We provide data and information on Japanese equity services, including:
1. Corporate governance data
2. Financial data on public companies, on a quarterly basis
3. Reports on the Japanese equity market:
___(1) Proxy voting guidelines and procedures in the Japanese equity market
___(2) The Japanese Corporation Law
___(3) The proxy voting procedures for constituent equities
______in the MSCI Japan Index MSCI Member
___(4) Corporate governances news

Paid subscribers to our organization can download all the information contained in our
database, including financial and corporate governance data, as well as the agendas of
annual meetings and audit committees. Text data and numerical data files are available
in PDF format and CSV format respectively.

1. Corporate Governance Data

We provide members with data on corporate governance. The data available will enable
institutional investors to decide how use their voting proxies for each company in
respect of such matters as the holding/non-holding of annual meetings, corporate policy,
accounting standards, the current conduct of corporate governance and many others.

It is our hope that such information will help subscribers to ascertain more clearly
the current status of a given company's corporate governance and the future challenges
that the company may face. As well as helping our subscribers to make investment
decisions, this facility will also encourage companies to improve their standards of
corporate governance.

Governance Visions is not a Japanese equity index. Our service currently covers
approximately 400 stocks, which are included in the MSCI Japan Indices.

Information on corporate governance includes, for example:
Board: size, composition, independence, compensation, stock ownership, frequency of
meeting, etc.
Auditors: independence, term limits, etc.
Committees: number of committees, assignment of committee members, types of
committees (corporate governance, audit committees, business advisory boards), etc.
Equity: types of stock, ownership of treasury stocks, issuance of stock options
Defensive measures against hostile buyout: maximum paid-up capital, shareholder
rights plan, classified board, etc.
Business results: Financial information about individual public companies, etc.

The corporate governance data covers various fields, including basic information about
directors and about how the data is calculated and evaluated. The independence of
the board and transparency of the company will be examined from a broad perspective,
using available data.

Note: Recent amendments to the Japanese Commercial Law will come into effect on
May 1, 2006. Because annual general meetings in Japan usually take place in June,
there will be little time to prepare for meetings that will comply with the revised
Law. Many companies will therefore take advantage of grace period and prepare
financial statements based on the old legislation as an interim measure. However,
it is expected that more information on other matters will be disclosed during future
annual meetings.
As soon as more detailed information on the qualification of directors, such as past
experience, expertise, knowledge and skills becomes available, it will be added
promptly to the database.

2. Financial data

Accurate financial data on public companies will be provided on a quarterly basis.
Data items include:

3. Reports on the Japanese equity market
(This is a subscription service)

(1) Proxy voting procedures in respect of Japanese market.
___Price: US$ 500.00 per stock
___A report on ex-dividend date, closing date of proxy voting, voting
___infrastructure, etc).
(2) New Corporate Law.
___Price: US$ 1,000.00
___A report outlining Japan's New Corporate Law and its basic provisions,
___which define how proxy voting is conducted in Japan.
(3) Proxy Research Report : MSCI
___Japan Index
___Price: US$: 100.00 per company
___Price: US$: 10,000.00 for annual subscription
(4) Corporate governances news
___Price : free

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