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ACGA Japan Delegation (15 – 18 September)

Over four days from 15 to 18 September, ACGA held its annual delegation to Japan, with 30 delegate members representing 19 of our member organizations. The delegation included meetings with all the main regulators – the Tokyo Stock Exchange, Financial Services Agency as well as Ministry of Economy Trade and Industry (METI). The delegation also included the first in-person meetings that we have had with Ministry of Justice (MOJ) and Ministry of Finance (MOF). These meetings centered around the range of regulatory changes that have been introduced since the middle of the year, including most significantly the amendments to the Corporate Governance (CG) Code and METI’s update on M&A guidelines as well as paper on value-creating growth. The discussions with the MOF and MOJ respectively covered the recently updated the Foreign Exchange and Foreign Trade Act (FEFTA) and the MOJ’s undertaking of a review of Japan’s corporate law.