Foreign investors unhappy with English information

A survey has found that nearly 60 percent of foreign investors are dissatisfied with information disclosure in English by listed companies in Japan.

The Tokyo Stock Exchange conducted the survey of mostly overseas institutional investors in July and August. It asked them about the English-language material such as earnings reports that gets released by Japanese firms. It received 54 responses.

The results show that 22 percent of respondents were dissatisfied with the level of English disclosure, and 35 percent were somewhat dissatisfied.

Eleven percent said they were satisfied and 28 percent said they were somewhat satisfied.

The TSE says many cited discrepancies in the quantity of information between Japanese and English disclosures and the slow release of English-language materials.

Some investors also said that because companies failed to disclose sufficient information in English, they had to exclude them from their portfolios or discount their stocks when evaluating them.

TSE officials say the survey shows how information that's available in English can greatly affect stock prices.

They say Japanese companies should engage more in dialogue with overseas investors.