📋 Quick Summary for Foreign Business Owners
Category: Regulatory Update
Category: Regulatory Update
Background & Context
The Stewardship Code (Shituwado-shugi Kōdo), introduced in Japan in 2014, aims to promote responsible investment practices among institutional investors. The Financial Services Agency (Kin’yū Chō, 金融庁) oversees this initiative, which encourages investors to engage with companies to enhance corporate governance and long-term value. The code has undergone several revisions, with the latest amendments implemented in 2021 to strengthen its effectiveness. The publication of the list of institutional investors who have accepted the code as of June 30, 2026, marks an important milestone in Japan’s commitment to fostering a more transparent and accountable investment environment. This initiative aligns with global trends towards responsible investing, reflecting Japan’s efforts to enhance its appeal to foreign investors.How This Affects Your Business in Japan
| Item | Cost (JPY) | Cost (USD approx) | Notes |
| Legal Consultation | ¥30,000 | $210 | Per hour |
| Company Registration | ¥150,000 | $1,050 | One-time fee |
| Notary Fee | ¥50,000 | $350 | For document notarization |
1. Foreign Residents Already Operating a Business in Japan
For foreign entrepreneurs already established in Japan, the acceptance of the Stewardship Code by institutional investors can lead to increased opportunities for collaboration and investment. It is advisable to engage with these investors and align business practices with the principles of the code to enhance credibility and attract potential partnerships. Regularly review governance practices and consider adopting transparency measures. Failure to adapt may result in missed investment opportunities.
2. Foreign Nationals Planning to Establish a New Company
For those looking to start a business in Japan, understanding the Stewardship Code is essential. New entrepreneurs should consider how their business practices align with responsible investment principles. Creating a governance framework that adheres to the code can make the business more appealing to potential investors. It is recommended to prepare a governance plan and seek advice from local experts familiar with the code. Not doing so may hinder access to funding and support.
3. Foreign Investors Who Are NOT Residents of Japan
Foreign investors looking to invest in Japanese companies should pay attention to the list of institutional investors committed to the Stewardship Code. Engaging with these investors can provide insights into the Japanese market and facilitate entry. Investors should conduct due diligence on companies adhering to the code, as they are likely to have stronger governance practices. Ignoring these developments may lead to investing in companies with less transparency and higher risks.
Step-by-Step: What You Need to Do
Step 1: Research the Stewardship CodeFamiliarize yourself with the principles of the Stewardship Code. Visit the Financial Services Agency (Kin’yū Chō) website for resources. English support is available.
Office: Financial Services Agency (English Support: Yes)
Cost: Free (¥0)
Time: 1 week
Pitfall: Overlooking key principles
Step 2: Assess Your Business Practices
Evaluate your current governance practices against the code’s principles. Consult with a legal advisor for guidance.
Office: Legal Consultation Services (English Support: Limited)
Cost: ¥50,000 (~$350 USD)
Time: 2-3 weeks
Pitfall: Incomplete assessment
Step 3: Develop a Governance Framework
Create a governance structure that aligns with the Stewardship Code. This may involve drafting policies and procedures.
Office: Legal Affairs Bureau (English Support: Limited)
Cost: ¥100,000 (~$700 USD)
Time: 1 month
Pitfall: Lack of comprehensive policies
Step 4: Engage with Institutional Investors
Reach out to institutional investors listed as accepting the Stewardship Code. Prepare a presentation on your business and governance practices.
Office: Investment Relations Office (English Support: No)
Cost: Varies
Time: Ongoing
Pitfall: Unprepared presentations
Step 5: Monitor Compliance and Adapt
Regularly review and update your governance practices to ensure compliance with the code. Consider annual audits.
Office: Compliance Audit Services (English Support: Limited)
Cost: ¥30,000 (~$210 USD) for audits
Time: Ongoing
Pitfall: Neglecting updates
Step 6: Stay Informed on Regulatory Changes
Keep abreast of any amendments to the Stewardship Code and related regulations through the Financial Services Agency’s website.
Office: Financial Services Agency (English Support: Yes)
Cost: Free (¥0)
Time: Ongoing
Pitfall: Missing updates
Key Contacts
www.jetro.go.jp/en/
www.moj.go.jp/isa/
www.fsa.go.jp/en/
Expert Analysis: Japan vs. Regional Competitors
| Metric | Japan | Singapore | Hong Kong | South Korea |
| Incorporation Time | 14 days | 3 days | 5 days | 12 days |
| Minimum Capital Requirement | ¥0 | S$1 | HK$1 | ₩100,000 |
| Corporate Tax Rate | 30% | 17% | 16.5% | 22% |
| Visa Processing Time | 4 weeks | 2 weeks | 3 weeks | 5 weeks |
What to Expect Next
Looking ahead, Japan is expected to continue refining its Stewardship Code and related regulations to further enhance corporate governance. Stakeholders should watch for potential amendments and new guidelines from the Financial Services Agency (Kin’yū Chō) in the coming years. Key developments may include increased reporting requirements for institutional investors and enhanced engagement practices. Monitoring these changes will be crucial for foreign entrepreneurs and investors aiming to navigate Japan’s evolving investment landscape.Sources & References
This article is based on the following source and enhanced with professional analysis for foreign business owners.Source: スチュワードシップ・コードの受入れを表明した機関投資家のリスト（令和８年（2026年）６月30日時点）について公表しました。
⚠️ This article is for informational purposes only and does not constitute legal advice. Please consult a qualified Japanese attorney (bengoshi) or judicial scrivener (shiho shoshi) for advice specific to your situation.
コメント