Discussions began on the 18th at the Financial Services Agency regarding the revision of the "quarterly disclosure" in which companies announce their business results every three months.
Experts commented cautiously on the review, saying that quarterly disclosure required by law is necessary to ensure market transparency.
"Quarterly disclosure", in which companies announce their business results every three months, was required by law for listed companies in 2008, but the Kishida administration is aiming for "new capitalism" and companies are long-term. It shows a policy of reviewing in order to manage from a different perspective.
The Financial Services Agency began discussions on this in the working group of the Financial Council on the 18th.
Among them, experts commented that "quarterly disclosure stipulated by law is necessary to ensure market transparency and reliability" and "an environment where corporate information can be checked regularly even for long-term investment." However, if the amount of disclosed information decreases, the evaluation from overseas may decline and investment may decrease. ”
On the other hand, there is some overlap between the "quarterly report" that is required to be disclosed by law and the "financial statement" that the stock exchange requires to be disclosed, which is more efficient because it reduces the burden on the company. There was also an opinion that the way of disclosure should be explored.
The Financial Services Agency has a policy of organizing issues and compiling a report by the spring of this year.