Japanese

(Provisional translation)
March 3, 2017
Financial Services Agency

Publication of the Report by the “Task Force on Fair Disclosure Rule” of the “Working Group on Financial Markets” of the Financial System Council

The “Task Force on Fair Disclosure Rule” of the “Working Group on Financial Markets” of the Financial System Council (chairman Etsuro KURONUMA, Professor, Waseda Law School) has discussed and deliberated on Fair Disclosure Rule three times since October 2016.

Based on the results of the discussions, the Task Force has compiled the “Report - Ensuring fair and timely disclosure of information to investors”. This report has been reported and approved at the Working Group.

The “Report” (as attached hereto) is a provisional translation of the original Japanese report.