Which document is commonly cited as the source of the “8% ROE” reference point for Japanese companies?
The Ito Review, published by METI in August 2014, identified 8% ROE as a possible threshold above global investors' expected cost of equity.
IR PRACTICE CURRICULUM
Understand Japan's governance reforms
Understand Japan's governance reforms
as one practical sequence.
From the capital-efficiency gap to today's policy agenda. A primary-source-based curriculum that IR practitioners can follow in order.
CURRICULUM OVERVIEW
See the reforms as one connected story
Each theme builds on the last. Read the full sequence, or begin with the issue most relevant to your work.
5 themesReforms from the 1990s to today
27 articlesWith links to primary sources
Free accessFor IR teams, analysts, and board offices
CURRICULUM
Five themes
The sequence follows the reform timeline and makes the links between institutions explicit.
PRACTICAL SOURCES
Open the toolbox →
IR Toolbox
Nine categories bring together the codes, disclosure lists, best-practice materials, and working-group reports used in practice.
KNOWLEDGE CHECK
Check your starting point.
Three questions cover ideas that are essential to the overall reform story.
Which idea is not part of the TSE's request for management conscious of cost of capital and share price?
PBR is not the target itself; it is an outcome of the market's assessment.
When did simultaneous Japanese–English timely disclosure become mandatory for Prime Market companies?
The requirement took effect on 1 April 2025.
Score: 0 / 3
HOW TO USE IT
Choose the route that fits your purpose
Read in sequence
Move from Theme 1 to Theme 5 for the full reform arc. Allow roughly 8–12 hours.
Start with a theme
Begin with the issue in front of you. Every article points to related material.
Use it at work
Start from the IR Toolbox when you need the relevant primary source or explanation.
IR TEAM TRAINING
Use the curriculum for internal training.
We can structure the content and schedule for new IR staff, internal study sessions, or pre-IPO teams.
Discuss IR training →