Corporate Governance: Can Japanese Business Adapt to a New Era?

In June this year, the Financial Services Agency and the Tokyo Stock Exchange released a Corporate Governance Code, touting principles like “disclosure” and “transparency.” A few weeks later, the CEO of Toshiba resigned over a massive accounting scandal stretching back years. Can Japanese business restore faith in the stock market while meeting the challenges of nimble and responsible corporate governance?

Change Brewing in the Boardroom: A Proxy Adviser Assesses Corporate Governance in JapanTakenaka Harukata

Proxy advisers are a new phenomenon in Japan, where companies are only now beginning to treat shareholder interests as a serious priority. In an exclusive Nippon.com interview, Executive Director Ishida Takeyuki of Institutional Shareholder Services in Japan offers his unique perspective on the reforms that are slowly but surely changing the face of corporate governance in Japan.
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In Pursuit of Good Governance: An Interview with Murakami Aya of C&I Holdings

Murakami Aya, CEO of the investment firm C&I Holdings, explains her company’s approach as an activist investor pushing corporate management to implement proper governance.
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Toshiba Accounting Scandal Highlights Issues in Corporate GovernanceMori Kazuo

Though Toshiba had actively adopted corporate governance practices, an independent investigation found that the company’s top executives were complicit in fraudulent accounting. As Japan continues to bolster its governance rules, the incident serves as a lesson for other firms.
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Toward a Multi-Stakeholder Model of Corporate GovernanceHanazaki Masaharu

Over the past two decades, Japanese corporations have moved away from an outdated governance model rooted in keiretsu relationships and “main bank” financing toward a more shareholder-oriented system. Amid this ongoing shift, economist Hanazaki Masaharu calls for a new emphasis on social responsibility and sustainability through wide-ranging dialogue with internal and external stakeholder groups.
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