By Tom Redmond, Anna Kitanaka and Takashi Hirokawa Feb. 28 (Bloomberg) — Prime Minister Shinzo Abe’s ruling Liberal Democratic Party is planning a governance code for Japanese companies to boost their competitiveness and enhance investor protection, an official said.
Month: February 2014
FT: “Auditors Blow Whistle on Inadequate Procedures for Reporting Crises” (hot lines)
A survey by the Chartered Institute of Internal Auditors, whose members advise boards on the effectiveness of controls to manage risks, found that only 69 per cent said their organisation’s whistleblowing arrangements were effective.More than nine out of 10 had whistleblowing arrangements in place. But in more than half of organisations, people responsible for handling calls from whistleblowers received no training in how to do so. Nearly half of respondents said their organisation provided no feedback or progress updates to whistleblowers.
“Ex-Denso Exec to be Jailed in U.S. Over Obstructing Cartel Probe”
Kyodo -Feb 21, 2014 WASHINGTON – A former executive of Japanese auto parts maker Denso Corp. will be jailed in the United States after pleading guilty to obstructing a 2010 investigation of a price-fixing allegation, the U.S. Justice Department said Thursday.
The move was part of the department’s probe of price fixing in the auto parts industry in which it cracked down on 29 people, including the former Denso executive, and 26 companies including Japanese ones.
“Ex-Denso Exec to be Jailed in U.S. Over Obstructing Cartel Probe
Kyodo -Feb 21, 2014 WASHINGTON – A former executive of Japanese auto parts maker Denso Corp. will be jailed in the United States after pleading guilty to obstructing a 2010 investigation of a price-fixing allegation, the U.S. Justice Department said Thursday.
The move was part of the department’s probe of price fixing in the auto parts industry in which it cracked down on 29 people, including the former Denso executive, and 26 companies including Japanese ones.
A Recent “Director Boot Camp” – Active Participants! Next Course: October 10th
Including Larry Bates and Jim Weisser in this group, this means no less than four prior ACCJ Presidents and six former or existing board members, as well as numerous experienced CEOs,have taken the course. As usual, this group was so smart and had so many good questions, ourinstructor had his hands full… A description of […]
Bridgestone Pleads Guilty to Price-Fixing – One of Many Caught in the Same Probe
(From the BBC News web site) — Tyre maker Bridgestone has pleaded guilty to price-fixing and agreed to pay a $425m (£255m) fine to the US Department of Justice (DOJ).
According to the charges, Bridgestone participated in raising the prices of anti-vibration rubber parts sold to car manufacturers.
Standard Life Investment and Tomorrow’s Company: Practical Recommendations for More Effective Investor Stewardship
”Stewardship is a term that is nowadays part of daily parlance in investment and business circles. Stewardship is recognised as important by governments and regulators. Stewardship is no longer an optional extra and has to be taken seriously.
Glass Lewis – 2014 Proxy Voting Guidelines for Japan
The major proxy advisory firm Glass Lewis has announced and published its proxy voting guidelines for the Japanese market. On the topic of independent directors, Glass Lewis writes:
GCGF-IFC- “Behind Directors Certification Programs: Key Points To Consider”
「One of the best ways to demonstrate commitment to career growth is by obtaining industry recognized certification. This is true for finance, accounting, insurance, and legal professionals, but is it also applicable to board directors? Certification programs trigger debates among corporate governance experts: some are strongly against it, saying nothing can replace real boardroom experience, while others see it as a valid method for improving the knowledge and skills of directors.