Bloomberg (May 31)
“Recent scandals at Takata (deadly airbags) and Toshiba (dodgy accounting), and Sharp’s ongoing angling for a government rescue when it should be shedding unprofitable businesses, are a reminder of how far Japan still needs to go.” Despite recent governance reforms, “Japan remains 30 years behind its peers in how its companies are run. Corporate Japan still indulges in cross-shareholdings and permits itself male-dominated boards, and the country’s timid media does little to hold it to account.” Still, progress is being made. “Some companies are starting to display the behavior Abe wants, and for which” overseas fund managers have “been agitating.”
Tags: Abe, Accounting, Airbags, ata, Boards, Cross-shareholdings, Fund managers, Governance, Japan, Media, Reforms, Sharp, Toshiba, Unprofitable
