On September 28, ACGA sent a formal letter tothe Ministry of Justice and keymembers ofthe Legislative Advisory Council's Company Law Sub-Committee in Japan. The letter was made public and is available on BDTI's data libary athttp://bdti.mastertree.jp/f/l0ngs7zm.
ACGA's announcement on its web site can be foundat http://www.acga-asia.org/. In it. ACGA explains that it submitted the letter to provide ourviews on discussions the Sub-Committee will be having on amendments to the Company Law that will affect Japan's corporate governance model.
The lettermakes recommendations on six main issues:
Independent directors;
Board committees;
Role of boards;
Voting by Kansayaku;
Shareholder approval rights; and
The Joint Audit Committee Company Proposal (which is explained and discussed in previous entries and comments to BDTI's discussion forum)
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.