The following entry appeared as part of Governance Metrics International’s GMI Blog. GMI is the leading independent provider of global corporate governance and ESG ratings and research. Corporate stakeholders – including leading investors, insurers, auditors, regulators and others – use GovernanceMetrics services to identify and monitor risks related to non-financial measures covering key environmental, social, governance and accounting risk factors.
Month: June 2013
The LDP’s “Headquarters for the Economic Revitalization of Japan” Makes Proposals for Corporate Governance Reform
In its excellent May 10th Interim Report, the LDP's Headquarters for the Economic Revitalization of Japan 1) promised to make the introduction of one independent outside director a certainty within the year; 2) proposed rules to require public companies do disclose their policy and actions (numbers trained) with respect to training of newboard members,and continuing trainng; and 3) promised toconsidermeasures to abate cross-shareholdingsby banks, including the prohibition thereof.
Mizuho Financial Group: Shareholder Proposal re Disclosure of Director Training Policy for the Second Year in a Row
Mizuho FinancialGroup'sproxy materials this year contain the same shareholder proposal as last year, askingfor achange the Articles to require the company todisclose itscompany policy and actions regarding board training. Last year this proposal was approved by 29% of voting shareholders,which seems to have been the4th or 5thhighest support ratio among all shareholder proposals in Japan that year. Management opposes the proposal.
METI Study Groups on Corporate Accounting, Disclosure/CSR Policy, and Corporate Governance
METI has establshed study groups on (1) Corporate Accounting, (2)Disclosure and CSR Policy and (3) Corporate Governance mainly during the last year. Many useful points of of view were exchanged, and most of the materials – and summaries of the meeting dialogues – were made public, and are available from the link below.