exoad and Tokyo Stock Exchange to Launch Large-Scale Carbon Credit Market Survey on May 15, 2026

exoad Inc. (head office: Minato-ku, Tokyo; representative: Keisuke Kimura), which provides carbon credit services within the ASUENE Group together with Ca bo EX, and the Carbon Credit Market Development Office of Tokyo Stock Exchange, Inc. (head office: Chuo-ku, Tokyo; representative: Ryusuke Yokoyama), will conduct another large-scale survey on the carbon credit market starting Friday, May 15, 2026, following last year’s survey. The survey aims to understand the outlook for demand, supply, and prices in Japan’s domestic carbon credit market, as well as market challenges, in order to improve market predictability and contribute to the healthy development of the industry as a whole. The results will be statistically aggregated and analyzed, then published around August 2026 so that companies, local governments, investors, policymakers, and other stakeholders involved in the carbon credit market can use them as reference material for decision-making. The survey will examine demand, supply, price outlooks, and market issues in Japan’s domestic carbon credit market from multiple perspectives, with the goal of improving predictability from both the demand and supply sides. In particular, it will organize basic information useful for market participants’ decision-making by covering demand and supply outlooks for allowances under Phase 2 of GX-ETS, J-Credits, and JCM credits, as well as practical challenges in procuring and generating carbon credits. The survey period runs from Friday, May 15 to Tuesday, June 30, 2026, and the survey will be conducted online. Target respondents include buyers in the carbon credit market, credit generation project operators including those considering entry, intermediaries, consulting firms, verification-related businesses such as MRV and VVB providers, research firms, organizations involved in system design and operations, local governments, NGOs and NPOs, research and academic institutions, and other professionals working in the field. Participation in the Tokyo Stock Exchange Carbon Credit Market is not required. The survey is not limited to one response per company or legal entity; relevant departments and personnel are expected to respond based on the scope of information they possess. Individuals or students not affiliated with companies or organizations, and others not engaged in this field, are not eligible. The survey is conducted by exoad Inc. exoad does not participate in credit trading and carries out the survey from a neutral position as an information provider that is neither a buyer nor a seller. The survey is supported and endorsed by the Carbon Credit Market Development Office of Tokyo Stock Exchange, Inc. Ca bo EX handles a wide range of global carbon credits, including voluntary carbon credits, J-Credits, non-fossil certificates, and overseas renewable energy certificates, enabling both sales and purchases. The platform is available in Japanese and English, can be used by overseas companies, and provides 24/7/365 access to carbon credits around the world. Ca bo EX implements review processes such as KYC. As an exchange handling high-quality voluntary carbon credits, it works with credit rating organizations and companies to ensure credit quality. It also provides consulting for carbon credit generation and procurement, supporting domestic and overseas voluntary carbon credit project developers, explaining and proposing credit types according to customer objectives and needs, and helping companies improve PR and brand value by externally disclosing their own credit offset initiatives. Carbon credits bought and sold through Ca bo EX can also be linked with ASUENE, a cloud service for visualizing, reducing, and reporting CO2 emissions. This improves customer convenience and enables proposals and consulting services for offsets using appropriate carbon credits. Ca bo EX Inc. is represented by Kohei Nishiwada and Shunsuke Takeda. Its office is located at WeWork 4F, KDX Toranomon 1-chome Building, 1-10-5 Toranomon, Minato-ku, Tokyo. Capital is 400 million yen including capital reserve. Shareholders are ASUENE Inc. with 51% and SBI Holdings, Inc. with 49%.