【Short Review】Japan’s Stewardship Code (1)~ Survey of disclosure by institutional investor signatories in the first year of implementation ~

The Japan’s Stewardship Code (hereafter, the “Code”) was published by the Financial Services Agency (hereafter, “FSA”) in February 2014. Domestic and foreign institutional investors have continued to adopt the Code ever since its establishment. According to FSA, 191 institutional investors had signed the Code by the end of June 2015. The number of signatories has been steadily increasing over the past year, especially among pension funds and investment managers.