Whereas the Allied Powers and Japan are resolved that henceforth their relations shall be those of nations which, as sovereign equals, cooperate in friendly association to promote their common welfare and to maintain international peace and security, and are therefore desirous of concluding a Treaty of Peace which will settle questions outstanding as a result of the existence of a state of war between them;
Whereas Japan for its part declares its intention to apply for membership in the United Nations and in all circumstances to conform to the principles of the Charter of the United Nations; to strive to realise the objectives of the Universal Declaration of Human Rights; to seek to create within Japan conditions of stability and well-being as defined in Articles 55 and 56 of the Charter of the UN and already initiated by post-surrender Japanese legislation; and in public and private trade and commerce to conform to internationally accepted fair practices;
Whereas the Allied Powers welcome the intentions of Japan set out in the foregoing paragraph;
The Allied Powers and Japan have therefore determined to conclude the present Treaty of Peace, and have accordingly appointed the undersigned plenipotentiaries who, after presentation of their full powers, found in good and due form, have agreed on the following provisions:
CHAPTER ONE - PEACE
a) the state of war between Japan and each of the Allied Powers is terminated as from the date on which the present Treaty comes into force between Japan and the Allied Power concerned, as provided for in Article 23.
b) The Allied Powers recognise the full sovereignty of the Japanese people over Japan and its territorial waters.
CHAPTER TWO - TERRITORY
a) Japan, recognising the independence of Korea, renounces all right, title and claim to Korea, including the islands of Quelpart, Port Hamilton and Dagelet.
b) Japan renounces all right, title and claim to Formosa and the Pescadores
c) Japan renounces all right, title and claim to the Kurile Islands, and to that portion of Sakhalin and the islands adjacent to it over which Japan acquired sovereignty as a consequence of the Treaty of Portsmouth of September 5th, 1905.
d) Japan renounces all right, title and claim in connection with the League of Nations Mandate System, and accepts the action of the UN Security Council of April 2nd, 1947, extending the trusteeship system to the Pacific islands formerly under mandate to Japan.
e) Japan renounces all claim to any right or title to or interest in connection with any part of the Antarctic area, whether deriving from the activities of Japanese nationals or otherwise.
f) Japan renounces all right, title and claim to the Spratly Islands and to the Paracel Islands.
Japan will concur with any proposal of the United States to the United Nations to place under its trusteeship system with the United States as the sole administering authority, Nansei Shoto south of 29 degrees north latitude (including the Ryukyu Islands and the Daito Islands), Nanpo Shoto south of Sofu Can (including the Bonin Islands, Rosario Island, and the Volcano Islands) and Parece Vela and Marcus Island. Pending the making of such a proposal and affirmative action thereon, the United States will have the right to exercise all and any powers of administration, legislation and jurisdiction over the territory and inhabitants of these islands, including their territorial waters.