and an account inquiry processing unit. It is a computer having 15 The share certificate issuance request processing unit 12 requests the issuance agent server 2 to issue or reissue the electronic share certificate 11 and receives the issued or reissued electronic share certificate 11. The order request processing section 13 Send a sell or buy order request to BA3 and receive the transaction result. The transfer request processing unit 14 requests the transfer of the transfer of the electronic stock certificate 11 to the issuing agent server 2 for the other investor client 1. The account inquiry processing unit 15 inquires of the settlement server 4 about the status of the account as a result of the settlement.

The issuance agent server 2 has a shareholder registry database 16 and a shareholder name history list 17 on the storage device.Electronic share certificate issuance processing unit 18, name transfer processing unit 19 and This is a computer having an electronic stock certificate reissue processing unit 20. The shareholder registry database 16 stores the content information and information about the shareholders of valid electronic stock certificates 11. The shareholder transfer history list 17 records information about the electronic share certificates 11 and the owners thereof that have been confirmed as a result of the transfer. The electronic share certificate issuance processing unit 18 updates and creates a new record that updates the corresponding record in the shareholder registry database 16 in response to a share certificate issuance request from the investor client 1. Sends electronic stock certificate 1 1 to investor client 1. In response to the transfer request from the exchange server 3 or the investor client 1, the transfer processing unit 19 updates the corresponding record in the shareholder registry database 16 and executes the transfer. Record the history in the shareholder transfer history list 17. The electronic stock reissue processing unit 20 updates the corresponding record in the shareholder registry database 16 in response to a request from the client 1 Send 1 1 to Investor Client 1. The program of the electronic share certificate issuance processing unit 18, the name change processing unit 19, or the electronic share certificate reissue processing unit 20 is stored in a storage medium, and issuance agent issuance via a driving device connected to the issuance agent server 2. It is read into the memory of the person server 2 or connected to another computer via a drive unit, another computer, or a network, and is read into the memory of the issuing agent server 2 to the issuing agent server 2. It is possible to execute it.

The exchange server 3 has a stock certificate ID list 21 and an order matching list 22 on a storage device, and includes, as main programs, an order reception processing section 23, an order matching processing section 24, and a transaction completion processing section 25. Is a computer having The stock certificate ID list 21 is a database storing a list of valid stock certificates 11 of stock certificates. The order matching list 22 stores information on pairs of sell orders and buy orders for which transactions have been established. The order reception processing unit 23 receives the order request from the investor client 1 and checks whether the electronic share certificate 11 specified by referring to the share certificate ID list 21 is valid or not. Click. The order matching processing section 24 matches the sell order and the buy order and registers a set of orders that have been traded in the order matching list 22. Further, the order matching processing section 24 requests the issuing agent server 2 to change the name. The transaction completion processing unit 25 notifies the investor client 1 of the completion of the transaction for the order whose transfer of name has been completed. The program of the order reception processing section 23, the order matching processing section 24 or the transaction completion processing section 25 is stored in a storage medium, and is stored in the memory of the exchange server 3 via a drive connected to the exchange server 3. Power to be read into \ or a drive connected to another computer, another computer, can be transferred to the memory of the station 3 via the network and executed by the exchange server 3 .

The settlement server 4 is a computer having a settlement account database 26 on a storage device and having an inter-account settlement processing unit 27 and an account inquiry response processing unit 28 as main programs. The settlement account database 26 has records for storing account information, deposits, withdrawals, balances, and the like for the investor client 1 to be joined. The inter-account settlement processing unit 27 performs settlement between accounts in response to a settlement request from the exchange server 3, and updates the corresponding account record in the settlement account database 26. The account inquiry response processing unit 28 responds to the account inquiry from the investor client 1 by referring to the settlement account database 26 and information of the corresponding account record.

FIG. 4 is a diagram showing information exchanged between the devices and transactions related to the devices. Transactions related to the equipment are divided into four phases: a stock certificate issuing phase, a trading transaction phase, a name transfer phase, and a stock reissue phase. Prior to the transaction, the investor client 1, the issuing agent server 2, and the exchange server 3 make a certificate issuance request to the certificate authority server 5, and obtain the respective certificates.

In the share issuance phase, the issuing agent server 2 issues electronic share certificates 11 in response to a share certificate issuance request from the investor client 1, following the solicitation of new shares issued by the company on the Internet. The correspondence between the issued stock ID and the user ID of the issued electronic stock certificate 11 is described to the exchange server 3 as a stock certificate ID list.

In the buy / sell transaction phase, the exchange server 3 responds to the order request from the investor client 1, matches the sell order with the buy order, and concludes the transaction, and requests the issuing agent server 2 to change the shareholder name. It also requests the settlement server 4 for settlement between accounts. Nominal # ^ In the phase, the transfer of the electronic share certificate 1 from the transferor client client 1 to the transferee client client 1 1 changes the transferee client 1 to the issuing agent server 2 Make a request and send the new stock ID list 2 1 to the exchange server 3.

When an investor loses the electronic stock certificate 11 or splits or consolidates the number of shares described in the electronic stock certificate 11, the re-issue of the stock certificate is performed. In the stock reissue phase, the investor client 1 issues a stock reissue request to the issuing proxy server 2, and the issuing proxy server 2 re-issues the electronic stock certificate 11.

(2) Stock issue issuance

FIG. 5 is a diagram showing an outline of a processing procedure in a stock certificate issuing phase. First, prior to the issuance of the stock certificate, the investor client 1, the issuance agent server 2 and the exchange server 3 each transmit a certificate issuance request to the certificate authority server 5. Upon receiving this request, the certificate issuance processing unit 30 of the certificate authority server 5 examines the requester based on the contents of the certificate issuance request, and registers the contents in the certificate database 29, The certificate 31 with the digital signature is sent to the requester. The method of screening by financial institutions is already known. Each requester saves the received certificate 31.

Next, the share certificate issuance request processing unit 12 of the investor client 1 checks the conditions for issuing shares (for example, dividends and voting) presented by the issuance agent server 2 by WWW (Wor 1d Wide Web) or the like. Both rights are agreed upon based on the holding period and the ratio is determined by the ratio to common stock), and then a share certificate issuance request 32 is sent to the issuing proxy server 2. At that time, a digital signature is issued for the stock certificate issuance request 32 using the certificate 31 obtained from the certificate authority server 5. This digital signature prevents investor client 1 from spoofing and denial. Upon receipt of the share certificate issuance request 3 2, the electronic share certificate issuance processing unit 18 of the issuing agent server 2 processes the issuance of electronic share certificates, and digitally signs the created electronic share certificates 1 1 with the issuing company's digital signature to invest. Send to home client 1. In the present embodiment, it is assumed that the digital signature of the issuing agent server 2 is the digital signature of the issuing company. The share certificate issuance request processing unit 12 of the investor client 1 saves the received electronic share certificate 11 on a storage device. The investor client 1 can exercise shareholder rights by presenting the electronic stock certificate 11 via the network 9, and can prevent short selling when submitting a sell order to the exchange server 3. What The sum of shareholder rights (such as dividends and voting rights) is automatically calculated for each investor.

Next, the electronic share certificate issuance processing section 18 registers the issued electronic share certificate 11 and the information of its shareholders in the shareholder register database 16. The issuing proxy server 2 refers to the shareholder registry database 16 to create a stock certificate ID list 21 that indicates the correspondence between the stock certificate ID and the user ID for all currently valid electronic stock certificates 11. The digital signature is given to the exchange server 3. The exchange server 3 stores the received stock certificate ID list 21 in a storage device.

FIG. 6 is a diagram showing a data configuration of the certificate 31. As shown in FIG. This example is a certificate format based on X.509. Certificate 31 contains the public key information for decrypting the digitally signed message or document.

FIG. 7 is a diagram showing a data example of the stock certificate issuance request 32. The entire share issuance request 32 is encrypted (digitally signed) with the private key of the investor client 1. The account information is encrypted with the public key of the settlement server 4. Certificate 31 of investor client 1 can be attached to share certificate issuance request 3 2.

FIG. 8 is a diagram showing a data configuration of the electronic stock certificate 11. The stock certificate number corresponds to the conventional stock certificate number. The stock certificate ID is an identifier of the stock certificate adopted by the present invention, and has a one-to-one correspondence with the stock certificate number, but is changed to another ID whenever the name of the electronic stock certificate 11 is changed. The “issuing company signature algorithm” is a signature algorithm used when the issuing agent server 2 digitally signs the electronic stock certificate 11.

FIG. 9 is a diagram showing the data structure of each record constituting the shareholder registry database 16. The data was obtained from electronic share certificates issued or transferred, 11 and share certificate issuance requests. “Issuance conditions, etc.” are the issuance conditions, etc. attached to shares, such as the conditions at the time of sale of shares.

FIG. 10 is a diagram showing a data structure of the stock certificate ID list 21. As shown in FIG. In the stock certificate ID list 21, a plurality of correspondences between the stock certificate ID and the current owner's user ID are arranged. FIG. 11 is a flowchart showing the processing flow of the electronic stock certificate issuance processing unit 18 of the issuing proxy server 2. Upon receiving the share certificate issuance request 3 2 from the investor client 1 (step 51), the electronic share certificate issuance processing section 18 decrypts the share certificate issuance request 3 2 with the investor client 1's public key to verify the digital signature. (Step 52). Generally digital! The method of verifying ^ is known. If the verification is not successful (NO in step 53), an error is notified to the investor client 1 (step 54). If the verification is successful (YES in step 5 3), the contents of the share certificate issuance request 32 are checked to see if it violates the “certificate policy” of certificate 31 of investor client 1 (step 5). Five ) . If there is a problem (step 56 NO), an error is notified to the investor client 1 (step 57). If there is no problem (step 56 YES), a new stock certificate ID is numbered and electronic stock certificate 11 is created (step 58). Next, the electronic stock certificate 11 and the information of the shareholders are registered in the shareholder registry database 16 (step 59), the created electronic stock certificate 11 is digitally signed by the issuing company, and the information is sent to the investor client 1. (Step 60).

FIG. 12 is a flow chart showing the flow of the stock certificate ID list creation process of the issuing proxy server 2. The issuance agent server 2 obtains information such as the stock certificate ID of the currently valid electronic stock certificate from the shareholder registry database 16 (step 61), creates a stock certificate ID list 21 (step 62), and issues it. The stock certificate ID list 21 with the digital signature of the agent server 2 is sent to the exchange server 3 (step 63).

(3) Trading phase

FIG. 13 is a diagram showing an outline of a processing procedure in the sales transaction phase. The order request processing unit 13 of the investor client 1 sends the digitally signed order request 3 3 to the exchange server 3. At that time, the investor client 1 who is talking about the sell order can prevent short selling by investors who do not own the stock by attaching the acquired electronic stock certificate 11. The electronic stock certificate 1 1 to be sent has been digitally signed by the investor client 1. The order reception processing unit 23 of the exchange server 3 that has received the order request 3 3 performs the order reception processing, and as a result, the order reception response 3 4 with the digital signature of the exchange server 3 is sent to the investor client 1. Send. Upon receiving the order reception response 34, the investor client 1 verifies the digital signature and saves the “order reception number” included in the order reception response 34. By quoting the “order number”, the investor client 1 can inquire of the exchange server 3 about the execution status of the order.

The order matching processing section 24 of the exchange server 3 that has completed the order reception processing is an order matching processing for matching the sell order and the buy order of the investor client 1. I do. The result of the order matching is registered in the order matching list 22. In addition, the stock certificate ID of the stock that has been traded is deleted from the stock certificate ID list 21. At the end of the order matching process, the order matching processing section 24 creates a shareholder name transfer request 3 5 from the order request 3 3 and the corresponding information on the order matching list 22, and adds the digital signature of the exchange server 3 to this. And sends it to the issuing proxy server 2. At that time, we attach the electronic stock certificate 11 attached to the sell order.

Upon receiving the shareholder transfer request 3 5, the transfer agent section 19 of the issuing proxy server 2 performs shareholder transfer processing in order to make the change of the shareholder effective in the books, and the shareholder registry database 1 6 Update the applicable record and record the transfer history in the shareholder transfer history list 17. Finally, the name transfer processing unit 19 creates a shareholder name transfer response 36 from the result of the name transfer process, applies the digital signature of the issuing proxy server 2, and transmits the digital signature to the exchange server 3.

The transaction completion processing unit 25 of the exchange server 3 that received the shareholder name transfer response 3 6 deletes the correspondence between the old stock certificate ID and the user ID from the stock certificate ID list 21 and the correspondence between the new stock certificate ID and the user ID. To the stock certificate ID list 21. In addition, the corresponding order is deleted from the order matching list 22. Next, the transaction completion notice 37 digitally signed is sent to the investor client 1. In addition, a payment request 38 with a digital signature is sent to the payment server 4 in order to settle the transaction. 'The account settlement processing unit 27 of the settlement server 4 refers to the settlement account database 26 and performs settlement between accounts. In addition, the investor client 1 can exercise the right to acquire funds to the settlement server 4 by presenting the transaction completion notice 37 with the digital signature of the exchange server 3 to the settlement server 4.

The investor client 1 receiving the transaction completion notification 37 from the exchange server 3 verifies the digital signature of the transaction completion notification 37, and notifies the investor of the transaction result if the verification is successful. After that, the share certificate issuance request processing unit 12 of the investor client 1 who has requested the buy order creates a share certificate issuance request 39 based on the contents of the transaction completion notification 37, and digitally signs it to issue the agent. Send to person server 2. Upon receiving the share certificate issuance request 3 9, the electronic share certificate issuance processing unit 18 of the issuing agent server 2 performs the electronic share certificate issuance processing V, and digitally signs the created electronic share certificate 11 with the issuing company's digital signature. Sent to investor client 1. The share certificate issuance request processing unit 1 2 stores the received electronic stock certificate 11 in the storage device. 1

Exist.

FIG. 14 is a diagram showing a data structure of the order request 33. In the case of a sell order, the number of “stock certificates ID” corresponding to the “order quantity” is included. “Payment account information” is information encrypted with the public key of payment server 4.

FIG. 15 shows the data structure of the order reception response 34. The “hash value of the order request” is the hash value of the corresponding order request 33, and investor client 1 calculates the hash value of the order request 33 and compares it with this. Therefore, it can be confirmed that the contents of the order request 33 have not been falsified.

FIG. 16 is a diagram showing a data structure of the order matching list 22. The order matching list 22 is a list that summarizes information on the sell orders and buy orders that have been traded.

FIG. 17 is a diagram showing the data structure of the shareholder name transfer request 35. The shareholder name transfer request 35 is information corresponding to the corresponding record of the order matching list 22 and includes the information of the order matching list 22 and the information of the order request 33.

FIG. 18 is a diagram showing a data structure of a shareholder name transfer history list 17. Each record of the shareholder name transfer history list 17 corresponds to the corresponding shareholder name change request 35 and records the history of the record # ^ on the shareholder registry database 16.

FIG. 19 is a diagram showing the data structure of the shareholder name transfer response 36. The shareholder name transfer response 36 is a response to the corresponding shareholder name change request 35, and includes the newly numbered share certificate ID with respect to the old share certificate ID in the shareholder name change request 35. The `` hash value of the shareholder transfer request '' is the hash value of the corresponding shareholder transfer request 35, and the exchange server 3 calculates the hash value of the shareholder transfer request 35. By comparison, it can be confirmed that the content of the shareholder name »Request 35 has not been falsified.

FIG. 20 is a diagram showing a data configuration of the transaction completion notification 37. The transaction completion notification 37 includes the content of the transaction and the “transfer number” quoted when issuing a share certificate to the issuing agent server 2.

FIG. 21 is a diagram showing a data configuration of the settlement request 38. As shown in FIG. The account number included in the payment request 38 is decrypted by the public key of the payment server 4.

FIG. 22 is a diagram showing a data structure of the stock certificate issuance request 39. Request for issuance of share certificates 3 9 Contains the name assigned by the issuing proxy server 2 and information to be added to the shareholder registry database 16. The account information is encrypted using the public key of the settlement server 4.

FIGS. 23A and 23B are flow charts showing the processing flow of the order reception processing section 23 of the exchange server 3. Upon receiving the order request 3 3 (step 7 1), the order reception processing section 2 3 converts the received order request 3 3 and the electronic stock 11 attached to the sell order 1 1 into the investor client 1 and the issuing agent server 2. The digital signature is verified by decrypting with the public key (step 72). If the verification is not successful (NO in step 73), an error is notified to investor client 1 (step 74). If the verification is successful (Step 73 YES), check “Electronic stock certificate expiration date” and “Restriction on transfer of shares” of electronic stock certificate 11 to confirm that they have not been violated (Step 75). — 7 7). Next, confirm that the power attached to the order request 33 does not exceed the scope of the “certificate policy” of certificate 31 of investor client 1 acquired on another occasion (step 7) 8—80). In case of any error, an error notification is issued. Next, moving to Fig. 23b, check whether the "user ID" of the electronic stock certificate 11 attached to the sell order is equal to the "user ID" of the certificate 31: ^ (Steps 8 1-8 3). This check can prevent unauthorized use of the electronic stock certificate 11 by other investors. Next, referring to the stock certificate ID list 21, it is checked that the same stock ID and user ID as the user ID of the electronic stock certificate 11 exist in the stock certificate ID list 21 (step 8 4 — 8 6). This check is for confirming that the electronic stock certificate 11 is a currently valid stock certificate. When the above reception processing is completed normally, the order reception processing section 23 numbers an order reception number according to the order (step 87) and registers it in the unconfirmed order queue. In addition, an order reception response 34 is created, digitally signed, and transmitted to the investor client 1 (step 88).

FIG. 24 is a flowchart showing a processing flow of the order matching processing section 24. The order matching processing section 24 matches the sell order and the buy order taken out of the unexecuted order queue (step 91) to complete the transaction. Next, an order matching number is assigned to a pair of a sell order and a buy order that has been traded (step 92), and order matching information including the order matching number is assigned to an order matching list. Register in step 22 (step 93). Next, the user ID corresponding to the stock certificate ID to be matched with the order is deleted from the stock certificate ID list 21 (step 94). Generally, you should invalidate the correspondence, including deleting it. As a result, it is possible to refuse a sell order by presenting the electronic stock certificate 11 of a fraudulent copy. Next, the order matching processing section 24 creates a shareholder name transfer request 35 from the order request 33 and the corresponding information on the order matching list 22 and digitally signs the electronic share certificate 11 attached thereto. And sends it to the issuing proxy server 2 (step 95).

FIGS. 25A and 25B are flowcharts showing the flow of processing of the name transfer processing unit 19 of the issuing proxy server 2. Upon receiving the shareholder name change request 35 (step 101), the name change processing unit 19 decrypts the shareholder name change request 35 and verifies the digital signature of the shareholder name change request 35 (step 10). 2—104). Next, the electronic stock certificate 11 is decrypted, and the digital signature of the electronic stock certificate 11 is verified (step 105-107). Verification of the electronic stock certificate 11 is performed using the public keys of the exchange server 3 and the issuing agent server 2. If these verifications succeed, it is verified that the share ID and the quantity of shareholder name »m request 35 match the share ID and quantity of electronic share certificate 11 (Step 1 08—1 1 0 ). Next, confirm that the stock certificate ID and user ID described in the electronic stock certificate 11 and the stock certificate ID and user ID of the stock certificate stored in the shareholder registry database 16 match (step 1 1 1 1 1 1 1 3). As a result, it is confirmed that the electronic stock certificate 11 is valid on the shareholder registry database 16, that is, that the name of the stock has not changed.

Next, moving to Fig. 25b, the record corresponding to the received stock certificate ID of the electronic stock certificate 11 is deleted or invalidated from the shareholder registry database 16 (step 1 14), and the new stock certificate ID is numbered (step 1 14). 1 15), a new record is created from the information of the new share certificate ID and the shareholder name transfer request 35 and added to the shareholder registry database 16 (step 1 16). “Stock”, “Stock number” and “Issuance conditions” can be transcribed from the invalidated record. “User ID” is the user ID of the buyer. At this point, the "payment method" is not stored yet. Next, a transfer number is assigned (step 1 17), and a new record is added to the shareholder transfer history list 17 (step 1 18). Finally, a shareholder name transfer response 36 is created, digitally signed, and sent to the exchange server 3 (step 1 19). Error notification Is sent to the exchange server 3 as the shareholder name transfer response 36.

FIG. 26 is a flowchart showing the flow of the process of the transaction completion processing unit 25. Upon receiving the shareholder name reply 36 (step 121), the transaction completion processor 25 decrypts the shareholder name response 36 and verifies the digital signature of the shareholder name transfer response 36 (steps 122-124). If this verification is successful, it is determined whether the #m response 36 in the name of the shareholder is a notification of normal completion or a notification of an error (step 125). If it is completed normally (step 126 YES), the correspondence of the new stock certificate ID and user ID sent is added to the stock certificate ID list 21 (step 127). User ID is the buyer ID of the shareholder name transfer request 35 corresponding to the shareholder name transfer response 36. Next, the corresponding order matching information with the old stock certificate ID is placed in the order matching list.

Delete from step 22 (step 128). Next, digitally signed transaction completion notification

37 is transmitted to the investor client 1 (step 129). Finally, the settlement request 38 is transmitted to the settlement server 4 (step 130). Account information can be obtained from the relevant client's order request. If an error notification is received as the shareholder name transfer response 36 (step 126 NO), the buy order request is returned to the unexecuted order queue (queue waiting) (step 131), and the seller's investor client 1 sends the electronic stock certificate to the seller. 11. Notify that 1 is invalid (step 132).

FIG. 27 is a flowchart showing the processing flow of the electronic stock certificate issuance processing unit 18 of the issuing agent server 2. The share certificate issuance request processing unit 12 of the investor client 1 transmits a digitally signed share certificate issuance request 39 including the numbered name sign ^ to the issuance agent server 2. Upon receiving the share certificate issuance request 39 (step 141), the electronic share certificate issuance processing unit 18 decrypts the share certificate issuance request 39 and verifies the digital signature of the share certificate issuance request 39 (steps 142 to 144). If the verification is successful, the shareholder transfer history list 17 is searched using the “transfer number” in the share certificate issuance request 39 as a key (step 145), and there is a record with the same transfer number. It is determined whether it is (step 146). In this determination, if the user ID in the certificate 31 attached to the share certificate issuance request 39 and the “user ID of the buyer” in the record do not match, it is not determined that the user exists. If not (step 146 NO), an error notification is sent to the investor client 1 (step 147). If it exists (Step 1 46 YES), the shareholder registry data such as “Delivery method” should be The information to be added to the database 16 is added to the corresponding record in the shareholder registry database 16 (step 148). The corresponding record in the shareholder registry database 16 is searched by the stock certificate ID of the record referred to in the shareholder name transfer history list 17. Next, an electronic stock certificate 11 is created based on the corresponding record in the shareholder registry database 16 (step 149), and a digital signature is signed and transmitted to the investor client 1 (step 150).

(4) Transfer phase

FIG. 28 is a diagram illustrating an outline of a processing procedure in the transfer name phase. The investor client 1 that is the transferor of the shares will digitally sign using the certificate 31 owned by the electronic share certificate 11 to be stored, and share the certificate with the certificate 31 of the investor client 1 and the issuing agent server 2. Send it to the investor client 1 of the transferee by e-mail or other means. The transferee investor client 1 performs the signature verification process in the order of verification by the transferor investor client 1 and verification by the issuing agent server 2 certificate 31. In this way, the transferor's digital signature is given to the electronic stock certificate 11 and the transferor's investor client 1 who has received the digital signature verifies the signature, thereby preventing the transferor's investor from being denied. Can be.

When the verification is successful, the transfer request processing unit 14 of the transferee investor client 1 digitally signs the transfer request 41 and transmits the digital signature to the issuing agent server 2. At this time, the digital share certificate 1 1 with the digital signature of the investor client 1 as the transferor is also attached. Upon receiving the transfer request 4 1, the transfer processing section 1 9 verifies the digital signature of the transfer request 4 1, as in the processing of the shareholder transfer request 3 5 received from the exchange server 3, and the electronic share certificate 1 Verification of the digital signature of 1 and transfer of transfer request 41 Check of the content of 1 and comparison of the user ID of the electronic stock certificate 11 with the user ID of the corresponding record on the shareholder registry database 16 are performed. Verification of the electronic stock certificate 11 is performed using the certificate 31 of the transferring investor client 1 and the certificate 31 of the issuing agent server 2. After passing these checks, invalidate the corresponding record with the same stock certificate ID on the shareholder registry database 16, assign a new stock certificate ID, and add a record with the new stock certificate ID to the shareholder registry database 16. . Next, the title book m # is numbered, and a new record is added to the shareholder name »m history list 17. Finally, the name transfer response 4 2 with the digital signature of the issuing agent server 2 is given to the investor client 1 of the transferee. Send. This name change response 42 includes the numbered name change number.

The stock issue request processing unit 12 of the transferee client 1 sends a digitally signed share certificate issue request 43 to the issuing agent server 2. The content of the share certificate issuance request 4 3 is the same as the share certificate issuance request 39. The electronic share certificate issuance processing unit 18 of the issuance agent server 2 verifies the digital signature of the share certificate issuance request 4 3 and applies to the shareholder name #m history list 17 as in the case of receiving the share certificate issuance request 3 9 After checking the existence of the record, the information of the share certificate issuance request 4 3 is added to the relevant record on the shareholder registry database 16 and the electronic share certificate 11 Digitally sign and send to transferee client 1. Thereafter, the issuing proxy server 2 creates a stock certificate ID list 21 with reference to the shareholder registry database 16, applies a digital signature to the list, and sends the digital signature to the exchange server 3.

FIG. 29 is a diagram showing a data structure of the transfer request 41. User ID is the user ID of the transferee.

(5) Stock reissue phase

Figure 30 shows the stock certificate recurring ^? It is a figure showing the outline of the processing procedure of the 亍 phase. Investor client 1 sends a digitally signed holdings inquiry request 4 4 to issuing agent server 2. The shareholding inquiry request 4 4 contains the inquiry contents such as the user ID of the investor client 1, the name of the currently registered stock, the number of shares, and the issued electronic stock certificate 1 1. In response to the shareholding inquiry request 4 4, the issuing agent server 2 verifies the digital signature of the shareholding inquiry request 4 4, and then uses the designated user ID as a key to create a shareholder registry database 16 Search information, create response information on the contents of the inquiry, and transmit the digitally signed holdings inquiry response 45 of the issuing agent server 2 to the investor client 1.

The share certificate issuance request processing unit 12 of the investor client 1 creates a share certificate reissue request 46 based on the response information, applies a digital signature, and transmits the digital signature to the issuance agent server 2. The electronic stock certificate reissue processing unit 20 of the issuing proxy server 2 verifies the digital signature of the stock certificate reissue request 46 using the certificate 31 of the investor client 1, and then uses the user ID as a key to Search the list database 16 and check if there is any problem with the contents of the stock certificate reissue request 4 6. If there is no problem, a new stock ID is numbered and the shareholder registry database 16 is updated. Finally, the contents of the shareholder registry database 1 6 Based on this, a new electronic share certificate 11 is created, digitally signed by the issuing proxy server 2 and transmitted to the investor client 1.

FIG. 31 is a diagram showing a data structure of the stock certificate reissue request 46. The stock certificate reissue request 46 contains the user ID and the content of the reissue request.

According to the second embodiment, the digital certificate 11 is digitally signed by the certificate 31 of the issuing company and the certificate 31 of the owner, and the issuing agent server 2 receiving the digital certificate 11 1 Since the exchange server 3 verifies the digital signature, it is possible to guarantee that the electronic stock certificate 11 has been issued by the issuing company and prevent the electronic stock certificate 11 from being falsified. The issuing agent server 2 and the exchange server 3 that have received the electronic stock certificate 11 are valid for the electronic stock certificate 11 received with reference to the shareholder registry database 16 and the stock ID list 21. Verify that the electronic share certificate of the legitimate owner is 1 1.

In addition, all requests and responses sent between the investor client 1, the issuing agent server 2, the exchange server 3, and the settlement server 4 are digitally signed, and the recipient signs the digital signature. It can verify, check for a match in the user ID, and confirm that it is a valid communication partner. For example, even if a third party makes a request such as a share certificate issuance request 32, an order request 33, a transfer request 41, etc. by impersonating a legitimate investor client 1, it can verify the digital signature applied to these requests. It can eliminate unauthorized requests. Also, falsification of transmission information can be prevented by a digital signature applied to requests and responses. Furthermore, falsification of the request information can be prevented by taking the hash value of the request information and returning the hash value in the response.

In addition, short-selling is prevented by attaching the electronic share certificate 11 to the order request 3 3 of the sell order, and the electronic share certificate 11 is attached to the shareholder name change request 3 5 and the name change request 4 1 by attaching the electronic share certificate 11. ¾ |, that it is a transfer of shares. Furthermore, the validity of the share certificate issuance request 39 and the share certificate issuance request 43 is confirmed by the name and digital signature.

In addition, the exchange server 3 stores the correspondence between the stock ID and the user ID of the valid electronic stock certificate 11 in a stock certificate ID list 2 1, and the issuing agent server 2 stores the shareholder registry database 1 Save to 6. In accordance with the transfer of shareholder ID, the record with the corresponding share ID in the share certificate ID list 2 1 and the shareholder registry data table 6 will be invalidated, and the new share certificate I Numbering D and storing the correspondence with the new user ID in the share certificate ID list 21 and the shareholder registry database 16 prevents duplicate use of the electronic share certificate 11 by copying.

In addition, when investor client 1 makes an order request 3 3 to exchange server 3, when transfer source investor client 1 presents electronic stock certificate 1 1 to transferee client client 1, transferee client 1 Request to the issuing proxy server 2

The digital signature applied at the time of step 1 prevents the denial of the request source.

In addition, when the investor client 1 makes an order request 3 3 to the exchange server 3, when the transferring investor client 1 presents the electronic stock certificate 1 1 to the transferring investor client 1, the transferring investor client 1 1 is the name of the issuing agent server 2 要求 m request 4

The digital signature applied at the time of step 1 prevents the denial of the request source. Then, the issuing proxy server 2 tallies the holding period and the number of shares held for each investor from the name change history, automatically determines dividends, and tallies voting rights and automatically distributes them by e-mail. . Industrial applicability

As described above, according to Embodiment 1 relating to the profit distribution method, the voting right grant method, and the stock selling method according to the present invention, the purchaser who acquired the preferred stock certificate 1 must hold the preferred stock certificate 1 for a predetermined period or more. For example, voting rights and dividends are more favorable than common stock, so we will hold them for as long as possible. On the other hand, once the highest conditions are reached, if the name is changed, the conditions will return to the initial conditions. As a result, the buyers will not relinquish the preferred stock in the event of a TOB, and if they do, their voting rights will decline, and the company's business owners will be able to take advantage of malicious takeover groups and darling. It will be possible to fully counter the strategies that each company will launch. Further, according to the second embodiment, since the electronic stock certificate is moved via the network and each transaction process is performed based on the electronic stock certificate, it is possible to eliminate the inefficient work of the conventional paper base. Transaction processing can be made more efficient. The issuance agent server also allows companies to issue stock certificates without going through securities companies, and investors can submit orders directly to exchanges. In addition, since security measures are taken as described above, various types of fraud can be prevented, and secure transaction processing becomes possible.

Claims

The scope of the claims

1. A profit distribution method in which profit is distributed to shareholders holding the first and second shares with voting rights,

A first step of determining a first dividend for said first share;

Determining a second dividend on the second share;

The second step is to determine the second dividend according to a ratio to the first dividend determined based on a period during which the shareholder holds the second share;

A profit distribution method characterized by the following.

2. In the profit distribution method according to claim 1,

The second step is to determine the second dividend with a higher dividend than the first dividend when a period during which a shareholder holds the second share reaches a predetermined period;

A profit distribution method characterized by the following.

3. In accordance with the method of dividend distribution described in claim 1 or claim 2,

The second step is to determine a ttrlE second dividend with a lower dividend than the first dividend when a shareholder transfers the name of the second share;

A profit distribution method characterized by the following.

4. A voting method for providing voting rights to shareholders holding third and fourth shares,

A third step of determining third voting rights in said third share;

Determining a fourth voting right for said fourth share;

The fourth step is to determine the fourth voting right according to a ratio to the third voting right determined based on a period during which the shareholder holds the fourth share;

Voting method.

5. In the voting method according to claim 4,

The fourth step is to determine the fourth voting right with a higher voting right than the third voting right if the period during which the shareholder holds the fourth share reaches a predetermined period. How to grant voting rights.

6. In the voting method according to claim 4 or claim 5,

In the fourth step, if the shareholder transfers the name of the fourth share, the third voting right Determining the four voting rights with lower voting rights,

Voting method.

7. A stock selling method in which the 5th and 6th shares with voting rights issued by a stock company are sold to investors and other applicants.

The fifth share has the right to receive a fifth dividend, which is determined by the profit company in accordance with the profits;

The sixth share is entitled to a sixth dividend determined in accordance with a ratio to the fifth dividend determined according to a period held by the shareholder,

A stock selling method characterized by the following.

8. In the method for selling shares according to claim 7,

The sixth dividend is higher than the fifth dividend when a period during which a shareholder holds the sixth share reaches a predetermined period;

A stock selling method characterized by the following.

9. In the method for selling shares according to claim 7 or claim 8,

The sixth dividend is lower than the fifth dividend when a shareholder transfers the name of the sixth share;

A stock selling method characterized by the following.

10. The method for selling shares according to any one of claims 7 to 9, wherein the fifth shares and the sixth shares are sold to the purchaser using a communication network.

A stock selling method characterized by the following.

1 1. A stock sales method in which the 7th and 8th shares with voting rights issued by a stock company are sold to purchasers such as investors.

The seventh share has a seventh voting right determined by the stock company,

The eighth share has an eighth voting right determined according to a ratio with the seventh voting right determined based on a period of time held by a shareholder;

A stock selling method characterized by the following.

1 2. In the method of selling shares according to claim 11,

The eighth voting right is larger than the seventh voting right when a period during which a shareholder holds the eighth share reaches a predetermined period; A stock selling method characterized by the following.

13. The method of selling shares according to claim 11 or claim 12, wherein the eighth voting right is smaller than the seventh voting right when a shareholder transfers the name of the eighth share. thing,

株 IS selling method.

14. The method for selling shares according to any one of claims 11 to 13, wherein the seventh share and the eighth share are sold to the purchaser using a communication network.

A stock selling method characterized by the following.