CG in Japan 2010: Issues for Long-term Investors
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