The Company Law Committee of the MOJ's Legal System Advisory Council has announced its schedule and agenda for meetings over the next few months. (http://bdti.mastertree.jp/f/ubqlzgph) Read more–>
On September 29 the Committee will (in one meeting!) the topic of the system of corporate governance, to include: a) the authorities and effectiveness of statutory auditors, and the possiblity of giving them the right to nominate statutory auditors and determine the compensation of outside audit firms; b) the monitoring function of outside directors, including the possibility of requirements to appoint outside director(s) and the criteria for such outside directors (meaning, independence criteria); and c) aspects of governance related to new capital issuance and the assurance that unnecessary issuance or dilition of shareholders does not result.
The Board Director Training Institute (BDTI) is a "public interest" nonprofit in Japan dedicated to training about directorship, corporate governance, and related management techniques. It is certified by the Japanese government to conduct these activities as a regulated nonprofit. Read a summary about BDTI here, and see a menu of its services for both corporations and investors here.