Regarding the Proposed Revision of the Corporate Governance Code
Mitsubishi UFJ Trust and Banking Corporation has compiled an overview of the proposed revision to the Corporate Governance Code, which was announced by the Financial Services Agency on April 10 and is currently open for public comment. This revision aims to promote substantive governance measures through "principled revisions" and "streamlining" of the code, with a target revision date of July 2026 and a deadline for submitting CG reports by the end of July 2027.
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Mitsubishi UFJ Trust and Banking Corporation (President & CEO: Hiroshi Kubota) has compiled an overview of the proposed revisions to the Corporate Governance Code, which was announced by the Financial Services Agency on April 10 and is currently open for public comment.
≪Summary≫
* Revision to significantly reorganize the number of principles through "principled revisions" and "streamlining," promoting substantive governance measures.
* New discussion points include verification of resource allocation, pre-general meeting disclosure of securities reports, role and function of the board of directors' secretariat, and ensuring the quality of independent outside directors.
≪Outline≫
Purpose of Revision / Future Schedule
* "Principled revisions" and "streamlining" will be implemented to make the code itself more substantive.
* Revisions are planned for around July 2026, after public comments.
* CG reports reflecting the revisions are to be submitted by the end of July 2027.
Changes in Structure
* The current 83 principles will be streamlined to 30 principles.
* A new preamble will be established to clarify the purpose and intent of the code.
* Supplementary principles will be abolished, and new "interpretive guidelines" will be established.
Changes in Disclosure Items
* No additional items.
* Reduced from 14 items to 10 items.
Main Additional Discussion Points
* In addition to "verification of resource allocation," "pre-general meeting disclosure of securities reports," and "role and function of the board of directors' secretariat," which were presented as revision discussion points at the first expert committee meeting, "ensuring the quality of independent outside directors" will be newly stipulated in principles and interpretive guidelines.
For more detailed information, interviews, or article requests, please contact us at the email address below.
[Contact Information for this matter]
Mitsubishi UFJ Trust and Banking Corporation
Corporate Consulting Department, Planning Group
Mail: cc-planning_post@tr.mufg.jp
End
≪Summary≫
* Revision to significantly reorganize the number of principles through "principled revisions" and "streamlining," promoting substantive governance measures.
* New discussion points include verification of resource allocation, pre-general meeting disclosure of securities reports, role and function of the board of directors' secretariat, and ensuring the quality of independent outside directors.
≪Outline≫
Purpose of Revision / Future Schedule
* "Principled revisions" and "streamlining" will be implemented to make the code itself more substantive.
* Revisions are planned for around July 2026, after public comments.
* CG reports reflecting the revisions are to be submitted by the end of July 2027.
Changes in Structure
* The current 83 principles will be streamlined to 30 principles.
* A new preamble will be established to clarify the purpose and intent of the code.
* Supplementary principles will be abolished, and new "interpretive guidelines" will be established.
Changes in Disclosure Items
* No additional items.
* Reduced from 14 items to 10 items.
Main Additional Discussion Points
* In addition to "verification of resource allocation," "pre-general meeting disclosure of securities reports," and "role and function of the board of directors' secretariat," which were presented as revision discussion points at the first expert committee meeting, "ensuring the quality of independent outside directors" will be newly stipulated in principles and interpretive guidelines.
For more detailed information, interviews, or article requests, please contact us at the email address below.
[Contact Information for this matter]
Mitsubishi UFJ Trust and Banking Corporation
Corporate Consulting Department, Planning Group
Mail: cc-planning_post@tr.mufg.jp
End