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'
It is very disappointing indeed.