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The Nikkei reported that the TSE will soon invite independent directors to a seminar. …TSE is taking this unusual step because it believes that some firms still lack a full understanding of how independent directors and auditors should exercisse their oversight of management on shareholders' behalf.
The seminar will be open to about 1,500 people, and will feature speeches by officials who were involved in the introduction of the TSE requirement.
Ihave a question I wonder if someone could answer. It seems to me that if Japan is to develop a predictible base of law to govern the ticklish issues that arise on boards in cases such as TOBs and MBOs,that basewill have toevolve via case law.
BDTI is now conducting a survey to compare attitudes of the Japanese populace towards corporate governance (in Japan) with the opinions of foreign persons from different countries.Respondents canreceive a summary of the final survey results byemailing htaniguchi@bdti.or.jp .
Robeco has published its Q2 2010 Responsible Investing Report, which we have uploaded to the Data Libary as it may be of interest. It can be accessed directly at: http://bdti.mastertree.jp/f/jxrimqp0
The Asian Corporate Governance Association has published a summary of the laws and rules in Asian countries regarding requirements for independent directors and their role.This highly useful summary isavailable for registered BDTI users to see and download in the Data Libraryat:
According to a Nikkei Newspaper report as of June 24, 2010, METI has issued a number of proposals to the Legal Affairs Advisory Council, which reports to the Minister of Justice, with regard to amendment of the Company Law. According to the Nikkei, these proposals include: