7/13 “Director Boot Camp” Held by Zoom! Next Courses: 2021.09.07 & 11.18!

On July 13th, still in the midst of the pandemic, BDTI held its English Director Boot Camp via teleconference. The day-long intensive course was attended by 10 highly-experienced and highly interactive participants. The participants heard lectures about corporate governance by Nicholas Benes along with a guest lecture by Andrew Silberman of AMT, and exchanged experiences and opinions. Even during a pandemic, training continued smoothly, with all participants chiming in with insightful comments and questions.

We are planning to hold the next course on September 7th(Tue) & November 18th (Thur) 2021. Sign up early! Please see a description of our director training course here or click the button below for further information.

BDTI Welcomes Eiji Hirano, Former Chair of the GPIF’s Board of Governors, as a New Director to its Board

The Board Director Training Institute of Japan (BDTI) is pleased to welcome Eiji Hirano to its board of directors, effective as of July 1st, 2021.

Until April of this year, Mr. Hirano served as the first Chairperson of the Board of Governors of the Government Pension Investment Fund of Japan (GPIF), which is the world’s largest national pension fund with approximately USD1.62 Trln (178 Trln Yen) under management. During his time as Chair, Mr. Hirano stressed the importance of corporate governance as one of the essential pillars of ESG at both portfolio companies and the GPIF itself. He led the GPIF’s board in overseeing management of its massive portfolio during a time of accelerating change, a global pandemic, and growing world-wide recognition of the need for greater corporate sustainability.

Mr. Hirano’s career has spanned economics, international financial markets, investment, public policy and corporate governance, and he has a Master’s degree in Economics from Harvard University. In addition to his recent experience at the GPIF, Mr. Hirano brings to BDTI a wealth of perspectives gained from his distinguished career at the Bank of Japan, where he stepped down as an Assistant Governor at 2006, and other positions in the private sector. Currently, he serves as the non-executive Vice-Chair of MetLife Japan, and as an outside director at NTT Data and Riken. He is also an auditor at the Keizai Doyukai and a member of Japan UNESCO‘s domestic committee.

Commenting on Mr. Hirano’ appointment, BDTI Representative Director Nicholas Benes said, “we are honored and excited that Mr. Hirano has joined our mission to improve the effectiveness of boards by providing practical, high-standard directorship training programs.” Echoing his sentiment, fellow Representative Director Kenichi Osugi (Professor of Law at Chuo University) said, “Mr. Hirano’s broad range of experience will help us better prepare board members for what faces them in the future.”

Mr. Hirano said, “the success of sustainable investment depends largely on the quality of boards and corporate governance, and the best way to meaningfully improve those things is through new knowledge, sharing of “best practices”, and discussion, — all the things the director training entails. Therefore, director and governance training are essential for society. We need to tirelessly convey this reality to those asset managers that are adopting ESG and impact investing techniques, but may be uncertain as to how they can make a more direct contribution to overall sustainability. I am hoping to encourage more domestic institutions to support BDTI’s activities.”

METRICAL:CG Stock Performance (Japan): May 2021

May stock market continued directionless trading after an upturn at the beginning of the month. CG Top 20 stocks outperformed against both the Topix and JPX400 indices.

Stock prices opened higher at the beginning of the month on the back of lower US interest rates led by lower-than-expected US employment data, but subsequently kept directionless trading. Topix and JPX400 indices gained 1.42% and 1.78%, respectively, during the month of May. The CG Top 20 stocks outperformed for the second consecutive month with a 2.17% gain.

Metrical: CG Stock Performance: April 2021

Stock markets ended the month of April in a downtrend, mainly due to concerns about the spread of a COVID-19 infection. The performance of the CG Top 20 stocks over the month outperformed the Topix and JPX400, limiting the decline. In April, the stock market closed lower as traders took stock of their positions before […]

Golden Week 2021: Holiday Closing Notice

We will be closed from May 1st to May 9th due to the consecutive national holidays as the Golden Week Holidays.

Business will resume on Monday, May 10, 2021.

We apologize for the inconvenience and thank you for your kind understanding.
Please feel free to leave us a message at the e-mail address below, and we will get back to you shortly.

4/7 “Director Boot Camp” Held by Zoom! Next Course: 2021.07.13!

On April 7th, still in the midst of the pandemic, BDTI held its English Director Boot Camp via teleconference. The day-long intensive course was attended by 10 highly-experienced and highly interactive 4/7participants. The participants heard lectures about corporate governance by Nicholas Benes along with a guest lecture by Andrew Silberman of AMT, and exchanged experiences and opinions. Even during a pandemic, training continued smoothly, with all participants chiming in with insightful comments and questions.

Why Does a Farmer Fertilize, and Rotate his Crops? ~ Why is Director Training is So Essential for ESG, – But Especially in Japan?

Farmers fertilize their plots of land and sequentially rotate the crops they plant on them. They do this to improve soil health, optimize nutrients in the soil, and combat pest and weed pressures. Investors should take a cue, to improve the quality of the “land” from which they grow profits, – in other words, the […]

METRICAL:CG Stock Performance: February 2021

February stocks edged lower with a sharp decline. CG Top 20 stocks underperformed Topix and JPX400 during the month.

In February, the stock market immediately made up for the plunge at the end of the previous month, with the Nikkei 225 index getting off to a strong start, reaching the 30,000-yen level for the first time in 30 years. However, the stocks edged lower with a sharp decline on the last day of the month, due to a plunge in U.S. stocks, especially technology stocks, on concerns about rising U.S. Treasury yields.
CG Top 20 CG rose 1.61% during the month, while Topix and JPX400 indices gained 3.17% and 2.91%, respectively. Cumulative performance of CG Top 20 Stocks continued to outperform significantly as shown in the chart below.

2/9 “Director Boot Camp” Held by Zoom! Next Course: 2021.04.07!

On February 9th, still in the midst of the pandemic, BDTI held its English Director Boot Camp via teleconference. The day-long intensive course was attended by 10 highly-experienced and highly interactive participants. The participants heard lectures about corporate governance by Nicholas Benes along with a guest lecture by Andrew Silberman of AMT, and exchanged experiences and opinions. Even during a pandemic, training continued smoothly, with all participants chiming in with insightful comments and questions.

We are planning to hold the next course via teleconference on Wednesday, April 7th, 2021. Sign up early! Please see a description of our director training course here or click the button below for further information.

METRICAL:Post-COVID-19 Focuses on Family Companies

The environment surrounding our business is changing significantly in line with changes in social life due to the spread of the new corona virus infection. The biggest challenge for management is to adapt to these changes in the environment with a post-corona scenario in mind. We believe that one of the keys to adapting to these changes in a timely and flexible manner is management leadership. We expect to see a lot of interest in the relatively fast-moving family-owned companies. In the past, METRICAL research has shown that companies owned by founder’s families with 20% or more of their companies performing significantly better than average. We would like to focus again on the latest data. The following two charts show the distribution of ROE (actual for past 3-5 years) and Tobin’s Q between family-owned companies (those with 20% or more ownership) and the universe of 1,743 firms, with both ROE and Tobin’s Q being higher for family companies than for the universe of 1,743 companies’ distribution. It remains to be seen whether the family companies will be able to adapt to these changes at a rapid pace and achieve higher profitability, which will be reflected in their stock performance.