JCGR Japan Corporate Governance Research Institute

About Us

Japan Corporate Governance Research Institute is an independent organization aiming to contribute to the development of a liberal economy through enhanced understanding of corporate governance’s relevance and its thoughtful adoptions and incorporation by organizations.

Our Mission

Japan Corporate Governance Research Institute aims to contribute to the development of a liberal economy through enhanced understanding of corporate governance’s relevance and its thoughtful adoption and incorporation by organizations.


JCGR’s core activities to carry out its mission are:

  1. 1.Research, study sessions, and workshops activities that contribute to widen understanding of corporate governance and the role it plays in Japan and the world
  2. 2.Macro-surveys on corporate governance and publication of results
  3. 3.Individual research on corporate governance and related issues
  4. 4.Consultation
  5. 5.Training for current and future expert resources
  6. 6.Reference material databanking
  7. 7.Projects and initiatives related to above activities.


Takaaki Wakasugi
Co-director, Mitsui Life Financial Research Center, University of Michigan Ross School of Business,
Professor Emeritus, University of Tokyo
Mamoru Obayashi
Professor, School of Commerce, Senshu University
Yuzo Fujishima
Chief Consultant, Research/Consulting Department, Japan Shareholder Service Co., Ltd.


Japan Corporate Governance Research Institute, or JCGR in short, was founded in 2001 as ippan shadan hojin, general incorporate corporation, for the purpose of assessing how corporate governance is and should be incorporated in Japan. Since 2002, JCGR has been conducting its flagship JCGIndex Survey annually, in which all companies listed on the First Section of the Tokyo Stock Exchange are sought to respond regarding their respective corporate governance undertakings.

In 2012, JCGR merged with the Outside Director Network of Japan, to become the Japan Corporate Governance Network (CG-Net). JCGR served as CG-Net’s research arm, continuing to implement the JCGIndex Survey annually and to host monthly study sessions on corporate governance and finance to broadly share JCGR’s understanding of corporate governance. The first such study session was launched in 2010.

On July 1, 2019, JCGR became independent of CG-Net. As a newly independent organization, it continues to pursue sharpened focus on research and educational activities in the area of corporate governance in Japan.

Upcoming JCGR’s Activities


The corporate governance survey – JCGIndex survey – for TSE listed companies has been continued since 2002. The survey up to 2017 was positioned the first phase survey. The survey items were renewed for 2019 and the second phase survey is going to start.

JCGIndex Survey has been conducted since 2008 with the generous financial support of the University of Michigan Ross Business School Mitsui Life Financial Research Center.


JCGR’s Early Morning Study Sessions on corporate governance and finance, first launched in 2010, are ongoing.

Moreover, JCGR will provide the workshops, the symposium, and other educational activities in cooperation with the network of excellent experts we have built up so far.


JCGR will provide an Individualized diagnosis for the company seeking to transition to a new and/or updated governance system. The diagnosis is conducted with the organization size, type of business, network operations, personnel and other corporate dimensions in mind. (JCGR is currently accepting individual requests.)

Think Tank Function

JCGR, although in itself a small organization, operates de facto as a think tank. It is equipped with strong access to external collaborators in the area of corporate governance research through expert networks it has built working on past projects. (JCGR is currently accepting individual requests.)

Expert Commentaries

To promote discussions on best practices and trends in corporate governance in Japan, the JCGR website houses a section featuring commentary contributions from expert sources.

Financial Supporter of JCGR Corporate Governance Research

 The corporate Governance Research (JCGIndex Survey) has been financially supported by Mitsui Life Financial Research Center of University of Michigan Ross School of Business.

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