（Quote from Andrew MacDougall, Partner at Osler, Hoskin & Harcourt LLP） "Securities administrators in all Canadian jurisdictions other than Alberta and British Columbia have approved the final rule. The new rule is largely unchanged from the proposals issued earlier this year.
BDTI's October 10th English "Director Boot Camp" was a great success, including much input from the experienced directors at the table, and several Japanese participants. We are planning to hold the next course early in December. Sign up early!
A description of the course, and a sign-up page, can be found here:
The Asian Corporate Governance Association and CLSA have released their well-known review of corporate governance in Asia, "CG Watch 2014". This year the reportupgraded Japan to 3rd place in Asia (from a tie for 4th). Hong Kong edged out Singapore for the top ranking. The chapter on Japan can be downloaded here:
(UK FRC --> ) "The Financial Reporting Council (FRC) has issued today an updated version of the UK Corporate Governance Code (the Code). This significantly enhances the quality of information investors receive about the long-term health and strategy of listed companies, and raises the bar for risk management.
Japan’s tarnished image for corporate governance is undergoing a polish. From its declaration as a key “third arrow” reform for Abenomics, new company law reforms, the launch of a stewardship code for investors, and promised corporate governance code in 2015, the nation’s businesses have been put on notice to improve performance or face the consequences.
Article - "Investors come first in the new corporate governance code", by Stephen Haddrill,chief executive of the Financial Reporting Council.
How would you respond to this question?
Bruce Aronson at Hitotsubashi-wrote a paper (see below) in 2011 which provided some of the answers to this question, including the fact that bank loan interest rates are very cheap in Japan.
There has been a lot of talk about "stewardship" in Japan over the past year. And there have been fine statements and announcements made about stewardship commitments by many institutions. This is all good, even if it is not clear how all this will play out.
But actions speak much louder than words, - so we at BDTI think it fitting to point out that the following institutions have supported The Board Director Training Institute of Japan (BDTI) by making significant donations, in many cases more than once:
Nikkei Newspaper, “Economics Classroom” Column (8/8/2014)
( The Corporate Governance Reform Debate – Key Themes )
Independent Directors Should Make Up at Least One-Third of the Board -- Promulgate a “Code” that Meets Global Standards
(Bruce Aronson is Professor of Law at the Graduate School of International Corporate Strategy, Hitotsubashi University, and serves as an Advisor at
Nagashima Ohno & Tsunematsu. This article was previously published in JASBA's magazine, Gekkan Kansayaku. )