Japan’s Financial Services Agency Publishes Summary Of Issues For The Improved Operations Of EDINET

On January 25, 2008, erroneous large shareholdings reports, claiming acquisition of shares of six listed companies (amounting to no less than 20 trillion yen ($190 billion)), were submitted and disclosed through EDINET (Electronic Disclosure for Investors' NETwork).

In response to this case, the FSA set up a Working Group primarily comprised of on-the-job practitioners to examine measures aimed at preventing recurrence of similar cases and contingency management for the disclosure requirements of large shareholdings reports and EDINET. The Working Group held a total of four meetings and, based on the deliberations conducted, published a “Summary of Issues for the Improved Operations of EDINET” on February 19, 2008. Please refer to the following attachments./P>

Attachment 1: Outline of the Summary of Issues for the Improved Operations of EDINET (provisional translation) (PDF:62K)

Attachment 2: Summary of Issues for the Improved Operations of EDINET (provisional translation) (PDF:175K)