Grand Total of 15 Companies Submitted English Corporate Governance Reports to TSE in Past Year

Only 15  companies have submitted English language Corporate Governance Reports to the TSE in the past 12 months…even though the CG Code asks companies with many foreign investors to consider that.  We need significantly more than 15.   Boys be [more] ambitious!  But recently I was able to convince the TSE to at least make a list of the companies that DO have English reports, so that we can single them out for praise.  You can find the list on a downloadable Excel file on this page.

Results of First Round of Submissions of “Corporate Governance Reports” to the TSE

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.