In today’s briefing:
- Let Fujitec’s Case Be a Lesson to Companies and Investors in Japan
Let Fujitec’s Case Be a Lesson to Companies and Investors in Japan
- Fujitec’s board composition was above average of Japanese companies in form. This was an opportunity to see an example of a board that is formally structured but not actually functioning.
- Bringing manager’s buddy on as an “independent director” is not likely to contribute to sustainable growth in corporate value.
- If domestic institutional investors, including passive funds, vote according to the will of the company, it will lead to stagnation of the substance of corporate governance in Japanese companies.
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