From Skadden's recent Client Alert – see link below – On October 22, the National Institute of Standards and Technology (NIST) issued its PreliminaryCybersecurity Framework (the Preliminary Framework).1 The Preliminary Framework representsthe first full draft of the Cybersecurity Framework (the Framework) that President Obama orderedNIST to develop in his February 12, 2013, executive order addressing the regulation of criticalinfrastructure network security.2
Month: October 2013
Nikkei: “Mizuho Bank To Punish 54 Current, Ex-Execs For Gangster Loans”
Saturday, October 26, 2013 TOKYO (Nikkei)– Mizuho Bank plans to reprimand 54 current and former senior executives for failing to take responsibility for loans to borrowers associated with organized crime, The Nikkei learned Friday.
Nikkei: “Mizuho Bank To Punish 54 Current, Ex-Execs For Gangster Loans”
Saturday, October 26, 2013 TOKYO (Nikkei)– Mizuho Bank plans to reprimand 54 current and former senior executives for failing to take responsibility for loans to borrowers associated with organized crime, The Nikkei learned Friday.
Seminars Recently Offered by BDTI – a Long List!
(Most recently updated on April 25,2014). During the past two and a half years, thanks to supportive donations we have received, BDTI has been very active. Not counting our regular intensive Japanese director training program, we have offeredthe followingseminarsand lectures.
Nomura’s report ‘In Japan’s growth strategies, M&As pose challenges beyond industry and size’
Nomura Securities published a report on the Japanese In-Out M&A trend, forcasting increase of it beyond industy and corporate size as one of core growth strategies. PMI (Post Merger Integration) becomes more and more important.
METI – “Calling for Evidence and Information Concerning …”Competitiveness and Incentives for Sustainable Growth”
See below forMETI's call for evidence and information – With the secretariat operated by the Ministry of Economy, Trade and Industry (METI), the “Competitiveness and Incentives for Sustainable Growth: Building Favorable Relationships between Companies and Investors” project (chaired by Dr.
METI’s “Working Group on Corporate Governance Dialogue”, and Other Study Groups
METI has got several councils or study groups working on themes related to corporate governance, acounting, disclosure, shareholder engagement,and CSR Policy. Most of them are summarized (with materials) here:
http://www.meti.go.jp/english/policy/economy/corporate_accounting/
andhere:
http://www.meti.go.jp/english/policy/economy/corporate_accounting/corporate_governance_02.html
http://www.meti.go.jp/english/policy/economy/corporate_accounting/pdf/121211_03.pdf
“Mizuho admits four execs knew of yakuza loans” – Japan Times
Mizuho Bank has admitted that at least four of its executives, including two former deputy presidents, knew that it was lending money to underworld and other “antisocial” groups and that it neither stopped nor sought to hold management responsible.
Among the four, an unnamed former deputy president was aware of the illicit practice as far back as December 2010….
http://www.japantimes.co.jp/news/2013/10/05/business/mob-linked-loans-dating-to-2010-only-learned-of-recently-at-top-mizuho-exec/#.UmUUPiuCi71
Top 20 FCPA Settlements: Marubeni Makes the List
Marubeni and other Japanese companies are included in lists like this of the largest settlements, or the largest investigations underway:
https://twitter.com/tom_mcleod/status/387348013544251392/photo/1
Masamoto Yashiro: “In truth, why Japanese management is not global? What should we do?” (brain storming at The Univ. of Tokyo)
Excerpts from a summary of pointson Gerhard Fasol's blog, based on an evening of brainstorming by Mr. Yashiro at the University of Tokyo –
2. The Japanese-style board structure is not appropriate to ensure sound corporate governance.
In Japan, Board Members are almost always managing employees of the company, so the question arises who’s interests they represent on the Board. Do they represent the interests of the institution (the company), the employees or the interests of the shareholders.