As one example of our policy advocacy activities in the capital markets, Oki Matsumoto, chairman of the board of Monex Group, Inc., became a member of the Tokyo Stock Exchange’s (TSE) Council of Experts Concerning the Follow-Up of Market Restructuring*. With his 25-year experience as a founder and president of a publicly listed company, as well as his expertise in engagement activities as chairman to Monex subsidiary Japan Catalyst, Matsumoto uses the Follow-up Council platform to actively propose initiatives that enhance outside directors’ awareness of their role to protect minority shareholder interests and that activate corporate action, such as market restructuring to promote M&As, all with a focus on effectiveness. Matsumoto has also made significant contributions to the release of “Action to Implement Management that is Conscious of Cost of Capital and Stock Price,” TSE’s request to listed companies based on discussions at the Follow-up Council.
At Coincheck, Inc., Keigo Takegahara, Senior Executive Officer, CFO, and Head of the Corporate Strategy Division, participates in the Japan Cryptoasset Business Association (JCBA) as vice chair of a subcommittee. To support the sound growth of Japan’s cryptoasset, blockchain, and Web3 businesses, he participates in discussions on taxation issues and engages in policy advocacy and lobbying for tax reform.
As of July 31, 2023, the JCBA and the Japan Virtual and Crypto Assets Exchange Association (JVCEA) had jointly compiled their FY2024 tax reform requests concerning cryptoassets and submitted them to the Financial Services Agency and other relevant government ministries and agencies. To revitalize the Web3 industry, the requests called for measures including separate taxation of individuals’ cryptoasset income at a rate of 20%, the introduction of loss carryforwards, and appropriate tax treatment concerning cryptoassets held by corporations other than the issuer, inheritance and gift taxation, and exchanges between cryptoassets.
