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After the Crisis: Corporate Governance in Japan

Click here for the PDF of the transcribed conference proceedings.

Click here to view photos from the event. 


Speaker presentations may be viewed below.

Friday, August 7, 2009
10:30 am – 6:30 pm

The Japan Society of Northern California’s third international conference on corporate governance was held successfully in San Francisco on August 7, drawing 81 participants from Japan, the United States and Great Britain to the Hotel Nikko for a day of panels, case studies and a luncheon keynote address by Ms. Anne Sheehan, Director for Corporate Governance at CalSTRS, the second largest public pension fund in the United States.

The morning session at the Hotel Nikko in downtown San Francisco addressed recent developments in regulatory reform affecting corporate governance in Japan, and areas for further innovation in change. Both ongoing weaknesses and lesser-discussed strengths of Japanese corporate governance regulations and practices were addressed in the far-ranging panel.

Mr. Masaaki Tanaka, CEO of conference lead underwriter Union Bank, shared hands-on observations about his experiences with boards in the United States, before Ms. Sheehan’s keynote talk on the expectations and policies of CalSTRS and other large public pension funds when investing in Japanese corporations.

Afternoon panels presented investor perspectives on the governance of Japanese corporations, and a detailed case study presentation on corporate governance practices at Shiseido, widely considered one of Japan’s most innovative and progressive companies in the corporate governance sphere.

An interactive closing session tapped input from the many experts in the audience, before the conference adjourned to a networking reception hosted by conference underwriter Mizuho Securities USA.

The conference was the third in the Japan Society’s triennial corporate governance series. In addition to this ongoing conference series, the Society’s Corporate Governance Steering Committee continues to organize luncheon talks on corporate governance throughout the year in cooperation with the Federal Reserve Bank of San Francisco and other host firms as part of the Society’s Japan Financial Forum series.

PDF files of conference presentations and the list of conference speakers may be found below.

Luncheon Keynote Address:
Anne Sheehan, Director of Corporate Governance, California State Teachers’ Retirement System (CalSTRS)

Nicholas E. Benes, Chair, Foreign Direct Investment Committee, American Chamber of Commerce in Japan
Click to view presentation.

Scott Callon, Chief Executive Officer, Ichigo Asset Management

Stephen Codrington, Chief Executive Officer, Codrington Corporate Governance Japan
Click to view presentation.

Jun Frank, Director of Asian Proxy Research, Glass Lewis & Company

Abe Friedman, Director of Corporate Governance and Proxy Voting, Barclays Global Investors

David Makman, Counsel, Howrey LLP

Priya Mathur, Board Member, California Public Employee Retirement System (CalPERS)

Hiroshi Matsui, Executive Director, Mizuho Securities USA, Inc.

Nami Matsuko, Executive Director, Investment Banking Business Development, Nomura Securities Co., Ltd.; Member, METI Corporate Value Study Group

Sarah I. McLellan, Vice President, Morgan Stanley Investment Banking Division, Banking Strats

Toshiaki Oguchi, Representative Director, Governance for Owners Japan KK; Member, METI Corporate Governance Study Group
Click to view presentation.

Kenichi Osugi, Chuo Law School; Member, METI Corporate Value Study Group
Click to view presentation.

Yukihiro Saito, General Manager, Investor Relations Department of Shiseido Co., Ltd.
Click to view presentation.

Zenichi Shishido, Graduate School of International Corporate Strategy, Hitotsubashi University

Masaaki Tanaka, President & CEO, Union Bank

Steven Vogel, Professor of Political Science, University of California Berkeley

Friday, August 7, 2009
Check In: 10:00 am
Program: 10:30 am to 5:00 pm
Networking Reception: 5:00 to 6:30 pm

Hotel Nikko
222 Mason Street, San Francisco

JSNC Members (Individual & Corporate):
$100 on or before July 15, 2009
$125 after July 15, 2009

General Admission:
$150 on or before July 15, 2009
$200 after July 15, 2009

Student Participant (includes luncheon):

Student Observer (general sessions only):

Registration for this event has closed. This is a special event hosted by the Japan Society of Northern California. Lecture event discounts do not apply and guest passes will not be accepted. The deadline to RSVP for this event is Friday, July 31, 2009; refunds will not be made after this date.

This program is underwritten by Union Bank , Mizuho Securities USA, Inc. and the Law Offices of David A. Makman with support from Federal Reserve Bank of San Francisco, Japan Foundation Center for Global Partnership, JETRO San Francisco, Pacific Pension Institute, California-Asia Business Council and All Nippon Airways.