A Message from the Chairman

The Securities and Exchange Surveillance Commission (SESC) has worked to ensure the fairness and transparency of markets and to protect investors. It has entered its 12th term.

Changes in market structures and advances in digital technology have led to oversight targets expanding and becoming increasingly complicated, sophisticated and globalized. In addition, amid the shift from savings to investment, the investor base is expanding.

In order to appropriately respond to these changes in the environment surrounding the markets, the SESC, as a professional market oversight agency, believes that it must continue to fulfill its mission by utilizing its functions properly on a timely basis. The SESC's functions include broad market monitoring, prompt exercise of administrative functions to conduct investigations and inspections for administrative monetary penalties as well as securities inspections, and strict enforcement against serious and malicious cases.

Under the 12th term as well, the SESC will continue to aim to achieve a virtuous cycle of “Information Gathering, Analysis, and Utilization for Comprehensive Market Oversight”, “Effective and Efficient Investigations and Inspections” and “Effective Initiatives to Enhance Market Discipline” in order to contribute to the sound development of capital markets.

Based on its accumulated market oversight skills and experiences and its cooperation with relevant organizations in Japan and other countries, the SESC will make new innovations, develop capabilities to find out truths, and tackle market oversight with a straight and broad vision. The SESC will continue to fulfill its mission and respond to the trust that you place in us. Your understanding and cooperation would be greatly appreciated.

 

NAKAHARA Ryoichi
Chairman
Securities and Exchange Surveillance Commission
February 2026