“Nicholas Benes: ‘Governance a Big Deal’ ” (Interview in The Oriental Economist)

Nicholas Benes is Representative Director of The Board Director Training Institute of Japan, which trains directors as a government-certified “public interest” nonprofit. Since 2010, he has chaired the Growth Strategy Task Force of the American Chamber of Commerce in Japan.

The Japanese government and the Tokyo Stock Exchange have taken a number of steps aimed at improving corporate governance on the assumption that this will not only improve returns for shareholders, but also improve corporate efficiency and growth prospects.

コード制定後、コーポレートガバナンス報告書の英語版を提出した企業は何社でしょうか? 全体の約10%に過ぎません

ガバナンス・コートは英語の情報開示を促しているが、直近12ケ月の間、東京証券取引所(TSE)にコーポレートガバナンス報告書の英語版を提出した企業数は15社に過ぎません。(中にはガバナンス・コートの制定後に提出した企業はその約10%に当たる10社あります。

Grand Total of 15 Companies Submitted English Corporate Governance Reports to TSE in Past Year

Only 15  companies have submitted English language Corporate Governance Reports to the TSE in the past 12 months…even though the CG Code asks companies with many foreign investors to consider that.  We need significantly more than 15.   Boys be [more] ambitious!  But recently I was able to convince the TSE to at least make a list of the companies that DO have English reports, so that we can single them out for praise.  You can find the list on a downloadable Excel file on this page.

QUICK ESG:  「東証「改正規程」に基づき報告書を開示した上場会社」

QUICK ESG によると、今まで東京証券取引所にコーポレートガバナンス報告書を提出した98社の企業の中、何と61社は「full comply」らしいです。これは、「エクスプレーン」をする必要がある項目がない」と各社が自己判断をして、従って「当社は、コーポレートガバナンス・コードの各原則を実施しております」という各社の自己発言の基づく数字のようだ。

Bloomberg: “Zero Tolerance? Toshiba Tries Opposite in Accounting Scandal”

– Thirty executives named in accounting scandal won't be fired
– Ousted board members stay on the payroll as advisers

“The rule at GE is one strike and you’re out,” said Nicholas Benes, representative director of the Board Director Training Institute of Japan. “What I’m seeing is something closer to 100 percent tolerance at Toshiba.”