exoad Inc. (head office: Minato-ku, Tokyo; representative: Keisuke Kimura), which provides carbon credit services within the ASUENE Group together with Ca bo EX, and the Carbon Credit Market Development Office of Tokyo Stock Exchange, Inc. (head office: Chuo-ku, Tokyo; representative: Ryusuke Yokoyama), will conduct another large-scale survey on the carbon credit market starting Friday, May 15, 2026, following last year’s survey. The survey aims to understand the outlook for demand, supply, and prices in Japan’s domestic carbon credit market, as well as market challenges, in order to improve market predictability and contribute to the healthy development of the industry as a whole. The results will be statistically aggregated and analyzed, then published around August 2026 so that companies, local governments, investors, policymakers, and other stakeholders involved in the carbon credit market can use them as reference material for decision-making. The survey will examine demand, supply, price outlooks, and market issues in Japan’s domestic carbon credit market from multiple perspectives, with the goal of improving predictability from both the demand and supply sides. In particular, it will organize basic information useful for market participants’ decision-making by covering demand and supply outlooks for allowances under Phase 2 of GX-ETS, J-Credits, and JCM credits, as well as practical challenges in procuring and generating carbon credits. The survey period runs from Friday, May 15 to Tuesday, June 30, 2026, and the survey will be conducted online. Target respondents include buyers in the carbon credit market, credit generation project operators including those considering entry, intermediaries, consulting firms, verification-related businesses such as MRV and VVB providers, research firms, organizations involved in system design and operations, local governments, NGOs and NPOs, research and academic institutions, and other professionals working in the field. Pa