Keidanren (Japan Business Federation) has always advocated that, to build an affluent and vibrant society led by the private sector under a fair and free market economy, corporations must behave with a strong sense of ethical values and responsibility and gain trust and rapport from the public. To this end, Keidanren established its Charter of Corporate Behavior in 1991, in which it has laid down the principles for responsible behavior by corporations. The Charter and the Guidance have subsequently been revised several times to reflect changes in social conditions.

In December 2022, Keidanren revised the preface and the Implementation Guidance of its Charter of Corporate Behavior to realize a sustainable society and to deliver  on the SDGs through the realization of Society 5.0.