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On April 10, 2026, Japan's Financial Services Agency (FSA) launched a public consultation on proposed amendments to the Cabinet Office Ordinance on Financial Instruments Business Operations and Related Matters (金融商品取引業等に関する内閣府令). The proposed amendments aim to relax the transition requirements for individuals seeking to become qualified investors. This initiative follows recommendations from a September 2025 report by the Japan Securities Dealers Association and FSA joint working group on growth capital supply to startup enterprises. The working group identified relaxed qualified investor transition criteria as a key measure to promote capital flow to startups and activate investment activity among qualified investors. The specific amendments are detailed in the accompanying attachment to the consultation notice. The FSA intends to proceed with publication and implementation following the conclusion of the public consultation period and completion of necessary procedures. The comment period closes on May 9, 2026, at 17:00 (Japan Standard Time). Responses may be submitted by post to the FSA's Market Division, Planning and Markets Bureau, or via the e-Gov website. Respondents should provide their name, occupation or business type, contact information, and reasoning for their submission. Individual responses will not be provided to commenters. Respondent names may be disclosed alongside submission content unless anonymity is requested or disclosure would compromise personal privacy or legitimate business interests. Further information is available on the FSA website at https://www.fsa.go.jp/