Japan Financial Services Agency: Draft Revisions To The “Principles For Responsible Institutional Investors” «Japan’s Stewardship Code» - To Promote Sustainable Growth Of Companies Through Investment And Dialogue - For Public Consultation

Financial Services Agency of Japan has now launched a public consultation on our proposed draft revisions to Japan’s Stewardship Code, based on the discussions by the Expert Panel on the Stewardship Code (2024) (Chairman: Hiroyuki Kansaku, Professor, Gakushuin University, Faculty of Law).

１．Draft revisions of the Japan’s Stewardship Code

The proposed draft is the revised version of Japan’s Stewardship Code (originally developed on 26 February, 2014, revised on 29 May, 2017 and 24 March, 2020). The changes from the current Code are as follows:
 - Track changes in red include transparency of beneficial shareholders and collaborative engagement.
 - Track changes in blue are revisions from the perspective of streamlining the Code.

The "Revision of the Stewardship Code" consists of three parts: "Background", "Key concepts of the review," and "Issues for Consultation." Comments are invited to respond to the questions specified in the "Issues for Consultation."

Please refer to Material 1, 2 for specific detail.

2． How to submit comments

Responses should be sent by mail or email indicating your name (or the name of the corporation or organisation), occupation (or the industry of the corporation or organisation), and contact information (address, telephone number, or e-mail address), by 5 p.m. Sunday 20 April 2025 (JST).

Comments by mail should be sent to the postal address below. Comments should be arrived by the deadline above.

Comments by email should be sent to <jstewardship★fsa.go.jp>.
   *Please replace the “★” with “@”.

Please be advised that the name of the person (or the name of a corporation or organisation) submitting the comment will be disclosed along with the content of the comment upon request for disclosure. If you wish to remain anonymous at the time of disclosure, please indicate clearly at the beginning of your comment. In addition, when disclosing any comment details, if the comment contains (1) personal identifiable information about an individual, or (2) statements that could infringe on the rights, competitive position, or other legitimate interests of a corporation or other entity, we may withhold that part at the time of disclosure.

Personal information, such as telephone numbers, will be used to contact you in case we would like to clarify the content of your opinion, or to confirm your position regarding your opinion.

Please note that we will not respond to your comments individually.

Material 1

Draft revisions to the "Principles for Responsible Institutional Investors” «Japan’s Stewardship Code» - To promote sustainable growth of companies through investment and dialogue

Material 2

Revision of the Stewardship Code