meta_id 3053043

On April 10, 2026, the Financial Services Agency (FSA) and Tokyo Stock Exchange (TSE) published a revised draft of the Corporate Governance Code. The revision represents an update to the code that was initially implemented on June 1, 2015, subsequently amended on June 1, 2018, and further revised on June 11, 2021. The FSA and TSE have prepared this revision to promote growth investment through enhanced corporate governance standards for listed companies. The draft revision includes specific amendments to existing provisions, with detailed change documentation available in accompanying materials. The revision aims to strengthen governance frameworks while supporting sustainable business growth and value creation for Japanese listed companies. The revision is applicable to all listed companies on the TSE and addresses governance practices, board composition, executive accountability, and stewardship principles. The code establishes expectations for corporate management and institutional investors regarding governance standards and engagement practices. The public consultation period for the proposed revision runs until May 15, 2026 (Friday), with submissions required by this deadline. Stakeholders, including listed company executives, board members, and signatories to the Stewardship Code, are invited to submit comments. Detailed submission procedures are available on the TSE website. The FSA's Corporate Disclosure Division (Enterprise Market Planning Bureau) is responsible for managing the consultation process. Further information and enquiries can be directed to the FSA during business hours (10:00–17:00, weekdays) at the contact details provided.