This month METRICAL shows how the disclosure about ex-CEO advisors has progressed from a year ago. As shown the table below, in October 2018, 829 companies on METRICAL’s research universe disclosed the number of ex-CEOs (ex- Representative Directors) who retained positions as “advisor” in the company after stepping down as CEO. Of these companies that voluntarily disclosed, 474 companies had ex-CEO advisors. A year later in October 2019, a total of 894 companies disclosed the number of ex-CEOs who retained such advisory positions seat in the company after stepping down from the top management position. Of these 894 companies, 503 companies had ex-CEO advisors in October 2019.
Month: December 2019
Keidanren:“Cyber Risk Handbook(Japanese)”
Keidanren published a “Cyber Risk Handbook(Japanese)” in October 31st.
Download a handbook from here : Cyber Risk Handbook(Japanese)
Keidanren HP: http://www.keidanren.or.jp/policy/cybersecurity/CyberRiskHandbook.html
“Japan’s Unfinished Corporate Governance Reforms”, by Nicholas Benes
My article on Japan’s unfinished reforms is online now. Lest the Abe administration and regulators “declare victory” when they are only half done, I describe seven specific measures that Japan needs to adopt in order to bring its market up to a global standard for a developed nation:
- Detailed rules for an independent committee
- A clear requirement for a majority of independent directors on the board
- Codifying the role and responsibilities of executive officers
- Consolidation of overlapping disclosure reports
- Protection of minority shareholder rights
- Enhancing transparency to reduce entrenchment and enhance inclusiveness
- Strengthening stewardship throughout the investment chain
I stress the reality that in all of these, strong political leadership from the Prime Minister and other senior parliamentarians will be needed. “Thus, is it essential that the Tokyo Stock Exchange (JPX/TSE) and the various regulatory agencies keep up reform momentum. However, one senses a desire from these groups to ‘declare victory’, and they have a tendency to not fully coordinate with each other. If Prime Minister Abe’s cabinet did more to make the key players coordinate their efforts in key areas, meaningful governance change (and protection of investors) would accelerate….
Japan Times “Compelling Need for Adoption of ESG Goals”
“Intensifying pressure to limit global temperature increases and prevent ecological disaster is mounting and corporations and investors — including those in Japan — have an urgent role to play.
That was a key message at the CDP Forum on Decarbonizing Management — Vision to Action held in Tokyo on Nov. 19.