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Below, one can download in Japanese Deloitte's summary of compliance with the Japan's Corporate Governance Code (CG Code) as of the end of December, 2015, which for most companies was the deadline to submit their Corporate Governance Reports (CG Reports) to the TSE.
BDTI’s December 8th English Director Boot Camp was a great success, with
active participation by a diverse group of European, American、and Asian persons! Everyone in the room benefited from the perspectives and experience of this fine group.
At the very outset of its governance code, Germany established a Commission of the Corporate Governance Code, which is required by law to evaluate the Code on an annual basis and proposed any changes or amendments that are needed. On average, the Commission has amended the Code almost once a year since it was first put in place. Out of its 14 diverse members, 3 are women.
In order to provide an overview for busy in-house counseland compliance professionals, we summarize below some of the most important international anti-corruption developments in the past month with links to primary resources. October saw another SEC-only corporate FCPA settlement, an explanation from DOJ as to why theapparent decrease in volume of FCPA criminal actions does not mean anti-corruption is no longer an enforcement priority, an important ruling in an FCPA whistleblower case, and a variety of other anti -corruption developments in the U.S. and abroad.
Status of Compliance with Japan”s Corporate Governance Code: Nomination Policy
The Board Director Training Institute of Japan (BDTI)
December 01, 2015
On the link below, you can download S&P's report comparing global financial literacy in various countries. (See definition below.) S&P asked four simple questions about things like how interest works and ranked countries based on the percent of correct responses. At 41%, Japan has a relatively low score among developed nations, which ranks it just above Italy in most respects.
ICGN submitted a response to the call for comments to improve the corporate governance of listed companies in Japan. This includes comment on independent directors, accounting fraud and audit committees, procedures for class actions, translation of disclosure documents and caution around special class ‘Model AA’ shares.
http://bit.ly/1XvPBae
The largest proxy advisory firm in the world, ISS, has issued its policy for proxy voting in Japan and other Asian countries for 2016.
http://www.issgovernance.com/file/policy/2016-asia-pacific-policy-updates.pdf
Overview — In recent years, a small but growing number of companies have held annual shareholder meetings exclusively online or provided for online participation. Some of the early-adopting companies that decided to switch to an annual shareholder meeting held exclusively in cyberspace (without a physical meeting of shareholders happening simultaneously) received objections from investors and negative publicity, and this topic continues to be debated in corporate governance circles.
Stephen Bohrer, an M&A lawyer at Nishimura & Asahi, recently gave this presentation at a seminar in Palo Alto on the top five issues to consider when conducting M&A due diligence in Japan (in comparison to US transactions).
http://bit.ly/20IO3y2