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Japan eyes forcing governance reforms at firms after Ghosn's arrest

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This is 2019 right? One would have thought that these controls were already in place.

Wait?!?!?

Among companies listed on the Tokyo Stock Exchange, 97.7 percent already had at least one independent board member as of July last year.

So is Nissan one of the corporations in the 2.3% that don't have one? There is a huge difference between having an independent board member and governance in place. Let alone allowing the independent member full and unfettered access to the accounts and pertinent information needed to audit the company.

6 ( +6 / -0 )

Well, you start by revisiting all the fraud conducted by Toshiba, Olympus, Kobe Steel, etc and reexamine their books to determine how much was swindled from duped customers/investors, how much in taxes was skirted, and who received un-deserved bonuses. From there, you should have a good idea who needs to be taken into custody. Maybe if you all did your due diligence from the get-go, none of this would have happened

3 ( +4 / -1 )

Scapegoat off the truth..

1 ( +2 / -1 )

Japan eyes forcing governance reforms at firms after Ghosn's arres.

Irreverent. Ghosn should be released on bail immediately.

4 ( +5 / -1 )

appoint at least one independent board member in order to ensure proper corporate governance, a government panel recommend

Id like to see this done in the government as well.

3 ( +4 / -1 )

Japan eyes forcing governance reforms at firms after Ghosn's arrest

Reforming corporate governance is good but still keeping 23 days detention.

-1 ( +1 / -2 )

This is idiotic, almost all major companies already have at least one independent director including....drumroll....Nissan! Which has 3!

The Tokyo Stock Exchange in fact already requires this, so this is as meaningless a reform proposal as you can get.

Increasing transparency around executive pay is a good idea though, so the second proposal would be a welcome change.

3 ( +3 / -0 )

LOL!!!

One independent board member?!?!

Really?? THAT is the recommendation?!?

What a sham.

Japan Inc. doesn't care about corporate governance. It would cause too many inconveniences!!!

5 ( +5 / -0 )

"One independent board member".

In other words, one amakudarised bureaucrat who can help the company get that public tender.

4 ( +4 / -0 )

But they're not going to get a reform of the judicial system, thinking there might just be something not right with holding people in custody for this long? Rediculous.

2 ( +2 / -0 )

Major companies in Japan should be compelled to appoint at least one independent board member in order to ensure proper corporate governance, a government panel recommends.

what is their board for ? It isn't governance . Sounds like one actual board member. Investors should walk

1 ( +1 / -0 )

The headline and the fact that they've set up a government panel seems to suggest that ...

1) Ghosn is already guilty of something, despite using "allegedly" further down the article and nothing established in court yet.

2) it's a deflection away from the more serious problem, the corrupt hostage-based justice system (hitojichi shiho). Kind of a subtle "Yes, Ghosn's been arrested, is most likely guilty and we're going to do something about it, but let's not talk about the indefinite detention of non-violent suspects."

3) it's a placebo for the public: "Major companies in Japan should ... panel recommends." Maybe some cosmetic change will be made but I'm sure the old boy's network will be kept intact.

2 ( +2 / -0 )

Given what's happened to Ghosn, if I were a foreigner and crazy enough to take on a senior position at a Japanese firm, I'd welcome all the governance reform I could get. I would accept any pay package/compensation for anything without at least 10 Japanese execs' hankos on whatever document was drawn up...and pictures of them stamping them for evidence.

0 ( +0 / -0 )

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