Michael Woodford’s Public Comment to the TSE Regarding “Revisions to Listing Rules..To Restore Confidence in Securities Markets”

From: MICHAEL WOODFORD
Sent: 26 March 2012 23:06
To: 'jojo-kikaku@tse.or.jp'
Subject: PUBLIC COMMENT IN RESPECT OF THE TOKYO STOCK EXCHANGE'S REVISIONS TO LISTING RULES REGARDING CORPORATE GOVERNANCE TO RESTORE CONFIDENCE IN THE SECURITIES MARKETS

Dear Sirs,

It has come to my attention that the Tokyo Stock Exchange (“TSE”) is collecting public comments regarding its proposed “Revisions to Listing Rules Regarding Corporate Governance to Restore Confidence in the Securities Markets” (the “Proposed Revisions”). I welcome this opportunity to present my views, and would like to thank the TSE for making efforts to improve corporate governance in Japan, and for providing a public consultative process.

My comments are as follows:

(We have uploadedMr. Woodford's entirePublic Comment to BDTI 's Data Library at the link below.In order to downloadthe PDF,you will need to register as a user of BDTI's website, -an easy (and free) process.)

http://bdti.or.jp/english/data_library#gallery-4d89abff5b23a1087d0c01e2cae0e69f039957060b28e026f4c623d887fa1662

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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