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Enhancing Corporate Governance

The Council of Experts Concerning the Follow-up of Japan’s Stewardship Code and Japan’s Corporate Governance Code

The Japan Revitalization Strategy as revised in 2015 (Cabinet Decision, June 30, 2015) states that "we need to work actively to prevail and to promote the adoption of Japan's Stewardship Code, established and released in February 2014 ("JSC"), and Japan's Corporate Governance Code, which entered into force in June 2015 ("JCGC"), as ‘the two wheels of a cart' such that the sustainable growth of companies will be promoted by both sides of investors and companies.

Further improvements of corporate governance, e.g., making governance function not only formally, but also effectively, continue to be a major agenda, and we need to link such efforts to the establishment of a virtuous economic cycle.

In this respect, for the purpose of following up with the prevalence and adoption of JSC and JCGC as well as further improving corporate governance of all listed companies, TSE and the Financial Services Agency (FSA) jointly establish the "Council of Experts Concerning the Follow-up of Japan's Stewardship Code and Japan's Corporate Governance Code".

Establishment of "Council of Experts Concerning the Follow-up of Japan's Stewardship Code and Japan's Corporate Governance Code"

List of members of the Council

Statements

Action Program for Accelerating Corporate Governance Reform: From Form to Substance

Revisions of Japan's Coporate Governance Code and Guidelines for Investor and Company Engagement（including Appendix1 and Appendix2）

Board Effectiveness and Ensuring Diversity in the Core Human Resources in Companies for Post-COVID Transformation of Companies(Dec. 18, 2020)

Revision of the Corporate Governance Code and Establishment of Guidelines for Investor and Company Engagement (Mar 26, 2018)

Effective Stewardship Activities of Institutional Investors - To Enhance Constructive Dialogue toward Sustainable Corporate Growth - (Nov. 30, 2016)

Corporate Boards Seeking Sustainable Corporate Growth and Increased Corporate Value over the Mid - to Long - Term (Feb. 18, 2016)

Responses to the Corporate Governance Code and Next Steps of the “Council of Experts Concerning the Follow-Up of Japan’s Stewardship Code and Japan’s Corporate Governance Code” (Oct. 10, 2015)

Councils (Meeting Minutes)

For materials used at each meeting, please see below.
Materials (FSA Website)

Date	Minutes
The Twenty-Eighth Council on April 19, 2023	Minutes (FSA Website)
The Twenty-Seventh Council on May 16, 2022	Minutes (FSA Website)
The Twenty-Sixth Council on March 31, 2021	Minutes (FSA Website)
The Twenty-Fifth Council on March 9, 2021	Minutes (FSA Website)
The Twenty-Forth Council on February 15, 2021	Minutes (FSA Website)
The Twenty-Third Council on January 26, 2021	Minutes (FSA Website)
The Twenty-Second Council on December 8, 2020	Minutes (FSA Website)
The Twenty-First Council on November 18, 2020	Minutes (FSA Website)
The Twentyth Council on October 20, 2020	Minutes (FSA Website)
The Nineteenth Council on April 10, 2019	Minutes (FSA Website)
The Eighteenth Council on March 5, 2019	Minutes (FSA Website)
The Seventeenth Council on January 28, 2019	Minutes (FSA Website)
The Sixteenth Council on November 27, 2018	Minutes (FSA Website)
The Fifteenth Council on March 13, 2018	Minutes (FSA Website)
The Fourteenth Council on February 15, 2018	Minutes (FSA Website)
The Thirteenth Council on December 21, 2017	Minutes (FSA Website)
The Twelfth Council on November 15, 2017	Minutes (FSA Website)
The Eleventh Council on October 18, 2017	Minutes (FSA Website)
The Tenth Council on November 8, 2016	Minutes (FSA Website)
The Ninth Council on September 23, 2016	Minutes (FSA Website)
The Eighth Council on June 1, 2016	Minutes (FSA Website)
The Seventh Council on April 26, 2016	Minutes (FSA Website)
The Sixth Council on February 18, 2016	Minutes (FSA Website)
The Fifth Council on January 20, 2016	Minutes (FSA Website)
The Fourth Council on December 22, 2015	Minutes (FSA Website)
The Third Council on November 24, 2015	Minutes (FSA Website)
The Second Council on October 20, 2015	Minutes (FSA Website)
The First Council on September 24, 2015	Minutes (FSA Website)

The Council of Experts Concerning the Corporate Governance Code

TSE and the Financial Services Agency (FSA) jointly established the Council of Experts Concerning the Corporate Governance Code ("Council") with an aim of obtaining recommendations while referring to the knowledge of experts within private sector. After the discussions by the council members and a call for public comments on the draft, the Council finalized the proposal for “Japanese Corporate Governance Code” on March 5, 2015.

Japan’s Corporate Governance Code [Final Proposal] - Seeking Sustainable Corporate Growth and Increased Corporate Value over the Mid- to Long-Term - [Mar. 5, 2015]

The Council of Experts Concerning the Corporate Governance Code
List of members of the Council of Experts Concerning the Corporate Governance Code

Past councils

For materials used at each meeting, please see below.
Materials (FSA Website)

Date	Minutes
The Ninth Council on March 5, 2015	Minutes (FSA Website)
The Eighth Council on December 12, 2014	Minutes (FSA Website)
The Seventh Council on November 25, 2014	Minutes (FSA Website)
The Sixth Council on November 12, 2014	Minutes (FSA Website)
The Fifth Council on October 31, 2014	Minutes (FSA Website)
The Fourth Council on October 20, 2014	Minutes (FSA Website)
The Third Council on September 30, 2014	Minutes (FSA Website)
The Second Council on September 4, 2014	Minutes (FSA Website)
The First Council on August 7, 2014	Minutes (FSA Website)

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