【Disclosure G】Call for Applications: Companies Seeking Individual Support for the FY2024 English Information Disclosure Support Program (Closed)

This article was automatically translated.

Our organization will once again recruit and select companies for the English Disclosure Support Program (Disclosure G) this fiscal year as part of our efforts to realize an international financial center.

   This program provides IR support to companies with relatively small market capitalization in emerging markets. Support includes: – Assistance in building an equity story that communicates the sustainability of business activities – Advice on preparing earnings-related disclosure materials and support for their English translation – Guidance on communicating with overseas investors The Japan Exchange Group, Inc., and Tokyo Stock Exchange, Inc. are supporting this program.

   This year, the application requirements no longer include a restriction on the number of years since listing. The program targets companies with a market capitalization of 100 billion yen or less. Other application requirements also apply, so please ensure you review them carefully before applying.

If you have any questions, please feel free to contact the secretariat.

English Information Disclosure Support Program

Implementation Guidelines

FY2024 Disclosure G Implementation Guidelines

These guidelines consist of four parts: the "English Information Disclosure Support Project" Guidelines (Main Rules), the "Application Guidelines for the English Information Disclosure Support Project," the "Implementation Guidelines for Selecting Participants in the English Information Disclosure Support Project," and the "Implementation Guidelines for the English Information Disclosure Support Project." Please be sure to review these guidelines before applying for this support program.

Support Program Content

1. Equity Story Development Support
2. Advice on Preparing Financial Results Summaries and IR Presentation Materials, and Support for Their English Translation
3. Advice on Communication with Overseas Investors

In principle, the support programs listed in items 1 through 3 above will be implemented. However, the content of the support program may be modified at the discretion of the IR support provider based on the circumstances of the selected business operator.

Pre-briefing materials are available here: Individual Support_Pre-briefing Materials

Applicant Requirements

Applicants must be corporations that fully meet all requirements listed in "Section 2: Applicant Requirements" of the "English Information Disclosure Support Program Application Guidelines," including the following criteria. Support programs will be implemented for companies selected by the Selection Committee from among applicants meeting these requirements.

1. The company must already be listed on the Tokyo Stock Exchange Growth Market or Tokyo Stock Exchange Standard Market.
2. Have a market capitalization of less than 100 billion yen as of the closing price on April 1, 2024 (however, if not listed as of April 1, 2024, the closing price on the listing date or the closing price on the last business day of the preceding month shall be used as the reference date).
3. The company must not have a parent company listed on the TSE Prime Market. Note that "parent company" refers to the parent company as defined in Article 8, Paragraph 3 of the Ordinance on Terminology, Forms and Preparation Methods of Financial Statements, etc. (Ministry of Finance Ordinance No. 59 of 1963).
4. The company must have a head office, branch office, sales office, or other operational base in Tokyo.
5. The company must have an IR system capable of conducting IR activities for overseas investors, or have plans or intentions to establish such a system.
6. The company actively practices or has plans or intentions to practice business activities that consider ESG factors.
7. The company is expanding its business into global markets or has plans or intentions to do so.
8. Not having received English-language information disclosure support from our organization in previous fiscal years.

Number of Companies Selected

Approximately 15 companies are planned for selection in fiscal year 2024. Note that applications will close once the expected number of selected companies is reached.

Application for this support program

Application Form

Third Deadline: Thursday, July
25 Note: If you encounter difficulties with the above, please consult FCT individually. If the selection process after the deadline does not reach the specified number of companies, applications will remain open.

 Application Fields

• Company Information
• Contact Information
• Listing Information (Stock Code, Market Capitalization (based on closing price as of April 1, 2023), etc.)
• Information on Your Company's Disclosure and IR Activities (Company business introduction, current IR structure, management commitment to IR, status of English disclosure implementation, current IR challenges, current quarterly IR activities (number of meetings with individual investors, domestic/overseas institutional investors, and analysts), requirements for IR support, disclosure materials requiring English translation support, ESG initiatives, status of overseas business expansion)

Sponsored by

Japan Exchange Group
, Inc. Tokyo Stock Exchange, Inc.

*Important questions received regarding this initiative will be posted on this page as Q&A entries, including both the question and the response.

Q&A

Q1. If we apply for the earliest selection committee schedule and are selected, when is the support program expected to start?

A1. To maximize the support period, we plan to hold the first selection committee meeting once we have received applications from companies. Since the first deadline is set for 5:00 PM on Friday, May 24, companies that apply by this time will be eligible to participate in the first selection committee meeting.

Q2. Are companies already disclosing their earnings releases and earnings explanation materials in English still eligible for support?

A2. Yes, you are eligible. However, we consider it important to understand how you wish to improve and strengthen your existing English disclosure efforts, such as further refining disclosure materials or expanding English disclosure documents. Please note that the application form includes a question asking for "disclosure materials for which you specifically request English translation support." If you wish to have English translations of disclosure materials other than the financial results brief and financial results briefing materials, we will consider providing support.

Q3. How will the actual support be provided? Will a dedicated person be assigned?

A3. As this is primarily individual support, we plan to assign a dedicated contact person to provide close support to each company. Transpacific Inc., the contractor for this project, will implement the support. The frequency and format of meetings will be determined in consultation with each company after selection.

Q4. I understand this support program was also implemented last year. What is the outlook for implementation next year and beyond?

A4. Implementation beyond next fiscal year is undecided. We recommend applying early if you are interested in this program. Please note this is a Tokyo Metropolitan Government subsidy program based on a single-year budget.

Q5. Are there any additional costs associated with receiving support?

A5. No additional costs will be incurred for support within the scope outlined in the implementation guidelines. Applicants must specify the disclosure materials they wish to receive support for on the application form. The specific support content will be determined through consultation after selection.

Q6. What factors are emphasized during the selection review?

A6. Support recipients will be selected based on a comprehensive evaluation of the application form and interviews. In addition to management commitment, attitudes toward overseas expansion are also considered important perspectives for conducting overseas IR. Therefore, we ask that you describe these points as concretely as possible in the application form and discuss your IR plans and enthusiasm during the interview.

Q7. Regarding the application requirement for "IR structure," our company has just established its IR function and is currently effectively managed by one person. Does this mean we do not meet the requirement?

A7. Having only one IR staff member is not a problem. However, since English disclosure will need to continue going forward, we would appreciate it if you could describe your plans or intentions for future organizational development in the application form.

Q8.
When creating English translations, I assume this would generally follow the completion of Japanese materials. In that case, would we aim for simultaneous disclosure? Or would the English version be disclosed later?

A8. Disclosure timing and volume can be adjusted based on the company's needs. For companies desiring simultaneous disclosure, we request schedule adjustments such as signing an NDA between the company and the IR support provider to begin translation at the draft stage, or setting an earlier completion date for the Japanese materials.

Q9. If, during post-selection meetings, the company's requirements and your resources prove incompatible, is it possible to withdraw from the engagement afterward? 

A9.
Withdrawal of the selection result is possible in accordance with the following guidelines. We will adjust schedules and other matters to accommodate your requests as much as possible. However, as this is a project implemented with subsidies, we strongly encourage you to proceed positively to ensure the project objectives are achieved.
"Section 7: Withdrawal of Selection Result 1
. A selected business entity, in accordance with the Business Entity Selection Implementation Guidelines, may withdraw its status as a selected business entity, including its rights and obligations, if it objects to the content of the support program.
2. To withdraw, the selected entity must submit the "Notification Form for Withdrawal of Selection Results," separately prescribed by this Corporation, to this Corporation."

Inquiries
: "English Information Disclosure Support Project" Secretariat disclosure.g@fincity.tokyo

Pre-Program Briefing (Completed)

Companies with questions or concerns regarding individual support can participate in the pre-briefing session via the link below. Previously asked FAQs are listed at the bottom of the page.

Date/Time: Please choose the session that suits your schedule. (2 sessions total)

May 10 (Fri) 12:00 PM – 1:00 PM,
May 16 (Thu) 12:00 PM – 1:00 PM

Format: Online (Using Zoom)

Pre-Event Briefing Registration: Please register for your preferred session here. Note that you can apply for individual support even if you do not attend the briefing.

We kindly request that you register by Wednesday, May 8, 2024.