Corporate Disclosure

The objective of the Corporate Disclosure Study Group is to promote the quality and fairness of corporate disclosure from the viewpoint of financial analysts. To achieve this goal, the Group has implemented a corporate disclosure evaluation and award system since 1995. The Group, comprising representatives from 20 sub-groups (18 industries, emerging markets, and disclosure to individual investors), formulates corporate disclosure review criteria (score sheets) for each industry / area specific features. The criteria attach greater importance to voluntary and positive disclosure rather than mandatory disclosure. Evaluations of emerging market companies and also of disclosure to individual investors were introduced in 2005.

For this year, the Group did not conduct evaluation for the Machinery.

For this year, the score sheets for 311 companies (283 for 17 industries and 28 for emerging markets) were filed by 576 financial analysts, and carefully analyzed / evaluated by each sub-group, and then the Group selected companies performing excellent disclosure in each industry / area as follows:

Corporate Disclosure

2021 Awards for Excellence in Corporate Disclosure

Disclosure Industries
Construction / Housing / Real Estate Sekisui House, Ltd.WIN
Foods Asahi Group Holdings,LtdWIN
Chemicals / Fiber Mitsui Chemicals, Inc.WIN
Cosmetics & Personal care FANCL CORPORATIONWIN
Pharmaceuticals Astellas Pharma Inc.WIN
Steel / Non Ferrous Metal NIPPON STEEL CORPORATIONWIN
Electric / Precision OMRON CorporationWIN
Automobile / Parts / Tires DENSO CORPORATIONWIN
Energy NIPPON GAS CO.,LTD.WIN
Transportation Japan Airlines Co., Ltd.WIN
Tele-Communication / Internet NIPPON TELEGRAPH AND TELEPHONE CORPORATIONWIN
Commerce MITSUI & CO., LTD.WIN
Retail MARUI GROUP CO., LTD.WIN
Banks Sumitomo Mitsui Financial Group, Inc.WIN
Insurance/Securities/Other Financing Business Tokio Marine Holdings, Inc.WIN
IT Service / Software Nomura Research Institute, Ltd.WIN
Advertising Services / Media / Entertainment Oriental Land Co., Ltd.WIN
Disclosure Emerging Markets
Emerging Markets HENNGE K.K.WIN
Uzabase, Inc.WIN
Medley, Inc.WIN
Disclosure to Individual Investors
Disclosure to Individual Investors CHUGAI PHARMACEUTICAL CO., LTD.WIN
Nomura Research Institute, Ltd.WIN
Ajinomoto Co., Inc.WIN
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