ACGA Submits Letter to the Ministry of Justice’s Company Law Subcommittee

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 at

ACGA's announcement on its web site can be foundat 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.

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