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”The Council of Experts Concerning the Japanese Version of the Stewardship Code (Chairman: Professor Hiroyuki Kansaku, The University of Tokyo) published the Principles for Institutional Investors (Japan’s Stewardship Code) in February 27, 2014. The Council requested the FSA to publish and periodically update the list of institutional investors who announced their acceptance of the Code.
”The Financial Services Agency (FSA) has been conducting the supervision and inspection regarding cyber security management as a part of system risk control, etc. The threat of cyber attacks is a significant risk for the stability of the financial system. It is necessary to enhance the resilience of the financial system by strengthening the cyber security of not only each financial institution but the financial industry as a whole………..”
Representatives from the securities industry and the capital markets in the US and Japan discussed the progress and issues that lie ahead.
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”Sakie Fukushima remembers the novelty of being the only woman on Korn/Ferry International’s board of directors, which she joined in 1995. Ditto when she joined the Sony Corp., Kao Corp. and Benesse Corp. boards years later.
”The end of the financial year reveals the true depths of the self-inflicted wounds at Toshiba, as it seeks to drag itself out of the quagmire created by one of several major accounting scandals to have hit the country’s corporate sector in recent years.
The global consumer electronics firm said it was forecasting full-year losses of $6 billion, and would have to cut more than 10,000 jobs.
Like other Japanese companies currently embroiled in scandals — the optical equipment maker Olympus, the air bag-maker Takata and the construction materials firm Asahi Kasei — Toshiba is also counting the cost of the damage to its reputation, both at home and abroad.
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‘I have just completed the first phase of research into how diverse the European subsidiary boards of the biggest Japanese companies in Europe are, both in terms of the nationality mix of Japanese and European directors, and also the number of women on the board.
”This paper examines the effect of foreign ownership on gender-related employment outcomes and work practices in Japan. The data indicate that the proportion of females among workers, managers, directors, and board members is higher, and the gender wage gap is smaller, in foreign affiliates than in domestic firms of comparable size operating in the same industry. Foreign affiliates are also more likely to offer flexible working arrangements, telecommuting, and child care subsidies. These effects are mostly visible in older affiliates and are more pronounced in affiliates with a larger foreign ownership share. These patterns are in line with the view that it takes time to transplant corporate culture to an overseas affiliate and that a higher ownership stake may facilitate this process……”
In its tenth year, Ethisphere’s annually released ranking of the world’s most ethical companies seeks to acknowledge best practices and point a way forward for businesses looking to be better. (image credit: Pixabay.com)