• JPN SESC published the annual disclosure inspection casebook for fiscal year 2023, to encourage market participants to take steps toward proper information disclosure (i.e. substantial shareholding).
• To present JPN SESC's recent efforts in inspections and details of substantial shareholding disclosure violations.
• Follows JPN SESC September 2023 issued disclosure inspection casebook.

Overview of Casebook

• Consists of recent disclosure inspection measures, achievements of disclosure inspections, recent cases of recommending penalty surcharge payment orders.
• Plus, past inspection cases and the status of appeal proceedings and individual cases.
• Adds cases in which disclosure inspection were completed between July 2023 and June 2024 and then recommendations for penalty surcharge payment orders were issued.
• Such as substantial shareholding reporting system violations, specific involvement activities.
• Explains substantial shareholding disclosure and internal control reporting systems that have been highlighted through disclosure inspections, taking into account recent institutional reforms.