In this article published by Ethical Boardroom this Autumn, Yoshi Maeda reflects on how investor stewardship and corporate governance are evolving in Japan.

2018 marked the fifth anniversary of Japan’s initiatives on investor stewardship and corporate governance reforms as the first council meeting for Japan Stewardship Code was held in August 2013. Over the past 5 years, the Japanese government implemented a series of measures and investors and Japanese corporations responded to them. More than 230 institutional investors have signed up to the Stewardship Code while approximately 90% of companies listed on Tokyo Stock Exchange reported that they complied with more than 90% of the Corporate Governance Code’s principles. The stage has been set for Japan Inc. to change.

The article initially sets out the financial outcome of investor stewardship and corporate governance initiatives during the past five years. Then we illustrate how the landscape of investor stewardship and corporate governance evolved in 2018, highlighting the initiative by the government and those by investors and corporations. We lastly present our perspective into the future.

The full article can be accessed here Ethical Boardroom Autumn 2018