From September 6-9, 2010, ACGA led our second investor delegation to Japan. The presentation below complements a previous presentation given during ACGA's first investor delegation in March 2009.

The issues raised included:

1. Recap of ACGA "White Paper on Corporate Governance in Japan" (May 2008) 

2. Recap of ACGA "Statement on Corporate Governance Reform in Japan" (December 2009)

3. New or emerging issues

• TSE rule on independent directors
• FSA rule on disclosure of voting results
• METI proposals for amending the corporate law
• Obstacles to AGM participation
• Clustering of shareholder meetings
• Fiduciary responsibilities of investors