Perspectives

The Second Survey Report on Corporate Attitudes toward Corporate Governance Code

What attitudes do companies have toward the time frame of disclosure in the first year of application?

Deloitte Touche Tohmatsu (Japan Group) has organized [Urgent Seminar II] “Explanation about Proposed Amendment to the Listing Rules by the Tokyo Stock Exchange Related to Corporate Governance Code and Seminar to Support Promotion of Governance through the Code” in various areas, and has summarized the outcomes of the questionnaire surveys conducted among the participants.

Outline of the Questionnaire Survey

Following the first seminar launched in a series of areas from January through February to show how to respond to a corporate governance code, the Deloitte Tohmatsu Group carried out the second seminar titled “Explanation about Proposed Amendment to the Listing Rules by the Tokyo Stock Exchange Related to Corporate Governance Code and Seminar to Support Promotion of Governance through the Code” nationwide in March and April. Like the first seminar, a questionnaire survey was conducted, asking the participants about progress in dealing with a corporate governance code. 

This second report shows the outcomes of the questionnaire survey conducted after clarifying the disclosure rules and the procedure to prepare corporate governance reports. Compared with the previous report on corporate attitudes, the companies seem to have proceeded with their efforts. The disclosure timing in the first year of application shall be “as soon as possible after getting ready for disclosure following the ordinary general meeting of shareholders, by six months after the meeting at the latest.” Although a half-year transitional period is given, you might be curious about when other listed companies would make disclosure actually. 

Here unveiled are valid responses received from 663 persons through the survey conducted after the second seminar held in Tokyo, Sapporo, Sendai, Shizuoka, Nagoya, Hiroshima and Fukuoka from March through April.

Questions are set by us over 13 keywords selected to unveil the current process on which each company is working and personal opinions of the attendees about policies on which to take action and so on. Please make good use of the outcomes as your benchmark.   

Survey Report on Response to Corporate Governance Code Based on the Second Series Held in March & April and Data Collected Individually

Here unveiled are valid responses received from 663 persons through the survey conducted after the second seminar held in Tokyo, Sapporo, Sendai, Shizuoka, Nagoya,Hiroshima and Fukuoka from March through April.

<Questions>

How the Company Responds to the Code [Page 9]
Disclosure Timing in the First Year of Application (How many months after the general meeting of shareholders is the disclosure scheduled?) [Page 10]
On-going Processes of 13 Items [Page 11]
Personal Opinions about 13 Items at the Time of Applying the Code (Comply or Explain) [Page 12]
Matters of Which Difficulties Are Projected [Page 13]
Matters for Which Support Is Expected from Outside Experts [Page 14]

Click here to view the report in Japanese

 

For the outcomes of the First Survey Report on Corporate Attitudes, please click here.
http://www2.deloitte.com/jp/ja/pages/strategy/articles/cg/governance-code-questionere.html

 

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