DOCSLIB.ORG

For Trusted and Attractive Capital Markets

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
For Trusted and Attractive Capital Markets 2020-2022 - For Trusted and Attractive Capital Markets - Securities and Exchange Surveillance Commission’s Initiatives - For Trusted and Attractive Capital Markets - Contents A Message from the Chairman p.2 Chairman and Commissioners p.3 Ⅰ Organization and Objectives p.4 Ⅱ Activities of the Securities and Exchange Surveillance Commission －1 Market Surveillance p.8 －2 Investigation of Market Misconduct p.9 (1) Investigation of Transactions (2) Investigation of Cross-Border Transactions/ Transactions by Institutional Investors －3 Inspection of Disclosure Statements p.11 －4 Monitoring of Financial Instruments Business Operators p.12 －5 Investigation of Criminal Cases p.14 Ⅲ Strategy & Policy of the SESC 2020-2022 p.15 Ⅳ Major Cases and Statistics p.17 Ⅴ SESC Website and Other Information p.30 1 A Message from the Chairman The Securities and Exchange Surveillance Commission (SESC) was established in 1992 with the aim of ensuring fairness of transactions and maintaining the trust of investors in markets. It is now in its 29th year. Since its establishment, the SESC has filed criminal charges in cases of serious and malicious market misconduct and has made recommendations for administrative monetary penalty payment orders and administrative actions for violations of securities laws. The SESC has also conducted market oversight through exercising its authority over investigations and inspections in an effort to ensure fairness and transparency of the market and protection of investors. In recent years, financial and capital markets have undergone significant changes due to the globalization of investments and corporate activities as well as the progressing digitalization of financial institutions, transactions and financial products. At present, the Japanese economy is faced with extremely challenging situations because of the coronavirus pandemic. It experienced its largest downturn in the postwar era during the initial outbreak but, since then, it has continued to move toward recovery, thanks to the positive outcomes of various policies and improvements in overseas economies. Nevertheless, the economy remains below its pre-coronavirus level, so the recovery is only partway through. The impact on financial and capital markets needs to be discerned as well. The Financial Services Agency (FSA) has been focusing on its priority policy of “Making the Japanese financial and capital market more sophisticated and attractive.” The SESC will contribute to the policy by ensuring the fairness and transparency of markets and protecting investors, through the implementation of five measures to achieve its goal of “holistic, timely and in-depth oversight.” For the sustainable growth of Japan’s economy, the SESC will work with relevant authorities and self-regulatory organizations to promote integrity and self-discipline of the market through conducting swift and effective market oversight. Ensuring the development of trusted and attractive capital markets that are fair, transparent and trustworthy, as well as the protection of investors, is the mission of the SESC. The SESC will continue to fulfill its mission and respond to the trust that you place in us. Your understanding and cooperation would be greatly appreciated. HASEGAWA Mitsuhiro Chairman Securities and Exchange Surveillance Commission February 2021 2 Chairman and Commissioners Commissioner Chairman Commissioner HAMADA Yasushi HASEGAWA Mitsuhiro KATO Sayuri HAMADA Yasushi was appointed as SESC HASEGAWA Mitsuhiro was appointed as KATO Sayuri was appointed as SESC Commissioner in December 2016 (reappointed SESC Chairman in December 2016 Commissioner in December 2019. in 2019). Previously, he served as the Senior (reappointed in 2019). Previously, he served Previously, she served as Director of the Partner and Director of KPMG AZSA LLC, and as the Chief Public Prosecutor of Nagoya Consumer Affairs Agency, Vice-Governor a professor of Graduate School of District Public Prosecutors Office and the of Nagano Prefecture, and Executive Vice Professional Accountancy, Aoyama Gakuin Superintending Public Prosecutor of President of the National Consumer University. Hiroshima High Public Prosecutors Office. Affairs Center of Japan. 3 Ⅰ Organization and Objectives The SESC was established within FSA in 1992. Prime Minister A Chairman and two Commissioners are Appointment (subject to Diet approval) appointed by the Prime Minister and function as an independent agent. (Term of office: 3 years) FSA Recommendations or SESC The SESC aims to ensure the fairness and Proposals transparency of markets and to protect Chairman investors. Administrative Filing Criminal Investigations of market misconduct including insider Actions or Charges 2 Commissioners trading and market manipulation Public Administrative Inspections of violations in disclosure requirements by prosecutors Monetary Penalty listed companies Payment Orders Monitoring of violations of law related to securities business by Financial Instruments Business Operators (FIBOs)* and unregistered business Monitoring Inspection Investigation operators. Recommendations of administrative actions or FIBOs, etc. Listed Companies, Market administrative monetary penalty payment orders, or (Violations of law related to etc. Misconduct filing criminal charges based on the results of the securities business ) (Violations of disclosure (Insider trading/Market above investigations, inspections or monitoring requirements) manipulation) * “FIBOs” stands for Financial Instruments Business Operators and includes any business operator subject to securities monitoring, such as registered financial institutions, financial instruments intermediary service providers, and qualified institutional investors 4 (Ref.) Organization and Staff Number The Executive Bureau is composed of the following six divisions: Planning and Management Division, Market Surveillance Division, Market Misconduct Investigation Division, Disclosure Inspection Division, Securities Business Monitoring Division, and Criminal Investigation Division. In addition to the Executive Bureau in Tokyo, the SESC has staff members at the Local Finance Bureaus, which perform mainly inspections of financial services providers located in respective areas. There are 737 staff members in total (401 of which work for the Executive Bureau) as of March 31, 2021, the end of fiscal year 2020. Prime Minister Staff Number FSA Appointment Local Finance 800 Bureaus SESC Hokkaido 700 (Chairman Hasegawa, Commissioner Hamada, Commissioner Kato) Started Petitions for FY2020: 737 members Court Injunction Tohoku (including Local Finance Bureaus) 600 Expanded Inspections and Executive Bureau Kanto Introduction of Administrative Monetary Penalty Planning and Management Overall coordination of the Executive Bureau 500 Division Hokuriku Enhanced Market Market oversight Surveillance functions Market Surveillance Division Tokai for Revitalizing Collection & analysis of information, etc. 400 Markets Market Misconduct Kinki FY2020: 401 members Investigation of market misconduct Started Criminal & Investigation Division (excluding Local Finance Bureaus) 300 Administrative Chugoku Investigations Cross-Border Investigation Investigation of market misconduct Office (cross-border transactions, etc.) Shikoku 200 Disclosure Inspection Division Inspection of disclosure documents Kyushu Monitoring of financial instruments business 100 Securities Business Fukuoka Monitoring Division operators, etc. Monitoring of unregistered firms, etc. Okinawa 0 Criminal Investigation Division Investigation of criminal cases 1992 1996 2000 2004 2008 2012 2016 2020 5 (Ref.) History of the Securities and Exchange Surveillance Commission Since its establishment in 1992, the SESC has expanded its administrative investigations beyond its investigation of criminal cases to strengthen its functions as a market surveillance organization July 2011 SESC reorganized to its current structure of six divisions: July 1992 Planning and Management, Market Surveillance, SESC established within the Ministry of Finance, Securities Business Monitoring, Market Misconduct Investigation, consisting of two divisions: the Inspection Division and Disclosure Inspection, and Criminal Investigation the Criminal Investigation Division June 1998 Aug. 2011 SESC moved to the Financial Supervisory Agency Cross-Border Investigation Office was established within the Market Misconduct Investigation Division to respond to market misconduct involving cross-border and other transactions Jan. 2001 SESC moved to the FSA in reorganization of Japanese central government ministries Apr. 2014 Introduction of insider trading regulations governing Apr. and July 2005 transaction recommendations Introduction of administrative monetary penalty system Delegation of authority to inspect disclosure statements and to conduct investigations to impose administrative monetary penalties to the SESC Apr. 2015 Digital Forensic Solutions Office was established to preserve Sept. 2007 evidence on electromagnetic records (digital forensics) Addition of authority to conduct inspections Apr. 2018 on investment funds Addition of authority to conduct inspections on high speed trading business operators Dec.2008 Addition of authority to file petitions for court injunctions May 2020 against violations by unregistered business operators Addition of authority to conduct inspections of financial instruments business operators handling crypto-asset derivatives and electronic record transfer rights 6 (Ref.) Administrative Monetary
Load more

Recommended publications
  • Policy of Cultural Affairs in Japan
    Policy of Cultural Affairs in Japan Fiscal 2016 Contents I Foundations for Cultural Administration 1 The Organization of the Agency for Cultural Affairs .......................................................................................... 1 2 Fundamental Law for the Promotion of Culture and the Arts and Basic Policy on the Promotion of Culture and the Art ...... 2 3 Council for Cultural Affairs ........................................................................................................................................................ 5 4 Brief Overview of the Budget for the Agency for Cultural Affairs for FY 2016 .......................... 6 5 Commending Artistic and Related Personnel Achievement ...................................................................... 11 6 Cultural Publicity ............................................................................................................................................................................... 12 7 Private-Sector Support for the Arts and Culture .................................................................................................. 13 Policy of Cultural Affairs 8 Cultural Programs for Tokyo 2020 Olympic and Paralympic Games .................................................. 15 9 Efforts for Cultural Programs Taking into Account Changes Surrounding Culture and Arts ... 16 in Japan II Nurturing the Dramatic Arts 1 Effective Support for the Creative Activities of Performing Arts .......................................................... 17 2
    [Show full text]
  • Economics, Politics, Public Policy and Law in Japan, Australasia and the Paci C: Corporate Governance, Financial Crisis, and Consumer Product Safety in 2008
    R. L. R. Economics, Politics, Public Policy and Law in Japan, Australasia and the Paci c: Corporate Governance, Financial Crisis, and Consumer Product Safety in 2008 Luke NOTTAGE＃ 1. Taking the Australia-Japan FTA negotiations to new levels 2. Whaling: What can law add to science, economics, ethics and politics ? 3. Australia also should Rail at Australian’s Tabloid Trash’ about Japan 4. Consumer over-indebtedness in Japan, Australia and the US 5. Dodgy foods and Chinese dumplings in Japan 6. FDI and corporate governance in Japan 7. Investor-state arbitration for Indonesia, Australia and Japan 8. Rivals: China, India and Japan economic, not Olympic ? 9. The politics of Japan’s new Takeovers Guidelines 10. Tables turned in Japanese and US nancial markets 11. Lessons from Japan for the US nancial crisis 12. The nancial crisis and loansharks in Japan and NZ 13. Consequences of melamine-laced milk for China, NZ, Japan and beyond 14. Political dynasties in Japan, the US, Australia . but not NZ ? 15. A New Consumer Agency for Japan ? Appendix: Composition of Japan’s Takeovers Guidelines Study Groups Abstract: This is an updated collection of my own postings on the new East Asia Forum blog.＊ Created primarily by political economists from the Australian National University in mid-2008, the blog is attracting a wide readership and regular contributions from experts interested in or based throughout the rapidly evolving Asia-Paci c region. My starting point involves taking seriously Australian Prime Minister Kevin Rudd’s call, just before his ＃ Associate Professor, Sydney Law School ([email protected]); and Co-Director, Australian Network for Japanese Law (ANJeL, www.law.usyd.edu.au/anjel).
    [Show full text]
  • Disaster Prevention Map for Akasaka and Aoyama, Minato City Disaster
    To Yotsuya To Yotsuya Wakaba Shinanomachi 3-chome Local Disaster Wakaba 1-chome Local Meeting Place （ ・・・Local Meeting Place） To Sendagaya Prevention Councils No. Town/Community Association Name Local Meeting Place DisasterDisaster PreventionPrevention MapMap forfor Name 201 Moto-akasaka Denmacho Town Council Toyokawa-inari Grounds Sophia University Shinanomachi StationShinjuku City Akasaka Tunnel 202 Akasaka Omoteichini Town Council Toyokawa-inari Grounds Gaien Aoyama District Disaster Prevention Council Minamimotomachi JR Chuo Line 203 Moto-akasaka 2-chome Town Council Minami Children's Park Akasaka and Aoyama, Minato City Akasaka District Disaster Prevention Network Akasaka and Aoyama, Minato City Akasaka Palace 204 Akasaka Tameike Town Council Near Tameike intersection (Akasaka 1-chome side) 205 In front of the Orix Bldg and Akasaka Intercity Public Art Museum Akasaka Higashi 1/2-chome Town Council Metropolitan Expressway Route 4 Tokyo Metro Marunouchi Line Sendagaya Minami Children's Park Samegahashi-zaka e 206 Josai University n Reinan-zaka Town Council Yosen-ji Temple Grounds New National Stadium i 1-chome Imperial Guard L (Under Construction) Legend Embassy of Bangladesh o 207 Akasaka Fukuyoshi Town Council Parking lot in front of Akasaka Fukuyoshi Kaikan Gaien Akasaka Palace h Kinokuni-zaka c Gaien-Higashi-doriAve. Shimizudani u 208 Park k Akasaka Mitsuke Association Akasaka Regional City Ofce (parking lot) City boundary Tsunami evacuation building 203 Akasaka Palace Nihonkaku a r Kioicho u 209 Akasaka Tamachi 3/4/5-chome Town Council Open space next to the Hie Jinja Shrine escalator AED station Meiji Kinenkan Y Cho boundary 203 o r 210 Disaster announcement system Togu Palace t Akasaka Shinsan Town Council Ikoi Open Space (on TBS premises) Chome boundary e Security Outpost M City hall (Regional city ofce) 211 Anchin-zaka o Akasaka Shinni Town Council Akasaka Kinryu Parking Lot Railroad y Police station Meiji Jingu Gaien The Akasaka Imperial Residence k Gaien-Nishi-doriAve.
    [Show full text]
  • Asia Pacific Regulatory Practice
    Asia Pacific Regulatory Practice 2014 Directory of Regulatory Lawyers in K&L Gates Asia Pacific Offices ASIA PACIFIC OFFICE LOCATIONS BEIJING SEOUL TOKYO SHANGHAI TAIPEI HONG KONG SINGAPORE BRISBANE PERTH SYDNEY MELBOURNE Beijing Perth Sydney Suite 1009-1011, Tower C1, Oriental Plaza, No.1 Level 32, 44 St Georges Terrace Level 31, 1 O’Connell Street East Chang An Avenue, Dongcheng District Perth WA 6000 Australia Sydney NSW 2000 Australia Beijing 100738 China T: +61.8.9216.0900 T: +61.2.9513.2300 T: +86.10.5817.6000 F: +61.8.9216.0901 F: +61.2.9513.2399 F: +86.10.8518.9299 Seoul Taipei Brisbane Kyobo Life Insurance Co. Building, 22nd Floor 30/F, 95 Dun Hua S. Road, Sec. 2 Level 16, 66 Eagle Street Jongno 1-Ga, Jongno-Gu Taipei 106 Brisbane QLD 4000 Australia Seoul, 110-714 Taiwan T: +61.7.3233.1233 Republic of Korea T: +886.2.2326.5188 F: +61.7.3233.0900 T: +1.+82.0.2.2198.8700 F: +886.2.2325.5838 Hong Kong Shanghai Tokyo 44th Floor, Edinburgh Tower, The Landmark, Suite 3708, Park Place, 1601 Nanjing Road West, Kasumigaseki Common Gate West Tower 35F 15 Queen’s Road Central, Hong Kong Jing An District 3-2-1 Kasumigaseki, Chiyoda-ku T: +852.2230.3500 Shanghai 200040, China Tokyo 100-0013 F: +852.2511.9515 T: +86.21.2211.2000 Japan F: +86.21.3251.8918 T: +81.3.6205.3600 Melbourne F: +81.3.3597.6421 Level 25, 525 Collins Street Singapore Melbourne VIC 3000 Australia 10 Collyer Quay, #37-01 Ocean Financial Centre T: +61.3.9205.2000 Singapore 049315 F: +61.3.9205.2055 T: +65.6507.8100 F: +65.6507.8111 Directory of Regulatory Lawyers in K&L Gates Asia Pacific Offices Table of Contents Introduction ..................................................................................
    [Show full text]
  • How Will the DPJ Change Japan? Tobias Harris
    Naval War College Review Volume 63 Article 6 Number 1 Winter 2010 How Will the DPJ Change Japan? Tobias Harris Follow this and additional works at: https://digital-commons.usnwc.edu/nwc-review Recommended Citation Harris, Tobias (2010) "How Will the DPJ Change Japan?," Naval War College Review: Vol. 63 : No. 1 , Article 6. Available at: https://digital-commons.usnwc.edu/nwc-review/vol63/iss1/6 This Article is brought to you for free and open access by the Journals at U.S. Naval War College Digital Commons. It has been accepted for inclusion in Naval War College Review by an authorized editor of U.S. Naval War College Digital Commons. For more information, please contact [email protected]. Harris: How Will the DPJ Change Japan? 77 HOW WILL THE DPJ CHANGE JAPAN? Tobias Harris y any measure, the Democratic Party of Japan (DPJ) won the 2009 general Belection in a historic landslide. The Liberal Democratic Party’s (LDP’s) seat to- tals fell from 219 single-member districts to sixty-four, and seventy-seven propor- tional-representation seats to fifty-five. Komeito, the LDP’s coalition partner, lost 1 ten seats, including all eight of the single-member districts it had won in 2005. The DPJ’s likely coalition partners, the Social Democratic Party of Japan and Peo- ple’s New Party, basically stayed put: the former returned with the same number of seats, while the latter fell one seat, to three. Tobias Harris is an analyst of Japanese politics and for- THE 2009 GENERAL ELECTION eign policy.
    [Show full text]
  • Food Safety Commission of Japan
    FOOD SAFETY COMMISSION OF JAPAN Food Safety Commission of Japan 1 Who We Are 1All foods are not necessarily safe, despite the human have not experienced before. Anisakiasis, parasitic inclination to believe they are. Plants often contain infection, is caused by the consumption of raw sea- different alkaloids such as solanine, a well-known food. Apparently, recent incidence of this foodborne toxic substance contained in the green tubers or disease is a result from people’s new preference for buds of potatoes. Inappropriate consumption of eating food raw, which were not eaten raw before. these plants causes plant poisoning due to these al- FSCJ also conducts risk assessment of such kind. kaloids. Cassava, an important crop in the tropics, is another example of a toxic plant because it contains FSCJ, however, is responsible not solely for assess- a cyanogenic glycoside as a component, and is ment of food safety risks; it is also responsible for highly hazardous if someone eats it without pretreat- “risk communication” through which the information ment. Human beings have been contriving to make on risk assessments is to be provided correctly in an these toxic crops edible for survival throughout our easy-to-understand manner. Through risk communi- long history. Our long fight against pathogenic bac- cation, FSCJ should provide people with the knowl- teria that cause serious foodborne diseases is one edge and wisdom of consuming food safely. of control for our very survival. FSCJ needs to listen to consumer’s questions and Food Safety Commission of Japan (FSCJ) is a risk opinions about food safety and about risk assess- assessment organization for science-based assess- ments through communication.
    [Show full text]
  • Japan's National Action Plan on Business and Human Rights 1St
    Japan’s National Action Plan on Business and Human Rights As part of our commitment to the implementation of the Guiding Principles on Business and Human Rights, at the 2016 United Nations Forum on Business and Human Rights, the Government of Japan officially announced Japan’s intention to formulate a National Action Plan (NAP) on Business and Human Rights in the coming years. The development of the NAP is significant for achieving the Sustainable Development Goals (SDGs); it is one of the concrete measures listed under Japan’s SDGs Implementation Guiding Principles. In the first stage of the NAP formulation process, the Government of Japan initiated a baseline study to assess to what extent current legislation and initiatives provide for the protection of human rights in the course of business activities. To capture the current landscape, the Government of Japan organized a series of consultations with multi-stakeholders including business associations, trade unions, academia and civil society. 1st multi-stakeholder consultation On March 8, 2018, the Government of Japan organized the first multi-stakeholder consultation on the topic of public procurements. 1. The relevant ministries and government-related entities reported on the current situations and measures regarding public procurement, focusing on Act on Promoting Green Procurement, Act on Priority Procurement Promotion for Persons with Disabilities, Act for Eliminating Discrimination against Persons with Disabilities, procurement based on Article 20 of Act on Promotion of Female Participation and Career Advancement in the Workplace, and procurement related to development assistance. 2. Subsequently, the Tokyo Organising Committee of the Olympic and Paralympic Games presented on their Sustainable Sourcing Code, and the stakeholders gave presentations on possible risks faced by companies or workers.
    [Show full text]
  • Case 14-12382 Doc 1 Filed 10/20/14 Page 1 of 3
    Case 14-12382 Doc 1 Filed 10/20/14 Page 1 of 3 ni in~r,.:.,~ ~......, ivnnnz~ United States Bankruptcy Court VOIUilt~ry PetltlOri District of Delaware Name of Debtor (if individual, enter Last, First, Middle): Name of Joint Debtor (Spouse)(Last, Pirst, Middle): Ultura (LA) Inc. All Other Names used Uy the Debtor in the last 8 years All Other Names used by the Joint Debtor in the last 8 years (include married, maiden, and trade names): (include married, maiden, and trade names): FDBA Rochem Membrane Systems, Inc. Last four digits of Soc. Sec. or Individual-Taxpayer I.D. (ITIN)/Complete EIN Last four digits of Soc. Sec. or Individual-Taxpayer I.D. (ITIN) No./Complete FIN (if more than one, state all) (if more than one, stake all) 26-3049624 Street Address of Debtor (No. and Street, City, and State): Street Address of Joint Debtor (No. and Street, City, and State): 3605 Long Beach Bivd. Suite 201 Long Beach, CA ZIP Code ZIP Code 90807 County of Residence or of the Principal Place of Business: County of Residence or of the Principal Placa of Business: Los Angeles Mailing Address of Debtor (if different from street address): Mailing Address of Joint Debtor (if different from street address): ZIP Code ZIP Code Location of Principal Assets of Business Debtor (if different from street address above): Type of Debtor Nature of Business Chapter of Bankruptcy Code Under Which (Form of Organization) (Check one box) (Check one box) the Petition is Tiled (Check one box) ❑ Individual (includes Joint Debtors) ❑Health Care Business 7 See Exhibit D ors page 2 of rhi.rform.
    [Show full text]
  • Directory of Organizations
    Appendix 6 DIRECTORY OF ORGANIZATIONS Telephone Organization Address/Web Site Number DIET House of Representatives 1-7-1, Nagata-cho, Chiyoda-ku, Tokyo 03-3581-5111 http://www.shugiin.go.jp/internet/index.nsf/html/ index_e.htm First Members’ Office Bldg. 2-2-1, Nagata-cho, Chiyoda-ku, Tokyo 03-3581-5111 Second Members’ Office Bldg. 2-1-2, Nagata-cho, Chiyoda-ku, Tokyo 03-3581-5111 House of Councillors 1-7-1, Nagata-cho, Chiyoda-ku, Tokyo 03-3581-3111 https://www.sangiin.go.jp/eng/index.htm Members’ Office Bldg. 2-1-1, Nagata-cho, Chiyoda-ku, Tokyo 03-3581-3111 Judge Impeachment Court 1-11-16, Nagata-cho, Chiyoda-ku, Tokyo 03-3581-3111 http://www.dangai.go.jp/ Judge Indictment Committee 2-1-2, Nagata-cho, Chiyoda-ku, Tokyo 03-3581-5111 http://www.sotsui.go.jp/ National Diet Library 1-10-1, Nagata-cho, Chiyoda-ku, Tokyo 03-3581-2331 https://www.ndl.go.jp/en/index.html BOARD OF AUDIT Board of Audit 3-2-2, Kasumigaseki, Chiyoda-ku, Tokyo 03-3581-3251 https://www.jbaudit.go.jp/english/index.html CABINET Cabinet Secretariat 1-6-1, Nagata-cho, Chiyoda-ku, Tokyo 03-5253-2111 http://www.cas.go.jp Cabinet Legislation Bureau 3-1-1, Kasumigaseki, Chiyoda-ku, Tokyo 03-3581-7271 https://www.clb.go.jp/english/index.html National Personnel Authority 1-2-3, Kasumigaseki, Chiyoda-ku, Tokyo 03-3581-5311 https://www.jinji.go.jp/en/index.html Cabinet Office 1-6-1, Nagata-cho, Chiyoda-ku, Tokyo 03-5253-2111 https://www.cao.go.jp/index-e.html Imperial Household Agency 1-1, Chiyoda, Chiyoda-ku, Tokyo 03-3213-1111 https://www.kunaicho.go.jp/eindex.html Fair Trade
    [Show full text]
  • ADBI-JFSA-OECD Roundtable on Insurance and Retirement Saving in Asia
    ADBI-JFSA-OECD Roundtable on Insurance and Retirement Saving in Asia 25-26 April 2018 Tokyo, Japan To purpose of this roundtable is to better inform policy makers and private sector participants in Asia of the policy analysis that the OECD is developing, and to discuss key issues in the Asian market with input from the JFSA, with the aim of sharing experience and good practices for the sound development of insurance and private pensions markets. The Asia-Pacific region is among the fastest growing markets in the world for insurance and is responsible for an increasing share of global insurance premiums and assets under management. However, the level of insurance and retirement savings penetration remains low, leaving large numbers of individuals unprotected against both certain and uncertain risks in the context of important demographic and social changes in the region. The development of insurance and private pension markets provides an opportunity for the diversification of risk over time and among different participants. The OECD’s Insurance and Private Pensions Committee and its Working Party on Private Pensions have been developing work in the area of insurance and private pensions that addresses policy interests and emerging issues in these markets, and have been making policy recommendations based on evidence- based analysis. Day 1 – Wednesday, 25 April 2018 9:30-10:00 Opening Remarks Masamichi Kono, Deputy Secretary-General OECD, Naoyuki Yoshino, Dean, ADBI Hiroshi Ota, Vice Chair, IAIS Executive Committee; and Deputy Commissioner for International Affairs, Japan Financial Services Agency 10:00-13:00 Session 1: Dealing with demographic change in the insurance and private pension sectors Many countries in Asia are experiencing dramatic or expected changes in their demographics – longevity accompanied by declines in fertility rates, and the ensuing transformation of societal age structures.
    [Show full text]
  • Petrochemical Industry of Japan 2012
    Petrochemical Industry of Japan 2012 Japan Petrochemical Industry Association INDEX Material Flow .................................................................................................................................. 1 Geographical Locations of Petrochemical Complexes ........................................ 2 Production Capacity ................................................................................................................... 3 Ethylene Production ................................................................................................................... 4 Production of Petrochemicals .............................................................................................. 5 Export/ Import Balance as Ethylene Equivalent...................................................... 6 Exports................................................................................................................................................. 7 Imports................................................................................................................................................. 8 Plastics Production ...................................................................................................................... 9 Major Plastics Domestic Demand Breakdowns .................................................... 10 Production of Spun Yarns ..................................................................................................... 11 Production of Synthetic Rubbers ...................................................................................
    [Show full text]
  • Urban Renewal) Velopment
    2016 Real Estate in Japan Creating New Value for the Economy and Society 2016 CodeCode ofof ConductConduct TheThe RealReal EstateEstate CompaniesCompanies AssociationAssociation ofof JapanJapan -Creating New Value for the Economy and Society- Japan’s declining population, falling birthrate and aging society are all having major impacts on our economy and society. New issues such as increasing internationalization and global environmental problems also need to be addressed. In this context, Japan’s real estate industry has a social responsibility to create new value to contribute to the economy and society. It is expected to supply high-quality buildings and housing, and help make people’s daily lives-whether at home, work, or play-more comfortable and affluent. As a cornerstone of domestic demand, the industry should also help drive national economic growth. Based on this mission, members of the Real Estate Companies Association of Japan pursue their activities in accordance with the principles below. 1. Creating Attractive Cities Members will help create safe, stable, comfortable and appealing cities; renew urban areas through forming quality housing stock and advanced business infrastructure; create dynamic environments rich in amenities; and work to maintain and enhance their value from both a hard and soft perspective so that they may be passed down to the future generations as high-quality assets. 2. Customer-Focused Activities and Management The provision of “Customer First” management is best served by supporting the lifestyle pursuits of customers in meeting their ever diversifying and increasingly unique needs with an enhanced selection of products and services, and also in providing accurate information while maintaining high ethical standards and acquiring greater expertise.
    [Show full text]