News Release

Oct. 27, 2026 TSE Management That Is Conscious of Cost of Capital and Stock Price: Situation in the Fourth Year and Future Approaches

Since March 2023, Tokyo Stock Exchange, Inc. (TSE) has been requesting that all listed companies on the Prime Market and Standard Market take “Action to Implement Management That Is Conscious of Cost of Capital and Stock Price.”

With more than three years having passed since the request, initiatives have progressed at many companies. We have received positive feedback from many investors regarding changes in companies’ awareness and the progress of their initiatives, but this is also materializing in improvements in capital profitability and market valuations, particularly among companies that are actively advancing their initiatives.

To support the future initiatives of and dialogue between companies and investors, as well as other market participants, we have compiled an overview of the progress and challenges to date, as well as TSE’s future approaches.

TSE will continue to support companies in sustaining their initiatives by providing examples and key points tailored to each company’s circumstances, as well as through various seminars and other activities. We will also widely communicate the progress of Japanese companies’ initiatives to domestic and overseas investors, while continuing to provide investors with feedback on companies’ views with the aim of fostering effective dialogue.