@article{oai:sucra.repo.nii.ac.jp:00016992,
 author = {箕輪, 徳二},
 journal = {社会科学論集, SHAKAIKAGAKU－RONSHU (The Social Science Review)},
 month = {},
 note = {The current value accounting institution of the financial instruments was introduced in 2001 (publication January 22nd, 1999; application since April 1st, 2000; “investment securities” application since April 1st, 2001, the preceding fiscal year). This article considers the influence on the Japanese cross-stockholding structure which the introduction of the current value accounting institution of the financial instruments brought about. It also investigates the progress (since end of business year of March 31st, 2010) of the disclosure contents concerning the corporate governance of the listed corporations and the disclosure of cross-stockholding for policy purposes. This paper uses Mitsubishi UFJ financial group for its analysis.
 Since after World War II, stock possession in listed corporations in Japan has had a cross-stockholding control structure, which means circular corporation possession by corporations (financial institutions and corporations). This control structure focused on the 6 big business groups Mitsui, Mitsubishi, Sumitomo, Dai-Ichi Kangyo Bank, and Sanwa. The bond inside a group consisted of financing to affiliated companies, dispatching of company executives to similar companies by similar financial institutions, and sharing of stocks. This cross-stockholding structure was maintained through president meetings and regular communication. It made similar corporate executives realize that management has to do with long-term stability, with emphasis on foreign competitiveness, and with the possibility of long-term investments. All of this was very effective in the high economic growth period in Japan.
 However, the situation changed: stock prices crashed in 1990, land prices fell in 1991, the bubble economy burst, and bad loans caused big problems. This led to an increase of stock evaluation loss damages to net asset worth. It induced such cases as the bankruptcy of Hokkaido Takushoku Bank, or Yamaichi Securities going out of business in 1997. A long-range stagnation of the Japanese economy started with this financial market instability. The major 10 commercial banks integrated management into 4 lines beyond the walls of business groups. The reorganization of Bank of Tokyo-Mitsubishi (Tokyo Bank, Mitsubishi Bank) in April 1996, the Mizuho Financial Group (Japanese Industrial Bank of Japan, Fuji Bank, Dai-Ichi Kangyo Bank) in 2002, Sumitomo Mitsui Banking Corporation (Sakura Bank, Sumitomo Bank) in October of the same year, UFJ (Sanwa, Toukai) in January 2002 and finally Resona Bank (Asahi Bank, Daiwa Bank) in March 2003 moved ahead.
 “The accounting standard for financial instruments"  was applied from the business year beginning April 1st, 2000. First, it introduced current value accounting into “trading securities”， it differentiated between the book value and the final current price of “investment securities” in an explanatory note disclosure, and in April 1st 2001, propriety elucidation application was accomplished. The current value accounting application for financial instruments made impossible the realization of profit accounting operations like in historical cost principle times; and the elucidation of stock evaluation profit and loss, and of the variance-of-the-estimate had a big influence on the change of profit from the main business of the company. The crash and the fall of the stock prices damaged net asset worth. The cross-stockholding structure increased shareholding risk, companies continued to sell investment securities, and then suffered an additional blow because of the application (March 31st, 2011) of “the comprehensive income”  disclosure. Moreover, the introduction (March 31st, 2010) by the corporate governance regulation of elucidation of purpose of possession of “investment securities” seems to have improved the usability of investment information on “investment securities” which are interdependent stocks, and it seems to have increased transparency.
 When analyzing the actual possession state of the interdependent stocks of Mitsubishi UFJ Financial Group, we can see that in spite of the current value accounting processing by such “investment securities”，or the elucidation regulation introduction concerning the purpose of possession, the cross-stockholding among the companies which form the core of the group continued. The control structure of the company management which finds long-term stability of management in the group as a capitalist enterprise was clearly maintained., はじめに―問題の所在―
1.金融商品会計の導入の経緯
2.「金融商品会計基準」導入とその規制
3.上場会社のコーポレート・ガバナンス（企業統治）に関する開示内容の充実―政策目的で保有する株式を中心に―
4.金融商品会計基準適応と株式所有構造の変化―株式持合いと会社支配機能―
おわりに, text, application/pdf},
 pages = {151--180},
 title = {日本の金融商品会計とコーポレート・ガバナンス開示規制 : 持合株式の時価会計・保有目的の開示と会社支配機能を中心に《論文》},
 volume = {139},
 year = {2013},
 yomi = {ミノワ, トクジ}
}