Interesting Article about Kobe Court Judgment (Charle, Case re MBO Valuations)

The Kobe District court recently handed down a judgment ordering a company to disclose information relating to its MBO (excluding information which the exposure of which could potentially harm whistleblowers).

Some are calling this a very significant judgment, though we will have to see how it plays out (including any appeals).

I remember seeing one of the directors of a company that did an MBO last year explaining that they simply felt that the company could be better run as a non-public company. I continue to find it unfathomable that a director can essentially say yeah, we could run the company better if it weren't for those shareholders without out it being a slam-dunk admission of a breach of the duty of care…

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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