Japanese
(Provisional Translation)
July 9, 2020
Financial Services Agency
(Japanese version: published May 29, 2020)
Publication of "Q&A on the Disclosure of Narrative Information Regarding the Impact of COVID-19 Infection – Key Points for Better Disclosure for Investors –"
The spread of COVID-19 infection is broadly affecting the economic activities of listed companies. Under such an uncertain business environment, the sufficient disclosure of corporate information from the viewpoint of the management is important for investors' investment decisions.
The FSA decided to compile key points for preferable disclosure of information regarding the impact of COVID-19 infection as narrative information in securities reports, based on the opinions of investors and analysts participating in the working group for the compilation titled "Best Practices for the Disclosure of Narrative Information" (finally updated on December 20, 2019), and to publicize them in the form of a Q&A.
In line with the principle-base guidance, "Principles Regarding the Disclosure of Narrative Information" (publicized on March 19, 2019), this Q&A was compiled with the aim of promoting companies' efforts to enhance their information disclosure regarding the impact of COVID-19 infection, which should be more than just a formal response to the rules, and is not intended to add new disclosure items.
Companies' efforts to enhance their information disclosure regarding the impact of COVID-19 infection will help investors make appropriate investment decisions, and will contribute to enhancing and maintaining sustainable corporate value through constructive dialogues between investors and companies and further contribute to improving the reliability of the Japanese capital markets.
Companies are strongly recommended to make efforts for enhanced disclosure of information regarding the impact of COVID-19 infection on their business, while referring to this Q&A.
![]() ![]() |
(Reference)
FSA "Notice Regarding the Disclosure of Corporate Information Concerning the Impact of the COVID-19 Infection"
(publicized on June 4, 2020)
Site Map
- Press Releases & Public RelationsPage list Open
- Press Releases
- Press Conferences
- Official Statements
- FSA Weekly Review & ACCESS FSA
- Speeches
- For Financial Users
- Others
- Archives
- Laws & RegulationsPage list Open
- Name of Laws and Regulations(PDF)
- Recent Changes (Legislation, Ordinances, Guidelines)
- Guidelines
- Financial Instruments and Exchange Act
- Financial Monitoring Policy
- Public Comment
- No-Action Letter System
- Procedures concerning Foreign Account Management Institutions