diff --git a/compiler/fir/fir2ir/tests-gen/org/jetbrains/kotlin/test/runners/codegen/FirBlackBoxCodegenTestGenerated.java b/compiler/fir/fir2ir/tests-gen/org/jetbrains/kotlin/test/runners/codegen/FirBlackBoxCodegenTestGenerated.java
index 0fc25a7df9d..00b513aa0f0 100644
--- a/compiler/fir/fir2ir/tests-gen/org/jetbrains/kotlin/test/runners/codegen/FirBlackBoxCodegenTestGenerated.java
+++ b/compiler/fir/fir2ir/tests-gen/org/jetbrains/kotlin/test/runners/codegen/FirBlackBoxCodegenTestGenerated.java
@@ -12774,6 +12774,12 @@ public class FirBlackBoxCodegenTestGenerated extends AbstractFirBlackBoxCodegenT
             runTest("compiler/testData/codegen/box/delegatedProperty/kt4138.kt");
         }
 
+        @Test
+        @TestMetadata("kt45431.kt")
+        public void testKt45431() throws Exception {
+            runTest("compiler/testData/codegen/box/delegatedProperty/kt45431.kt");
+        }
+
         @Test
         @TestMetadata("kt6722.kt")
         public void testKt6722() throws Exception {
diff --git a/compiler/ir/backend.jvm/src/org/jetbrains/kotlin/backend/jvm/codegen/ClassCodegen.kt b/compiler/ir/backend.jvm/src/org/jetbrains/kotlin/backend/jvm/codegen/ClassCodegen.kt
index d2dd80df2e6..9e595efa5df 100644
--- a/compiler/ir/backend.jvm/src/org/jetbrains/kotlin/backend/jvm/codegen/ClassCodegen.kt
+++ b/compiler/ir/backend.jvm/src/org/jetbrains/kotlin/backend/jvm/codegen/ClassCodegen.kt
@@ -133,7 +133,10 @@ class ClassCodegen private constructor(
         irClass.functions.find { it.name.asString() == "<clinit>" }?.let { generateMethod(it, smap, delegatedPropertyOptimizer) }
         // 3. Now we have all the fields (`$$delegatedProperties` might be redundant if all reads were optimized out):
         for (field in irClass.fields) {
-            if (field !== delegatedProperties || delegatedPropertyOptimizer?.needsDelegatedProperties == true) {
+            if (field !== delegatedProperties ||
+                delegatedPropertyOptimizer?.needsDelegatedProperties == true ||
+                irClass.isCompanion
+            ) {
                 generateField(field)
             }
         }
@@ -326,7 +329,7 @@ class ClassCodegen private constructor(
         val (node, smap) = generateMethodNode(method)
         if (delegatedPropertyOptimizer != null) {
             delegatedPropertyOptimizer.transform(node)
-            if (method.name.asString() == "<clinit>") {
+            if (method.name.asString() == "<clinit>" && !irClass.isCompanion) {
                 delegatedPropertyOptimizer.transformClassInitializer(node)
             }
         }
diff --git a/compiler/testData/codegen/box/delegatedProperty/kt45431.kt b/compiler/testData/codegen/box/delegatedProperty/kt45431.kt
new file mode 100644
index 00000000000..71e7286fed6
--- /dev/null
+++ b/compiler/testData/codegen/box/delegatedProperty/kt45431.kt
@@ -0,0 +1,16 @@
+// WITH_RUNTIME
+
+import kotlin.reflect.KProperty
+
+class DP {
+    operator fun provideDelegate(t: Any?, kp: KProperty<*>) =
+        lazy { "OK" }
+}
+
+class H {
+    companion object {
+        val property: String by DP()
+    }
+}
+
+fun box() = H.property
diff --git a/compiler/testData/codegen/bytecodeListing/delegatedPropertiesInCompanionObject.kt b/compiler/testData/codegen/bytecodeListing/delegatedPropertiesInCompanionObject.kt
new file mode 100644
index 00000000000..9bbc23bc54d
--- /dev/null
+++ b/compiler/testData/codegen/bytecodeListing/delegatedPropertiesInCompanionObject.kt
@@ -0,0 +1,20 @@
+// WITH_RUNTIME
+
+import kotlin.reflect.KProperty
+
+class DP {
+    operator fun provideDelegate(t: Any?, kp: KProperty<*>) =
+        lazy { "OK" }
+}
+
+class H1 {
+    companion object {
+        val property: String by DP()
+    }
+}
+
+class H2 {
+    companion object {
+        val property: String by lazy { "OK" }
+    }
+}
diff --git a/compiler/testData/codegen/bytecodeListing/delegatedPropertiesInCompanionObject.txt b/compiler/testData/codegen/bytecodeListing/delegatedPropertiesInCompanionObject.txt
new file mode 100644
index 00000000000..9d39f7c801a
--- /dev/null
+++ b/compiler/testData/codegen/bytecodeListing/delegatedPropertiesInCompanionObject.txt
@@ -0,0 +1,74 @@
+@kotlin.Metadata
+final class DP$provideDelegate$1 {
+    // source: 'delegatedPropertiesInCompanionObject.kt'
+    enclosing method DP.provideDelegate(Ljava/lang/Object;Lkotlin/reflect/KProperty;)Lkotlin/Lazy;
+    public final static field INSTANCE: DP$provideDelegate$1
+    inner (anonymous) class DP$provideDelegate$1
+    static method <clinit>(): void
+    method <init>(): void
+    public synthetic bridge method invoke(): java.lang.Object
+    public final @org.jetbrains.annotations.NotNull method invoke(): java.lang.String
+}
+
+@kotlin.Metadata
+public final class DP {
+    // source: 'delegatedPropertiesInCompanionObject.kt'
+    inner (anonymous) class DP$provideDelegate$1
+    public method <init>(): void
+    public final @org.jetbrains.annotations.NotNull method provideDelegate(@org.jetbrains.annotations.Nullable p0: java.lang.Object, @org.jetbrains.annotations.NotNull p1: kotlin.reflect.KProperty): kotlin.Lazy
+}
+
+@kotlin.Metadata
+public final class H1$Companion {
+    // source: 'delegatedPropertiesInCompanionObject.kt'
+    synthetic final static field $$delegatedProperties: kotlin.reflect.KProperty[]
+    static method <clinit>(): void
+    private method <init>(): void
+    public synthetic method <init>(p0: kotlin.jvm.internal.DefaultConstructorMarker): void
+    public final @org.jetbrains.annotations.NotNull method getProperty(): java.lang.String
+    public final inner class H1$Companion
+}
+
+@kotlin.Metadata
+public final class H1 {
+    // source: 'delegatedPropertiesInCompanionObject.kt'
+    public final static @org.jetbrains.annotations.NotNull field Companion: H1$Companion
+    private final static @org.jetbrains.annotations.NotNull field property$delegate: kotlin.Lazy
+    static method <clinit>(): void
+    public method <init>(): void
+    public synthetic final static method access$getProperty$cp(): kotlin.Lazy
+    public final inner class H1$Companion
+}
+
+@kotlin.Metadata
+final class H2$Companion$property$2 {
+    // source: 'delegatedPropertiesInCompanionObject.kt'
+    enclosing class H2
+    public final static field INSTANCE: H2$Companion$property$2
+    inner (anonymous) class H2$Companion$property$2
+    static method <clinit>(): void
+    method <init>(): void
+    public synthetic bridge method invoke(): java.lang.Object
+    public final @org.jetbrains.annotations.NotNull method invoke(): java.lang.String
+}
+
+@kotlin.Metadata
+public final class H2$Companion {
+    // source: 'delegatedPropertiesInCompanionObject.kt'
+    private method <init>(): void
+    public synthetic method <init>(p0: kotlin.jvm.internal.DefaultConstructorMarker): void
+    public final @org.jetbrains.annotations.NotNull method getProperty(): java.lang.String
+    public final inner class H2$Companion
+}
+
+@kotlin.Metadata
+public final class H2 {
+    // source: 'delegatedPropertiesInCompanionObject.kt'
+    public final static @org.jetbrains.annotations.NotNull field Companion: H2$Companion
+    private final static @org.jetbrains.annotations.NotNull field property$delegate: kotlin.Lazy
+    inner (anonymous) class H2$Companion$property$2
+    static method <clinit>(): void
+    public method <init>(): void
+    public synthetic final static method access$getProperty$cp(): kotlin.Lazy
+    public final inner class H2$Companion
+}
diff --git a/compiler/testData/codegen/bytecodeListing/delegatedPropertiesInCompanionObject_ir.txt b/compiler/testData/codegen/bytecodeListing/delegatedPropertiesInCompanionObject_ir.txt
new file mode 100644
index 00000000000..e4f0b669092
--- /dev/null
+++ b/compiler/testData/codegen/bytecodeListing/delegatedPropertiesInCompanionObject_ir.txt
@@ -0,0 +1,76 @@
+@kotlin.Metadata
+final class DP$provideDelegate$1 {
+    // source: 'delegatedPropertiesInCompanionObject.kt'
+    enclosing method DP.provideDelegate(Ljava/lang/Object;Lkotlin/reflect/KProperty;)Lkotlin/Lazy;
+    public final static field INSTANCE: DP$provideDelegate$1
+    inner (anonymous) class DP$provideDelegate$1
+    static method <clinit>(): void
+    method <init>(): void
+    public synthetic bridge method invoke(): java.lang.Object
+    public final @org.jetbrains.annotations.NotNull method invoke(): java.lang.String
+}
+
+@kotlin.Metadata
+public final class DP {
+    // source: 'delegatedPropertiesInCompanionObject.kt'
+    inner (anonymous) class DP$provideDelegate$1
+    public method <init>(): void
+    public final @org.jetbrains.annotations.NotNull method provideDelegate(@org.jetbrains.annotations.Nullable p0: java.lang.Object, @org.jetbrains.annotations.NotNull p1: kotlin.reflect.KProperty): kotlin.Lazy
+}
+
+@kotlin.Metadata
+public final class H1$Companion {
+    // source: 'delegatedPropertiesInCompanionObject.kt'
+    synthetic final static field $$delegatedProperties: kotlin.reflect.KProperty[]
+    static method <clinit>(): void
+    private method <init>(): void
+    public synthetic method <init>(p0: kotlin.jvm.internal.DefaultConstructorMarker): void
+    public final @org.jetbrains.annotations.NotNull method getProperty(): java.lang.String
+    public final inner class H1$Companion
+}
+
+@kotlin.Metadata
+public final class H1 {
+    // source: 'delegatedPropertiesInCompanionObject.kt'
+    public final static @org.jetbrains.annotations.NotNull field Companion: H1$Companion
+    private final static @org.jetbrains.annotations.NotNull field property$delegate: kotlin.Lazy
+    static method <clinit>(): void
+    public method <init>(): void
+    public synthetic final static method access$getProperty$delegate$cp(): kotlin.Lazy
+    public final inner class H1$Companion
+}
+
+@kotlin.Metadata
+final class H2$Companion$property$2 {
+    // source: 'delegatedPropertiesInCompanionObject.kt'
+    enclosing method H2.<clinit>()V
+    public final static field INSTANCE: H2$Companion$property$2
+    inner (anonymous) class H2$Companion$property$2
+    static method <clinit>(): void
+    method <init>(): void
+    public synthetic bridge method invoke(): java.lang.Object
+    public final @org.jetbrains.annotations.NotNull method invoke(): java.lang.String
+}
+
+@kotlin.Metadata
+public final class H2$Companion {
+    // source: 'delegatedPropertiesInCompanionObject.kt'
+    synthetic final static field $$delegatedProperties: kotlin.reflect.KProperty[]
+    static method <clinit>(): void
+    private method <init>(): void
+    public synthetic method <init>(p0: kotlin.jvm.internal.DefaultConstructorMarker): void
+    public final @org.jetbrains.annotations.NotNull method getProperty(): java.lang.String
+    public final inner class H2$Companion
+}
+
+@kotlin.Metadata
+public final class H2 {
+    // source: 'delegatedPropertiesInCompanionObject.kt'
+    public final static @org.jetbrains.annotations.NotNull field Companion: H2$Companion
+    private final static @org.jetbrains.annotations.NotNull field property$delegate: kotlin.Lazy
+    inner (anonymous) class H2$Companion$property$2
+    static method <clinit>(): void
+    public method <init>(): void
+    public synthetic final static method access$getProperty$delegate$cp(): kotlin.Lazy
+    public final inner class H2$Companion
+}
diff --git a/compiler/tests-common-new/tests-gen/org/jetbrains/kotlin/test/runners/codegen/BlackBoxCodegenTestGenerated.java b/compiler/tests-common-new/tests-gen/org/jetbrains/kotlin/test/runners/codegen/BlackBoxCodegenTestGenerated.java
index b97a8f4da7a..9863970bf21 100644
--- a/compiler/tests-common-new/tests-gen/org/jetbrains/kotlin/test/runners/codegen/BlackBoxCodegenTestGenerated.java
+++ b/compiler/tests-common-new/tests-gen/org/jetbrains/kotlin/test/runners/codegen/BlackBoxCodegenTestGenerated.java
@@ -12774,6 +12774,12 @@ public class BlackBoxCodegenTestGenerated extends AbstractBlackBoxCodegenTest {
             runTest("compiler/testData/codegen/box/delegatedProperty/kt4138.kt");
         }
 
+        @Test
+        @TestMetadata("kt45431.kt")
+        public void testKt45431() throws Exception {
+            runTest("compiler/testData/codegen/box/delegatedProperty/kt45431.kt");
+        }
+
         @Test
         @TestMetadata("kt6722.kt")
         public void testKt6722() throws Exception {
diff --git a/compiler/tests-common-new/tests-gen/org/jetbrains/kotlin/test/runners/codegen/IrBlackBoxCodegenTestGenerated.java b/compiler/tests-common-new/tests-gen/org/jetbrains/kotlin/test/runners/codegen/IrBlackBoxCodegenTestGenerated.java
index b6c4355249a..515dd3d90cb 100644
--- a/compiler/tests-common-new/tests-gen/org/jetbrains/kotlin/test/runners/codegen/IrBlackBoxCodegenTestGenerated.java
+++ b/compiler/tests-common-new/tests-gen/org/jetbrains/kotlin/test/runners/codegen/IrBlackBoxCodegenTestGenerated.java
@@ -12774,6 +12774,12 @@ public class IrBlackBoxCodegenTestGenerated extends AbstractIrBlackBoxCodegenTes
             runTest("compiler/testData/codegen/box/delegatedProperty/kt4138.kt");
         }
 
+        @Test
+        @TestMetadata("kt45431.kt")
+        public void testKt45431() throws Exception {
+            runTest("compiler/testData/codegen/box/delegatedProperty/kt45431.kt");
+        }
+
         @Test
         @TestMetadata("kt6722.kt")
         public void testKt6722() throws Exception {
diff --git a/compiler/tests-gen/org/jetbrains/kotlin/codegen/BytecodeListingTestGenerated.java b/compiler/tests-gen/org/jetbrains/kotlin/codegen/BytecodeListingTestGenerated.java
index 818a87166a0..91de574ba02 100644
--- a/compiler/tests-gen/org/jetbrains/kotlin/codegen/BytecodeListingTestGenerated.java
+++ b/compiler/tests-gen/org/jetbrains/kotlin/codegen/BytecodeListingTestGenerated.java
@@ -80,6 +80,11 @@ public class BytecodeListingTestGenerated extends AbstractBytecodeListingTest {
         runTest("compiler/testData/codegen/bytecodeListing/defaultImpls.kt");
     }
 
+    @TestMetadata("delegatedPropertiesInCompanionObject.kt")
+    public void testDelegatedPropertiesInCompanionObject() throws Exception {
+        runTest("compiler/testData/codegen/bytecodeListing/delegatedPropertiesInCompanionObject.kt");
+    }
+
     @TestMetadata("delegationToJavaInterfaceWithWildcardType.kt")
     public void testDelegationToJavaInterfaceWithWildcardType() throws Exception {
         runTest("compiler/testData/codegen/bytecodeListing/delegationToJavaInterfaceWithWildcardType.kt");
diff --git a/compiler/tests-gen/org/jetbrains/kotlin/codegen/LightAnalysisModeTestGenerated.java b/compiler/tests-gen/org/jetbrains/kotlin/codegen/LightAnalysisModeTestGenerated.java
index 315d1dc4477..13d5b3350cd 100644
--- a/compiler/tests-gen/org/jetbrains/kotlin/codegen/LightAnalysisModeTestGenerated.java
+++ b/compiler/tests-gen/org/jetbrains/kotlin/codegen/LightAnalysisModeTestGenerated.java
@@ -10411,6 +10411,11 @@ public class LightAnalysisModeTestGenerated extends AbstractLightAnalysisModeTes
             runTest("compiler/testData/codegen/box/delegatedProperty/kt4138.kt");
         }
 
+        @TestMetadata("kt45431.kt")
+        public void testKt45431() throws Exception {
+            runTest("compiler/testData/codegen/box/delegatedProperty/kt45431.kt");
+        }
+
         @TestMetadata("kt6722.kt")
         public void testKt6722() throws Exception {
             runTest("compiler/testData/codegen/box/delegatedProperty/kt6722.kt");
diff --git a/compiler/tests-gen/org/jetbrains/kotlin/codegen/ir/IrBytecodeListingTestGenerated.java b/compiler/tests-gen/org/jetbrains/kotlin/codegen/ir/IrBytecodeListingTestGenerated.java
index 968c74442fe..2b3eef26e2c 100644
--- a/compiler/tests-gen/org/jetbrains/kotlin/codegen/ir/IrBytecodeListingTestGenerated.java
+++ b/compiler/tests-gen/org/jetbrains/kotlin/codegen/ir/IrBytecodeListingTestGenerated.java
@@ -80,6 +80,11 @@ public class IrBytecodeListingTestGenerated extends AbstractIrBytecodeListingTes
         runTest("compiler/testData/codegen/bytecodeListing/defaultImpls.kt");
     }
 
+    @TestMetadata("delegatedPropertiesInCompanionObject.kt")
+    public void testDelegatedPropertiesInCompanionObject() throws Exception {
+        runTest("compiler/testData/codegen/bytecodeListing/delegatedPropertiesInCompanionObject.kt");
+    }
+
     @TestMetadata("delegationToJavaInterfaceWithWildcardType.kt")
     public void testDelegationToJavaInterfaceWithWildcardType() throws Exception {
         runTest("compiler/testData/codegen/bytecodeListing/delegationToJavaInterfaceWithWildcardType.kt");
diff --git a/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/es6/semantics/IrJsCodegenBoxES6TestGenerated.java b/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/es6/semantics/IrJsCodegenBoxES6TestGenerated.java
index 648e4ca8177..6a2c595488d 100644
--- a/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/es6/semantics/IrJsCodegenBoxES6TestGenerated.java
+++ b/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/es6/semantics/IrJsCodegenBoxES6TestGenerated.java
@@ -9294,6 +9294,11 @@ public class IrJsCodegenBoxES6TestGenerated extends AbstractIrJsCodegenBoxES6Tes
             runTest("compiler/testData/codegen/box/delegatedProperty/kt4138.kt");
         }
 
+        @TestMetadata("kt45431.kt")
+        public void testKt45431() throws Exception {
+            runTest("compiler/testData/codegen/box/delegatedProperty/kt45431.kt");
+        }
+
         @TestMetadata("kt6722.kt")
         public void testKt6722() throws Exception {
             runTest("compiler/testData/codegen/box/delegatedProperty/kt6722.kt");
diff --git a/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/ir/semantics/IrJsCodegenBoxTestGenerated.java b/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/ir/semantics/IrJsCodegenBoxTestGenerated.java
index 13e8b6d6de1..533f1e5e59b 100644
--- a/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/ir/semantics/IrJsCodegenBoxTestGenerated.java
+++ b/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/ir/semantics/IrJsCodegenBoxTestGenerated.java
@@ -8751,6 +8751,11 @@ public class IrJsCodegenBoxTestGenerated extends AbstractIrJsCodegenBoxTest {
             runTest("compiler/testData/codegen/box/delegatedProperty/kt4138.kt");
         }
 
+        @TestMetadata("kt45431.kt")
+        public void testKt45431() throws Exception {
+            runTest("compiler/testData/codegen/box/delegatedProperty/kt45431.kt");
+        }
+
         @TestMetadata("kt6722.kt")
         public void testKt6722() throws Exception {
             runTest("compiler/testData/codegen/box/delegatedProperty/kt6722.kt");
diff --git a/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/semantics/JsCodegenBoxTestGenerated.java b/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/semantics/JsCodegenBoxTestGenerated.java
index 4da07532996..aa9bc8aeec9 100644
--- a/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/semantics/JsCodegenBoxTestGenerated.java
+++ b/js/js.tests/tests-gen/org/jetbrains/kotlin/js/test/semantics/JsCodegenBoxTestGenerated.java
@@ -8751,6 +8751,11 @@ public class JsCodegenBoxTestGenerated extends AbstractJsCodegenBoxTest {
             runTest("compiler/testData/codegen/box/delegatedProperty/kt4138.kt");
         }
 
+        @TestMetadata("kt45431.kt")
+        public void testKt45431() throws Exception {
+            runTest("compiler/testData/codegen/box/delegatedProperty/kt45431.kt");
+        }
+
         @TestMetadata("kt6722.kt")
         public void testKt6722() throws Exception {
             runTest("compiler/testData/codegen/box/delegatedProperty/kt6722.kt");