Japanese

Provisional Translation

[Opening remarks:]

Minister)

I would like to talk about the revision of the Corporate Governance Code, which we have announced today. In the revision, the Code places emphasis, after its overall structure having been reviewed, on the importance of companies’ efforts to promote growth investments, from the perspective of encouraging companies to focus on substantive measures toward increased corporate value over the mid-to-long term. The FSA will promote understanding of the aim of the revision and provide follow-ups for both companies and investors. Specifically, we will collect and share good practices to encourage companies to explore and implement governance that is appropriate for them and to provide explanations about such efforts for investors. For investors, on the other hand, we will check the implementation status of dialogue in light of the aim of the Stewardship Code, which is the principle for institutional investors. Through these efforts, we remain firmly committed to corporate governance reform so that companies can make growth investment more actively toward increased corporate value over the mid-to-long term. In addition, in order to disseminate the revision, as well as efforts expected to be made, widely among overseas investors, we have created a video message in English, in which I appear, and have published it today. We would appreciate it if you could refer to the video message and introduce it in your English-language media as necessary.