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Progress Report 2014-2015 on the Corporate Reporting Lab

The Ministry of Economy, Trade and Industry (METI) launched the Corporate Reporting Lab in 2012 to provide enterprises and investors with opportunities to deepen their dialogues for enhancing corporate value as well as to study, discuss and propose more effective communications and disclosures about corporate value. METI compiled a progress report on the details of the activities and major achievements of the Lab from September 2014 to October 2015.

1. Corporate Reporting Lab

In July 2012, METI launched the Lab to provide enterprises and investors with opportunities to deepen their dialogues to enhance corporate value as well as to study, discuss, and propose more effective methods of communicating and disclosing of corporate value. Participating members have advanced the Lab’s activities through their own efforts, including proposing projects, participating in or completing them.

The Lab aims to achieve the following two major goals:

  1. Bringing enterprises and investors together to exchange views, identify differences in perceptions, and seek common ground and terminology so as to facilitate dialogue in a more constructive manner; and
  2. Establishing a communications hub and network with a variety of domestic and foreign stakeholders, including, inter alia, overseas investors interested in the Japanese market, as well as conveying Japan’s message overseas.

2. Outline of Progress Report 2014-2015 (the Lab’s activities and major achievements)

METI compiled the results of the activities and achievements of the Lab from September 2014 to October 2015 into a report, titled “Progress Report 2014-2015.” The outline of the Report is as follows.

  • At the meetings of the Planning Committee, enterprises, investors, and market participants made presentations on matters such as the ideal state of dialogues between enterprises and investors, corporate reports, efforts for corporate governance, and incentives that drive investors to take sustainability into consideration when making investment decisions from the viewpoint of enterprises’ sustainable growth. In addition, Dr. Mikiharu Noma, chairperson of the Planning Committee (Associate Professor, Hitotsubashi University, Graduate School of International Corporate Strategy,), reported on the Questionnaire Survey on the Impact of Corporate Pensions on Corporate Activities ( PDF File,(ZIP:10.4MB) PDF File(in Japanese) (pages 207-246)).
  • At the meetings during the Working Group on Corporate Governance Dialogue, the rights of shareholders exercised at shareholders in 2014 were summarized , and the Asian Corporate Governance Association (ACGA) was invited to exchange opinions on the ideal state of corporate governance in Japan. Also, experts and members of the Group made presentations on matters such as progress for the Corporate Governance Fund and the relationship between the participation of auditors on the board of directors and business performance.
  • The Working Group for Analyzing Case Examples of Good Practices conducted a survey from January to February 2015, as a follow-up to the 2014 Survey for Case Examples of Good Practices concerning Shareholder Meeting Notices (, which had been released in May 2014, while increasing the number of recipients of the questionnaire and items surveyed. This survey was conducted for the purpose of clarifying points of interest for institutional investors and what investors consider good or bad examples of shareholder meeting notice. In fact, the survey revealed that institutional investors prioritize information related to the election of directors and company auditors and anti-takeover measures in shareholder meeting notices and they want to see improvement in prompt delivery of notices and responses to their inquiries. The results of this survey have been released as the Viewpoints of Institutional Investors concerning Shareholder Meeting Notices –Taking into account the introduction of Japan’s Stewardship Code –
    ( PDF File
  • The Working Group on forum of investors held a dialogue-based symposium titled “Aiming for Sustainable Value Creation by Enterprises and Investors –the Practice of Japan’s Stewardship Code–“ (approximately 300 participants) at the Tokyo Stock Exchange at the end of February 2015 after approximately a year of consultations and preparations, beginning in February of 2014. The symposium was held to provide a common foundation in terms of the depth of information to be provided, counterparties and main themes of dialogues concerning the ideal state of engagement in corporate value creation by entities including institutional investors. At the symposium, participants held discussions for the creation of mid- to long-term corporate value.
    ( PDF File

As additional information, the Lab’s activities and achievements from July 2012 to June 2013 have been published in a report titled “Progress Report 2012-2013,” and those from July 2013 to August 2014 have been published in a report titled “Progress Report 2013-2014” on the following webpages.

Progress Report 2012-2013:
Progress Report 2013-2014: PDF File


Corporate Reporting Lab: Progress Report 2014-2015(PDF:226KB) PDF File Updated on January 15, 2016

Release date

November 24, 2015

Division in charge

Corporate Accounting, Disclosure and CSR Policy Office, Economic and Industrial Policy Bureau

Ministry of Economy, Trade and Industry
1-3-1 Kasumigaseki, Chiyoda-ku, Tokyo 100-8901, Japan Tel: +81-(0)3-3501-1511
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