“ The Deloitte Global Center for Corporate Governance (“The Global Center”) is pleased to present the latest edition of its annual global director survey: Director 360°: Growth from all Directions. This survey, now in its third consecutive year of publication, provides a unique perspective on the concerns that boards of directors face around the world.
In a filing with the Tokyo Stock Exchange, MUFG said it tested 3.8 trillion yen ($30.6 billion) worth of shares, about 70 percent of its cross-shareholdings, against the new criteria. About 20 percent of the shareholdings tested do not meet the criteria and the bank will consider selling them unless their returns improve, it said.
The bank did not disclose the specifics of the criteria, but said both direct and indirect returns of the holdings are taken into consideration in determining whether they are met or not. MUFG did not specify by when the returns need to improve before it takes a decision to sell the shares.