Japan's FSA drafts sustainability assurance rules: third-party assurance proposed for large listed firms, startup offering threshold raised to 500 million yen
Japan's Financial Services Agency has published draft rules that would expand the use of third-party assurance for corporate sustainability disclosures while making it easier for startups to raise capital through certain securities offerings. The proposals form part of Japan's 2026 amendments to its Financial Instruments and Exchange Act and are scheduled to take effect on April 1, 2027, subject to completion of the rulemaking process.
On sustainability, the draft would require assurance for major Prime Market issuers, addressing the reliability of non-financial corporate information.
On startup finance, the proposals would raise the securities-registration exemption threshold for certain startup offerings to 500 million yen.
The proposals are open to public comment, with submissions due by December 13, 2026.
Source: Japan Financial Services Agency
Published by GSM · USA (original Chinese edition)
Photo: 图中是东京证券交易所主楼入口，日本主要市场上市公司在此上市交易。Suicasmo, CC0, via Wikimedia Commons
