Japan Securities Depository Center, Inc.

HISTORY

MAY 1984 The Law Concerning Central Securities Depository and Book-Entry Transfer (CSD Law) waspassed, and later enforced in November 1984.
DEC. 1984 Japan Securities Depository Center (JASDEC) was founded as a non-profit foundation undera permit granted by the Minister of Finance and the Minister of Justice (competentministers) pursuant to Article 34 of the Civil Code.
MAY 1985 JASDEC was designated as a depository under the CSD Law by the competent ministers.
JUL. 1986 JASDEC instituted its business regulations with the approval of the competent ministers, andimplemented them on August 1 of the same year.
OCT. 1988 JASDEC decided to inaugurate depository services in stages lasting from October 1991
(Phase 1), through October 1992 (Phase IV).
FEB. 1989 JASDEC installed its mainframe computer at its computer center in Tokyo.
SEP. 1990 Development of software for use in the depository systems was completed.
OCT. 1990 Pursuant to the CSD Law, the competent ministers designated the following securities as
those eligible to be handled by the depository system(1) share certificates listed on any stock exchanges in Japan.
(2) share certificates registered with, or designated by, Japan Securities Dealers Association
as over-the-counter stocks(3) share certificates to be issued after the date of designation, which fall in the range
specified above.
AUG. 1991 With the authorization of the competent ministers, JASDEC entrusted part of its business tothe Japan Securities Clearing Corporation.
OCT. 1991 JASDEC began offering its depository services in the Tokyo area (Phase 1) in accordance with
its phased implementation plan.
APR. 1992 JASDEC started to provide the beneficial shareholder notification system on a complete basis
OCT. 1992 JASDEC began providing comprehensive depository services, covering all listed and OTCstocks (Phase IV).
JUN. 1993 The U.K. Securities and Futures Authority approved JASDEC as an eligible foreign custodian.
AUG. 1993 The U.S. Securities and Exchange Commission issued a no-action letter to exempt JASDEC
from Section 17(f) of the Investment Company Act of 1940 and Rule 17f-5(c) (2) (iii) .
JUN. 1997 The German Bankers Association approved JASDEC as an eligible foreign custodian.
MAY 2000 JASDEC implemented its new securities custody and book-entry transfer system.
SEP. 2000 JASDEC constructed a back-up center in Osaka.
MAY 2001 JASDEC launched the system for DVP settlement of the exchange trades in Tokyo and Osaka
JUN. 2001 The Law Concerning Central Securities Depository and Book-Entry Transfer (CSD Law)
was amended and became effective April 2002.
SEP. 2001 JASDEC implemented Pre-Settlement Matching System.
NOV. 2001 Committee for Reform of Securities Clearing and Settlement System(JSDA) published thereport on “Demutualization Framework of JASDEC”.
JASDEC started handling of corporate convertible bonds.
JAN. 2002 Japan Securities Depository Center Incorporated (JASDEC Inc.) was established.
FEB. 2002 Custody ratio recorded over 50%.
JUN. 2002 JASDEC transferred its businesses to JASDEC Inc. and dissolved.
JASDEC Inc. began securities depository and book-entry transfer operations.