I read news that the governement will not likely to pursue to make it a legal requirement to have an outside board member. If this is true, a big disappointment!
Recently, I decided not to put much money in the Japanese stock market, and will shift the focus to the US stock market. I am afraid that the Japanese corporate governance has not made much progress after all these years, even after Olympus and Daioh Paper scandals. I hate to say, but the Japanese CEOs do not respect the shareholders'
rights, either.
It is very disappointing indeed.
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.