bearer stock; bearer share
A stock certificate that does not record the owner's name; ownership is transferred by physical delivery. Used in financial and legal contexts.
For bearer stocks, the holder of the certificate is treated as the shareholder.
In recent years, the issuance of bearer shares has been declining.
記名株 (registered stock) records the owner's name in the company's shareholder register, unlike 無記名株 which is anonymous and transferable by delivery.
Compound of 無記名 (anonymous, unregistered) and 株 (stock, share). The term is a direct calque from English 'bearer stock' or similar Western financial concepts.