The Land Appraisal Committee under the MLIT publishes those market values per square meter of standard sites as of January 1 every year, which have been assessed by the Committee on the basis of real property appraisal. 26,000 standard sites were selected across the country by the Committee in 2017. The Land Market Value Publication has provided basic information about the land market in Japan since 1970.

♦Land Market Value Publication is given the following roles by statute:

1. to publish the market value index for ordinary land transactions (Art. 1(2), Land Market Value Publication Act)
2. to provide an indication of the market value of standard sites for real property appraisal by LRPA (Art. 8, Land Market Value Publication Act)
3. to provide an indication of standard site values for calculation of the purchase price of land for public facilities (Art. 9, Land Market Value Publication Act)
4. to provide an indication of standard site values for calculation of compensation amounts by the Prefectural Expropriation Committee (Art. 10, Land Market Value Publication Act)
5. to provide an indication of standard site values for calculation of the examination of land transaction based on the National Land Use Planning Act (Art. 16, para. 1(i), Art. 27(5), para. 1 (i) and Art. 8, para. 1(i) of the National Land Use Planning Act)
6. to provide an indication of standard site values for calculation of the purchase price of land based on the National Land Use Planning Act (Art. 19, para. 2 and Art. 33 of the National Land Use Planning Act)
7. to provide an indication of standard site values for calculation of the purchase price of land for public facilities based on the Act on Promotion of Acquisition of Public Land (Art. 7 of the Act on Promotion of Acquisition of Public Lands)

♦Market values of standard sites are the value of those lots which are recognized as standard for usage of land and value influence factors in neighborhood areas. The market value of a standard site does not uniformly indicate the value of all sites within the neighborhood area.