Enterprise Law
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Enterprise Law

Contracts, Markets, and Laws in the US and Japan

Edited by Zenichi Shishido

Enterprise law represents the entire range of private contracts and public regulations governing the relationship of different capital providers. Enterprise Law comparatively analyses the way these fundamental legal frameworks complement each other in the United States and Japan.
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Chapter 4: Employee stock purchase plans in Japan

Yohsuke Higashi


Employee ownership is widespread across the globe. Japan represents a good example of a country where employee ownership enjoys great popularity. A broad-based employee stock purchase plan (ESPP) called j_gy_in mochikabu seido is prevalent among Japanese listed corporations. As of March 31, 2013, 2,109 out of 2,306 (or 91.5 percent) Japanese corporations listed on the Tokyo Stock Exchange (TSE), have adopted ESPPs. The appeal of employee ownership is that it benefits everyone. By adopting it, employees will be able to share in the upside of the corporate business through the rise in its stock price and thus be motivated to work harder and more efficiently, which in turn results in improved productivity, better corporate performance and higher returns for shareholders. This is how the story goes.

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