English-language disclosure by JPX-Nikkei 400 constituents, 2019

IDS Report 006

December 15, 2020

IDS researched the scope of English translation of key disclosure documents by JPX-Nikkei Index 400 constituents as of September 2019, and compared the results to our findings in 2015 and 2017. We looked at five types of documents: proxy statements for AGMs, notices of resolutions, results of the exercise of voting rights (extraordinary reports), financial results (kessan tanshin), and presentation materials for earnings briefings. We broke down our findings for each type of document based on the proportion of foreign shareholders and the industry of the issuers, and also looked at the frequency of translation where appropriate. A table of the results of our research for all 400 constituents of the JPX-Nikkei Index is provided at the end of the report.


1. Scope of research
2. Proxy statements
Rate of English translation
Scope of English translation
Maps and instructions regarding the exercise of voting rights
3. Notices of resolutions
Rate of English translation
4. Results of the exercise of voting rights (extraordinary reports)
Rate of English translation
5. Financial results (kessan tanshin)
Rate of English translation
Frequency of translation
Scope of English translation
6. Presentation materials for earnings briefings
Rate of English translation
Frequency of translation
7. Duplication of information between documents and scope of disclosure
8. English translation of each type of document
Research results overview

Sample pages

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