“Corporate Governance in Asia” Report by CLSA and ACGA

CLSA and the Asian Corporate Governance Association have published their 2010 version of CG Watch Asia. Japan's score moved up a to 57%, a level that however is still 23 percentage points below what ACGA considers to be the global best-practice score of 80%.The Japan section of the report is available on BDTI' data library. The full report can be purchased from ACGA.

Joint Audit Committee-Style Company – Proposal by METI

What is the general reaction to METI's proposal to amend the Company Law toenable formation ofa thirdtypeof company, a joint audit committee-style company? It isdescribedon pages 36-38 of this document: http://bdti.mastertree.jp/f/os68ejbz

NOTE: the summary translation file that was attached to the comment that was subsequently submitted in response (below) is available at: http://bdti.mastertree.jp/f/p5k7vzjg

Towards a Full Reform of Japan’s Governance Framework

(Reply to comment made yesterday.) Your idea* is a good one, but I believe that a much bolder reform of the corporategovernance framework is needed for Japan's markets.

The harsh reality is thatthe quality of corporate governance in Japan has lost much credibility and itslaws and rulesnow lag most other countries in Asia.