Japan to press for greater transparency at domestic VC firms

Disclosures code of conduct looks to draw international institutional investors

20231221N Marunouchi

Venture capital firms provided over 30% of the funding to Japanese startups last year. (Photo by Mizuho Miyazaki)

YUKI SEKIGUCHI, Nikkei staff writer

TOKYO -- Japan's financial regulator plans to publish a code of conduct recommending broader disclosures by domestic venture capital firms at levels in line with global best practices, Nikkei has learned.

The government seeks to turn Japan into an asset management hub, where startups enjoy steady access to growth capital. But institutional investors have complained that funds managed by Japanese VC firms lack transparency.

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