The Japan Financial Services Agency (FSA) has published an updated list of institutional investors that have made a declaration of acceptance of the Japan Stewardship Code, reflecting the position as of 31 December 2025 and incorporating investors that have announced acceptance of the Code’s Third Revision (2025). The list covers investors that have expressed acceptance at least once from the Code’s initial 2014 formulation through the Third Revision, and reports 350 accepting institutional investors in total, of which 282 have accepted the Third Revision. By business type, the 350 accepting investors comprise 6 trust banks, 218 investment trusts and investment advisory companies, 26 life and non-life insurance companies, 88 pension funds and related entities, and 12 others such as service providers to institutional investors. For the Third Revision, the FSA reports 6 trust banks, 165 investment trusts and investment advisory companies, 26 insurers, 77 pension funds and related entities, and 8 others. The pension fund category includes the Corporate Pension Stewardship Promotion Council, which announced acceptance in 2025 and had 269 corporate pension funds participating as regular members as of 31 December 2025. The publication framework described in the Code’s preamble expects accepting investors to disclose on their own websites a statement of acceptance and required publication items under each principle, to review and update disclosures annually and explain reasons for any non-implementation, and to notify the FSA of the relevant website address. The FSA’s list also includes, for relevant investor categories, whether a policy is published on handling requests from investee companies regarding the status of shareholdings and the website address where that policy is published.

Original source View in tracker