A review of Japan’s legal requirement for firms to provide quarterly financial reports is a matter of course, given Prime Minister Fumio Kishida’s "New Capitalism" policy framework, according to the head of a ruling party finance panel.

"It’s meaningful to do this as we aim for a (style of) capitalism that will enable Japan to grow,” Satsuki Katayama, a former Finance Ministry bureaucrat and head of a ruling Liberal Democratic Party committee on finance and securities, said in an interview Friday. "But there is absolutely no intention to reduce the amount of information companies disclose.”

Katayama added that the legislation was not scheduled for revision this year, and that companies pressed by major investors to continue to provide reports four times a year would probably do so even without the force of law.