Japanese companies are rapidly shifting business structures to better monitor their operations by employing US-style Corporate Governance systems designed to post outside board members on audit, executive pay and board member nomination committees. Or so says Yen custodian Mizuho.
The Japanese bank points out that the growing interest in corporate governance in Japan is in line with Commercial Code amendments, but is at present confined mainly to large global businesses in electronics, general machinery and retailing, though some mid-size companies are following suit. The 36 companies identified by Mizuho as having installed a new governance system are: