December 26, 2014
The Council of Experts Concerning the Corporate Governance Code

Publication of the Exposure Draft of the “Japan’s Corporate Governance Code”
- Seeking Sustainable Corporate Growth and Increased Corporate Value over the Mid- to Long-term -

The Council of Experts Concerning the Corporate Governance Code (Chair: Kazuhito Ikeo, Professor of Economics and Finance, Keio University) has now published the exposure draft of “Japan’s Corporate Governance Code” and started to call for public comments in English.

1. Subject Document of the Call for Public Comments

the exposure draft of the “Japan’s Corporate Governance Code” (PDF:556KB)

2. How to Submit Comments

Please send your comments by email, being sure to include your name, address and company/organization name.

The document is a tentative translation from its Japanese version. We would therefore also welcome any suggestions for a better translation from those who have good language skills both in English and Japanese.

Please use text format when sending comments via email.

Email address: corporategovernance1@fsa.go.jp

Send to: Corporate Accounting and Disclosure Division, Financial Services Agency

3. Notes regarding Our Response

Since this public comments procedure is conducted in order to utilize the received comments for discussions in our meeting, we, the Council of Experts, will decide how we should respond to the respective comment or opinion. It should be noted, however, that we will not respond to the respective comment individually to the submitters.

Also, since the Code adopts the principles-based approach, "(i)t is anticipated that companies that are accountable to shareholders and other stakeholders will apply appropriate interpretations of the terminology in accordance with the aim and spirit of the Code" as stated in Paragraph 10. of the Preamble. Hence, please note that, in many cases, we cannot provide an answer to the questions concerning the definition of the terminologies used in the Code.

4. Deadline

The document is open for comments until January 31, 2015.

Contact

Corporate Accounting and Disclosure Division, Planning and Coordination Bureau, Financial Services Agency
Tel +81-(0)3-3506-6000