JIRA Code of Ethics

September 1, 2005

JMember companies of the Japan Investor Relations Association (JIRA) and their personnel responsible for investor relations (IR) shall acquire a through understanding of the basics of IR and faithfully obey its ethics. In other words, they shall provide spontaneous and timely information concerning their company's corporate philosophy, corporate planning, and financial position and through their IR activities seek to improve the investment environment and promote more transparent and dynamic financial markets, which will lead to the realization of a fair and healthy market economy.


  • Member companies and their personnel responsible for IR shall provide fair and reliable information that will enable recipients to make correct decisions.
  • In particular, the disclosure of information that may influence stock prices or investment decisions shall not be limited to that required by regulations but shall be undertaken spontaneously and pro-actively.
  • Information shall be disclosed in a timely and prompt manner.
  • Information shall be disclosed in an open manner to market intermediaries, such as analysts and rating agencies, and shall be disseminated widely, including to both individuals and corporations.
  • Information shall be managed in a transparent and fair manner so as to prevent the use of undisclosed information by only certain parties.
  • Care shall be taken to ensure that information is easy to understand, is comparable, and promotes a common understanding of the information among a wide variety of investors. In this regard, efforts shall be made to establish new standards that facilitate international comparison.