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On January 20 in Davos, Switzerland, US-based consulting firm PricewaterhouseCoopers released the findings of its 18th annual global CEO survey, A marketplace without boundaries? Responding to disruption, which surveyed 1,322 CEOs in 77 countries. In the survey, the percentage of CEOs who expressed concern over cyber threats showed a considerable increase, from 48 percent in 2014 to 61 percent in 2015.
“ A number of developments and ongoing trends can be drawn from the GER 2014:
Non-U.S. enforcement actions have more than doubled since 2012, and in 2014 non-U.S. enforcement actions concerning bribery of foreign officials outnumbered U.S. enforcement actions. (See Figure 3.)
Japan’s first corporate-governance code come into effect Monday, less than a year after it was first proposed as part of the Abe administration’s 2014 growth strategy. Most of the first “comply or explain” statements will be filed by December.
Read the full paper:
http://bdti.mastertree.jp/f/4go1pweh
Read the Case Study on Soft Activist:
http://bit.ly/1AIBY1Q
“Corruption, the abuse of entrusted power for private gain, is the single greatest obstacle to economic and social development around the world. It distorts markets, stifles economic growth, debases democracy and undermines the rule of law.
Thanks to the leadership in the LDP, we wereso successful in suggesting a large number of new practices to the FSA that were in fact included in the Japan's Corporate Governance Code, that I got worried that more explanation is needed.
The UK Financial Reporting Council’s report on Developments in Corporate Governance and Stewardship contains many insights useful to Japan as it implements its new Corporate Governance Code and the Stewardship Code. In particular, pages 17-22 on stewardship and engagement, and the quality of stewardship statements, provide food for thought in the sense that progress for the Stewardship Code seems spotty and slow.
Excerpt: … Meno’s comments echo those of Nicholas Benes, head of the Tokyo-based Board Director Training Institute of Japan (BDTI), who has called for increased director training in corporate governance to ensure a “virtuous cycle” that accelerates reform.
(Note: The numbers below correspondto page numbers in the Powerpoint presentation, which can be downloadedbelow.)
George Olcott, a guest professor at the Faculty of Commerce at Keio University and an outside directorat Hitachi Chemical and Denso Corporation, gave a speech on this topic at the recent Columbia Business School CJEB conference on corporate governance in Japan.