Following the useful panel discussion yesterday, I looked up and am forwarding along this RIETI paper that discusses the positive impact of increased foreign stock ownership upon productivity growth, especially due to their “strong attitudes toward voting. In section 3 this paper also mentions several earlier studies that showed a positive relationship between foreign investment and corporate value, and a negative relationship between cross-shareholding and firm value.
Month: May 2012
JT to Buy its Own Shares Back from the Government
So, despite vastly under-performing when compared to global peers (see http://www.jtchange.com/JTChange/EconomicCase_Eng.aspx) particularly when it comes to returning profits to shareholders, JT suddenly has money to buy its own shares…. from the Japanese government.
Singapore Corporate Governance Council Releases Risk Governance Guidance for Listed Boards
From the web site of the Monetary Authority of Singapore: Singapore, 10 May 2012 … The Corporate Governance Council (Council) has today released its Risk Governance Guidance for Listed Boards (Guidance).
Nomura Releases Results of Individual Investors Survey: A Decreasing % Intend to Vote for All Resolutions
Nomura has released the results of its Individual Investors Survey. The results pertaining to governance matters, intentions regarding exercising voting rights at general shareholders‘ meetings, are set forth at the bottom, but the main gist is that: Of the respondents saying they planned to exercise their voting rights, 25.8% said they intended to vote in […]
“About Corporate Auditors” – Explanation by the Japan Corporate Auditors (Statutory Auditors) Association
1. Overview
Under Japan's Companies Act of 2005, which consolidated corporate law regulations in Japan, a corporate auditor (kansayaku) is a mandatory organ of a joint-stock company with two exceptional situations. Specifically, a small-scale closely-held company is not required to have kansayaku, and a committee company is required to have three committees (the audit committee, the nominating committee and the compensation committee) but not kansayaku.
“Continuing Efforts to Improve Corporate Governance in Japan” – by JCAA and JICPA (Stat. Auditor, CPAs Groups)
March 29, 2012- Announcment by The Japan Corporate Auditors Association (JCAA), The Japanese Institute of Certified Public Accountants (JICPA) —->
金融庁設置法 – 「第二節 金融庁の任務及び所掌事務等」
（任務）
第三条 金融庁は、我が国の金融の機能の安定を確保し、預金者、保険契約者、有価証券の投資者その他これらに準ずる者の保護を図るとともに、金融の円滑を図ることを任務とする。
BDTI Update: Recent Seminars and Programs, and Those in Process
English readers (and sponsors)may be interested to know about recent seminars provided by BDTI, and those that are in the works. (Note:below, we have listed BDTI’s group programs. BDTI also offers low-costE-Learning, consisting of 4 hours on the Company Law and 5 hours on corporate governance; and “customized” courses for single companies.)
Now Accepting Applications for Next English Language “Director Boot Camp” Training Program (June 23; sign up at bottom)
Following its successful first offering, BDTI will hold its next English-language Director Boot Camp on Saturday, June 23rd. Thisintensive programteaches attendeesthe keylegal and corporate governance knowledgethey need to responsibly serve on, report to, or analyze boards of Japanese companies, focusing most on issues that arise in public companies. (However, manysubjects are also relevant to Japanese subsidiaries of public companies, or even private companies.)
CEO Succession: Models for the Asia Pacific Board (Spencer Stuart)
To better understand succession planning in an Asian context, Spencer Stuart brought together board directors, CEOs and other senior executives in Singapore for a panel discussion featuring Hsieh Tsun-yan, an independent director of Sony Corporation, Bharti Airtel and Manulife Financial; and Koh Boon Hwee, chairman of Yeo Hiap Seng and a board director of Agilent Technologies.