Why does the payment of capital during incorporation have to be coursed through an individual’s bank account?
★ Explanation ★
During the incorporation of a stock company, an incorporator must, without delay, pay in the entire sum of monies relating to the incorporator’s contribution (Companies Act, Article 34, paragraph (1)). The contribution in money indicated above must be paid through deposit in a bank (Companies Act, paragraph (2)).
Source: Japanese Law Translation Database System
The deposit account where the capital contribution(s) will be placed into is the personal bank account of the incorporator. If the incorporator is a company, the bank account will be that of the company.
If there is more than one incorporator, they can either choose to delegate one incorporator whose account will be used, or individually pay their own capital contributions to their individual bank accounts.
If an incorporator does not have a bank account with a Japanese financial institution, they may perform their contribution through the account of a director (or representative director). However, as this entails that one incorporator would become a director or a representative director upon incorporation, a power of attorney (authorization letter) that authorizes the [representative] director at incorporation to receive capital should be an attachment to the application for company registration.
Source: The Ministry of Justice