The Japaneese government hasnot translated major portions of its Revised Growth Strategy intoEnglish yet, so The Board Director Training Institute of Japan (BDTI)recently translated the partsthat relateto reform of corporate governance. As you will note, among other things Japan has committed to produce:
A corporate governance code that is reflected in the TSE’s listing rules, based on the principle of “comply-or-explain”;
which is consistent with the OECD Principles of Corporate Governance, and is of a quality that is “internationally well-regarded”;
in time for next year’s AGM season.
One of the things that is most encouraging, is that the government has made it a very explicit part of national policy (the first “pillar” in the growth strategy) that corporate governance affects corporate productivity and profitability, and therefore governance needs to be improvedfor that reason.
The translation can be downloaded here: