It has no market drivers because it is fixed by law, and the publisher gives no market reading; the day comprises 4 palace events.
- Shukuga-no-gi (congratulatory ceremony): the Emperor receives greetings from the imperial family, prime minister, Diet leaders and chief justice.
- Enkai-no-gi (banquet ceremony): banquet with legislative, executive and judicial leaders, governors and representatives.
- Chakai-no-gi (tea reception): tea reception for heads of diplomatic missions.
- Ippan-sanga (general public greeting): morning balcony appearances and afternoon greeting-book signing at the Imperial Palace.
The date follows the reign, not the calendar, as the 2019 gap year shows. The Cabinet Office file lists 23 December 2018 as Emperor's Birthday for Emperor Akihito, with 24 December as substitute. It shows no Emperor's Birthday row at all in 2019.
The first 23 February entry appears in 2020, with 24 February as substitute because 23 February fell on a Sunday. The holiday was observed in 2020 to 2022 while greetings were cancelled, then greetings resumed with 8,804 visitors in 2023 and 15,883 in 2024.
The Cabinet Office file runs back to 1955 and covers all 16 holidays.