(For the Japanese version of this article)

Invitation Program – The National Association of Corporate Directors (NACD), Dr. Raber, President & CEO, – Organisation for Economic Co-operation and Development (OECD), Mr. Kirkpatrick, Senior Economist, Corporate Affairs Division, Directorate for Financial and Enterprise Affairs, OECD [July 24-28, 2006]

Invitation Program - The National Association of Corporate Directors (NACD), Dr. Raber
President & CEO

Organisation for Economic Co-operation and Development (OECD), Mr. Kirkpatrick
Senior Economist, Corporate Affairs Division, Directorate for Financial and Enterprise Affairs, OECD

Outline


IIST, as part of its activities to develop capacities of business executives, has been implementing a range of programs to educate managers on corporate social responsibility (CSR) and corporate governance in today’s globalized world. IIST, this time jointly with MIDC, held an international symposium on the roles to be played by directors of Japanese companies and provided an opportunity for Japanese managers and scholars to discourse with two guest speakers whom IIST invited, one from the National Association of Corporate Directors (NACD) and the other from Organization for Economic Cooperation and Development (OECD).

Dates: July 24 (Monday) - 28 (Friday), 2006
Organized by: Institute for International Studies and Training (IIST)
Co-organized by: Multilateral Investment Development Corporation (MIDC)
Supported by: Symposium: Ministry of Economy, Trade and Industry; OECD Tokyo Centre; Japan Corporate Auditors Association; Japan Investor Relations Association; and Business Policy Forum Japan


Invited persons


The National Association of Corporate Directors (NACD): Dr. Raber
President & CEO

Organisation for Economic Co-operation and Development (OECD): Mr. Kirkpatrick
Senior Economist, Corporate Affairs Division, Directorate for Financial and Enterprise Affairs, OECD


Overview


Symposium on July 25
IIST held an international symposium for corporate executives and academics on the theme of “Corporate Governance under Global Economy-Roles and Responsibilities of Corporate Directors.” At the opening speech, the importance, the present situation and challenges concerning corporate governance in Japan, and the wisdom of pursuing corporate governance that is most appropriate for Japanese companies were discussed. Following the opening speech, Mr. Raber made a keynote speech and explained corporate governance measures implemented in the United States and the U.S. system for the board of directors, for which at least half of the members should be chosen from outside the company. As the second keynote speaker, Mr. Kirkpatrick then discussed the features and problems of corporate governance implemented in different countries around the world, including OECD member states. Based upon the speeches, a panel discussion was subsequently held in which corporate governance issues associated with the unique Japanese corporate culture and the roles that directors and auditors should play for better corporate governance were discussed. In addition, topics such as the diversity of directors and auditors by the appointment of women and foreigners and the necessity of pursuing corporate governance that is appropriate for Japanese companies were addressed.

Workshop on July 26
On the second day of the forum, a workshop was held, building upon the results of the speeches and panel discussion during the symposium, participated in by a small number of managers from Japanese companies and academics and pursued discussion focusing on the quality of directors for corporate governance under a global economy.

Participants of the workshop shared the specific corporate governance problems that managers had faced in actual corporate management and the examples of countermeasures. In particular, they discussed the future challenges to be met by Japanese companies, focusing on the necessity of improving the monitoring and feedback functions to be mutually played by representative directors and auditors.

Dr. Raber made a speech at the Research Institute of Economy, Trade and Industry (RIETI) as well, and exchanged opinions with Japanese policy makers.

IIST held this two-day forum inviting Dr. Raber, who is a president and CEO of NACD and is versed with U.S. corporate governance and training programs for directors, as well as Mr. Kirkpatrick, who is responsible for verifying the corporate governance principles laid out by OECD. At the forum, these two invitees exchanged opinions with Japanese corporate managers and other experts about the corporate governance measures implemented in the Western countries and in Japan. The forum has greatly contributed to the enhancement of related measures in Japan and the Western countries and to the creation of an information exchange network.
In the questionnaire survey conducted after the forum, many participants answered that further measures should be taken for the enhancement of corporate governance in Japanese companies, measures involving the government, companies, and investors. This demonstrates that the interest in corporate governance has recently been raised in Japan.


PDF (101KB) Program


Reception desk at Plaza Hall (July 25)

Reception desk at Plaza Hall (July 25)

Participants at Plaza Hall (July 25)

Participants at Plaza Hall (July 25)


Participants at Plaza Hall (July 25)

Participants at Plaza Hall (July 25)

Keynote speech by Mr. Kirkpatrick (July 25)

Keynote speech by Mr. Kirkpatrick (July 25)




Human Resource Development Dept.

(For the Japanese version of this article)


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