Update : Apr. 22, 2013
[Tokyo Stock Exchange, Inc.]
"The 2nd TSE Independent Directors/Auditors Seminar" for independent directors and auditors (ID/As) of listed companies was held on February 5, 2013 (Tue.) at the Tokyo International Forum.
The seminar is aimed at providing insight into the significance and role of ID/As and, as well as the forthcoming reform of the Companies Act of Japan which encourage companies to appoint outside directors to the board. The seminar also aims to offer participants the opportunity to hear the experiences of other ID/As as well as the voices of institutional investors who are general shareholders, so as to help them to better perform their role as ID/A.
The two-hour seminar began with a key note speech by Professor Hideki Kanda (Professor, University of Tokyo, Graduate Schools for Law and Politics, and head of TSE's Advisory Group on Improvements to TSE Listing System). Professor Kanda made a presentation entitled " Expected role of independent directors and auditors in light of the forthcoming reform of the Companies Act" which revisited the background behind the introduction of the ID/A system and the expected role of ID/As as well as how the system will be affected by the forthcoming reform of the Companies Act.
After the keynote speech, there was a panel discussion based around the theme "What should an independent director/auditor do in this situation?" Mr. Kazuhiro Takei (Lawyer) moderated the lively discussion among four panelists - Ms. Sakie T. Fukushima (President & Representative Director, G&S Global Advisors Inc.), Mr. Sumitaka Fujita (Chairman, Japan Association for Chief Financial Officers; Former Vice Chairman, ITOCHU Corporation), Mr. Toshiaki Yamaguchi (Lawyer), and Mr. Scott Callon (Partner and Chief Executive Officer, Ichigo Asset Management, Ltd.).
The event was a huge success with more than 500 ID/As in attendance, which showed a strong interest in the ID/A system.
By holding regular seminars on the ID/A system and making timely updates in line with actual circumstances to the TSE publication "A Handbook on Practical Issues for Independent Directors/Auditors" which has been warmly welcomed by speakers and panelists alike, TSE will focus its efforts on establishing the ID/A system in daily business practices and ensuring the effectiveness of the system.
The following material contains an executive summary of the seminar
|2nd TSE Independent Directors/Auditors Seminar Executive Summary|
Tokyo Stock Exchange, Inc. Listing Department Tel: +81-3-3666-0141