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  "domain": "structured-finance",
  "title": "TMK (特定目的会社) special-purpose-company mechanics",
  "entry_type": "wiki_entry",
  "frontmatter": {
    "title": "TMK (特定目的会社) special-purpose-company mechanics",
    "aliases": [
      "tmk-special-purpose-company-mechanics",
      "TMK",
      "Tokutei Mokuteki Kaisha",
      "特定目的会社",
      "Japan SPC Act",
      "Asset Securitization Act TMK",
      "TMK listed CMBS Japan",
      "TMK tax treatment Japan",
      "TMK vs GK-TK"
    ],
    "domain": "structured-finance",
    "type": null,
    "created": "2026-05-25",
    "last_updated": "2026-07-29",
    "last_tended": "2026-07-29",
    "review_by": "2027-01-29",
    "confidence": "likely",
    "tags": [
      "structured-finance",
      "tmk",
      "spv",
      "asset-securitization-law",
      "japan"
    ],
    "status": "active",
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    "note": null,
    "sources": [
      "https://laws.e-gov.go.jp/law/410AC0000000105",
      "https://laws.e-gov.go.jp/law/332AC0000000026",
      "https://www.nta.go.jp/about/organization/ntc/kenkyu/ronsou/40/kageyama/ronsou.pdf",
      "https://laws.e-gov.go.jp/law/326AC1000000198"
    ]
  },
  "summary": "A TMK is a specified-purpose company under Japan's Asset Securitization Act. It follows the Act's notification and asset-liquidation-plan requirements and may use the instruments authorized by the statute and plan. TMK status alone does not establish public offering, exchange listing, tax pass-throu",
  "headings": [
    "TMK (特定目的会社) special-purpose-company mechanics",
    "TL;DR",
    "Wiki route",
    "1. Statutory identity",
    "2. Instruments",
    "3. Conditional tax treatment",
    "4. Comparison with GK plus TK",
    "5. TMK and investment corporations",
    "6. Named CMBS or other transaction",
    "7. Governance and ongoing obligations"
  ],
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    "external_links_count": 6,
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      "https://laws.e-gov.go.jp/law/132AC0000000048",
      "https://laws.e-gov.go.jp/law/326AC1000000198",
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