On February 13, 2009, ACGA gave a presentation on independent directors to a new Corporate Governance Study Group formed in December 2008 by Japan's Ministry of Economy, Trade and Industry (METI). The primary task facing the Study Group is to decide whether Japan's company law should be amended to require listed companies to have independent outside directors and, if so, what form this should take. Our presentation was titled, "The Role and Value of Independent Directors".