2026年CGC改訂で知的財産は「成長投資・・・」の中核要素へ

3/5/2026

2026年7月実施予定のコーポレートガバナンス・コード（CGコード）改訂案は、「実質化」と「スリム化」を柱とし、守りから攻めのガバナンスへの転換を目指し、2027年7月末の報告書から適用されます。
本コード改訂案における留意事項等は、成長投資の促進、取締役会の機能強化、有価証券報告書の定時株主総会前の開示、であり、特に成長投資の促進が重要なところでしょう。
成長投資の促進について、本コード改訂案においては、取締役会の役割・責務として、成長投資等に向けた取組みの重要性を明記しています。
① 会社の目指すところに向けた成長の道筋を構築すべきこと
② 成長の実現に向けて成長投資（設備・研究開発・人的資本・知的財産等の無形資産への投資等）や事業ポートフォリオの見直し等の経営資源の配分に関し具体的に何を実行するのかを説明すべきこと
③ 自社の経営資源の配分が、成長の実現を目指して策定・公表した経営戦略や経営計画に照らし適切なものとなっているかについて不断に検証を行うべきであること
この2026年CGコード改訂案は、知的財産の扱いを「開示項目」中心から、「成長投資・経営資源配分・取締役会監督」の中核要素へ移した改訂といえ、各企業において、しっかりと対応することが必要でしょう。
この2026年CGコード改訂について、知的財産の視点から生成AIに深掘りさせました。なお、生成AIによる調査・分析結果は、公開された情報からだけの分析であり、必ずしも実情を示したものではないこと、誤った情報も含まれていることについてはご留意されたうえで、ご参照ください。

Under the 2026 Revision of the Corporate Governance Code, Intellectual Property Becomes a Core Element of “Growth Investment, Management Resource Allocation, and Board Oversight”
The proposed 2026 revision to Japan’s Corporate Governance Code, scheduled to take effect in July 2026, is built around the two pillars of “substantive implementation” and “streamlining.” It aims to shift corporate governance from a defensive posture to a more proactive, growth-oriented approach, and will apply from the reports due at the end of July 2027.
The key points to note in this proposed revision are the promotion of growth investment, the enhancement of board functions, and the disclosure of annual securities reports before ordinary general shareholders’ meetings. Among these, the promotion of growth investment is likely to be particularly important.
With regard to the promotion of growth investment, the proposed revision expressly states, as part of the roles and responsibilities of the board of directors, the importance of initiatives aimed at growth investment and related matters.

Companies should establish a growth path toward their desired corporate direction.
Companies should explain specifically what they will do in terms of allocating management resources, including growth investments—such as investments in facilities, research and development, human capital, intellectual property, and other intangible assets—and reviews of their business portfolios, in order to realize growth.
Companies should continuously verify whether their allocation of management resources is appropriate in light of the management strategies and business plans they have formulated and disclosed to achieve growth.

This proposed 2026 revision to the Corporate Governance Code can be understood as a revision that shifts the treatment of intellectual property from a focus mainly on “disclosure items” to positioning it as a core element of “growth investment, management resource allocation, and board oversight.” Each company will therefore need to respond to this change carefully and appropriately.
I had generative AI conduct an in-depth analysis of the 2026 revision to the Corporate Governance Code from the perspective of intellectual property. Please note that the research and analysis generated by AI are based solely on publicly available information and may not necessarily reflect the actual situation. They may also contain inaccuracies, so please refer to them with this in mind.

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