“As the sun sets on Japan’s powerful stock market rally, investors might ask what could rekindle the lost energy,” begins a Lex column in the April 20 Finance Times. What, indeed? The Lex team reprise a rather tired “better corporate governance” theme. They report that Japan’s Diet is likely this year to amend the Companies Act to push companies to increase external directors and set up audit committees “more typical of western companies.” More usefully (see below) they note th
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