Principles for Responsible Institutional Investors (Japan's Stewardship Code) - 2017

Approximately three years have passed since the Stewardship Code was formulated by the Council of Experts on Japan’s Stewardship Code on February 26, 2014. During this period, over 200 institutional investors have signified their commitment to the Stewardship Code, and the Corporate Governance Code has been applied to listed companies since June 2015. While progress has been made in corporate governance reform to a certain extent under these Codes, it has also been pointed out that such reforms may still remain mechanical.