In addition, in order for the markets to be a place in which many investors feel safe in participating, the fairness of transactions based on proper governance and high ethical standards has to be guaranteed. In Japanese securities markets, especially after the burst of a bubble, various kinds of system reform have been made in order mainly to achieve a sound competitive environment.
However, securities markets have recently been exposed to harsh global competition. In order to maintain the international competitiveness of Japanese securities markets, it is critical to unflaggingly implement efforts to enhance the markets’ efficiency and fairness in the future.