arrow-circle-full-right arrow-circle-full-up arrow-circle-up arrow-down arrow-right calendar calendar-done facebook flickr home linkedin login pin reload search share signin star twitter video video youtube nav star-plus info signout double-arrow arrow-up checked
Finance, Banking and Capital Markets, Investment and Asset Management

FT Briefing: A New Dawn for Corporate Governance in Japan

How reforms are transforming the outlook for the Nikkei 225

New York |
Speakers include:
Satoru Murase

Satoru Murase

Mayer Brown

Donna Nairi

Donna Nairi

ICONICBETA

Lauren Compere

Lauren Compere

Boston Common Asset Management

Overview

Corporate governance is changing in Japan, and equity investors look set to reap the benefits. The new Stewardship and Corporate Governance codes, under Prime Minister Abe’s third arrow of reforms, are driving companies to adapt their behaviour and embrace global standards.  The resulting higher profit levels and dividend payouts, as well as steps to introduce independent directors and reduce complex cross-shareholdings, are opening up attractive opportunities for international investors to unlock value in the world’s third largest economy.  Though the pace of change is gradual, the outlook is positive as Abe’s vision for a new ‘Corporate Japan’ takes shape and the voice of foreign and domestic shareholders become part of company culture.

Presenting expert analysis and case study insights on how corporate governance reforms are redefining the outlook for investing in Japan, the Financial Times and Nikkei will convene the second in its series of high level gatherings in New York this October. Join investors, issuers, brokers and advisors for a complete briefing on the structural changes happening in Japan’s companies, and how they are impacting equity valuations and investment returns.

fallback
fallback Add to my Calendar 10/22/2019 08:00:0010/22/2019 11:00:00falseFT Briefing: A New Dawn for Corporate Governance in JapanCorporate governance is changing in Japan, and equity investors look set to reap the benefits. The new Stewardship and Corporate Governance codes, under Prime Minister Abe’s third arrow of reforms, are driving companies to adapt their behaviour and embrace global standards.  The resulting higher profit levels and dividend payouts, as well as steps to introduce independent directors and reduce complex cross-shareholdings, are opening up attractive opportunities for international investors to unlock value in the world’s third largest economy.  Though the pace of change is gradual, the outlook is positive as Abe’s vision for a new ‘Corporate Japan’ takes shape and the voice of foreign and domestic shareholders become part of company culture.Presenting expert analysis and case study insights on how corporate governance reforms are redefining the outlook for investing in Japan, the Financial Times and Nikkei will convene the second in its series of high level gatherings in New York this October. Join investors, issuers, brokers and advisors for a complete briefing on the structural changes happening in Japan’s companies, and how they are impacting equity valuations and investment returns.FT-Briefing:-A-New-Dawn-for-Corporate-Governance-in-Japanff387620fa8975b2834605b9ad76e947MM/DD/YYYY

Article: Now is the time to start investing in Japan

Read more

Article: Investing in Japan through ETFs

Read more

Article: The outlook for Japanese equities

Read more

Article: Why the time has come to buy into Japan

Read more

Agenda - 22nd Oct

  • 8:00am
    Registration, networking & refreshments
  • 9:00am
    Opening remarks from the Chair

    Richard Henderson, US Capital Markets Correspondent, Financial Times

  • 9:05am
    Welcome

    Hidefumi Koshinaka, General Manager of Index Business Office, Nikkei Inc

  • 9:10am
    Opening keynote address: Are Japanese corporate governance reforms a game-changer?

    Takatoshi Ito, Professor, School of International and Public Affairs, Columbia University

  • 9:40am
    Dialogue - From policy to practice: Making reforms work for international shareholders and stakeholders

    Corporate governance and stewardship reforms in Japan has made great strides in recent years and are having a major impact on the country’s corporate culture, and its attractiveness to investors. But are companies doing enough or truly making substantive changes?  As shareholder engagement increases, tough questions are being asked of managements as they continue the path towards reform.  What are the next steps to see real progress in areas such as increasing the numbers of independent board directors, and in the promotion of gender diversity? To what extent are cross-shareholdings and takeover defence measures being reassessed?  How important is it that investors continue to make their voice heard in driving forward change?

    Marc Goldstein, Executive Director, Head of US Research, ISS

    Satoru Murase, Partner, Mayer Brown

  • 10:00am
    Q&A
  • 10:10am
    Panel Discussion: Capitalising on change - Is now the opportune time to invest in Japanese equities?

    As Japan’s corporate governance reforms take hold, investor appetite is growing for this traditionally underinvested and undervalued market. Is now the right time to gain exposure and what are the best routes? As the power balance shifts between stakeholder and shareholder, do outcomes now rest on the extent to which investors demand better returns on their holdings? Which sectors and companies show the best potential in the coming year? 

    Lauren Compere, Managing Director, Director of Shareowner Engagement, Boston Common Asset Management

    Drew Edwards, CEO and Chief Investment Officer, Usonian Investments

    Julia Merz, Portfolio Manager and Global Equity Research Analyst, DWS

    Donna Nairi, Founder and Chief Executive, ICONICBETA

  • 10:50am
    Q&A
  • 11:00am
    Closing remarks from the Chair

Speakers (8)

Satoru Murase

Satoru Murase

Partner
Mayer Brown

Satoru Murase is a partner at the law firm of Mayer Brown LLP. He advises global corporations regarding cross-border investments and disputes in the United States, Asia, Europe and the Middle East.  Satoru advises extensively on major Japanese corporate governance and shareholders matters. Satoru is identified in The Best Lawyers in America (2012–2019) and The Best Lawyers in Japan (2012–2019) and as one of the BTI Client Service All-Stars. He has represented clients facing international trade disputes before the US Trade Representative, Department of Treasury, ITC and Department of Commerce. He is a graduate of Harvard College and Georgetown University Law Center.

Donna Nairi

Donna Nairi

Founder and CEO
ICONICBETA

Donna Nairi is an entrepreneur, the Founder and CEO of ICONICBETA, a financial products innovator.  ICONICBETA develops thematic investment strategies in collaboration with "iconic", highly motivated and respected individuals and organizations, focusing on the field in which their expertise is acknowledged. Donna's mission is to encourage engagement of a wider circle of investors with public equity markets - including Japanese equity markets - and open investment horizons to the next generation of global investors. She is a former investment banking structurer at RBS Securities and Sempra Energy Trading, in Hong Kong, London and New York. Born in Aberdeen, Scotland, she holds an MA in Economics from the University of Dundee and Stevens Institute of Technology, USA.

Lauren Compere

Lauren Compere

Managing Director, Director of Shareowner Engagement
Boston Common Asset Management

Lauren Compere is a Managing Director and the Director of Shareowner Engagement at Boston Common Asset Management, a majority-employee-owned and woman-led investment management firm specializing in U.S. and international responsible investing.  Ms. Compere heads Boston Common's shareholder engagement program. She has worked in the responsible investment industry for 30 years and has 17 years of experience in global responsible investing. She is a frequent speaker at industry conferences in the US, Europe, and Asia and a guest contributor to the Huffington Post and Medium.  Ms. Compere sits on the Governing Board of the Interfaith Center on Corporate Responsibility (ICCR) and previously served as Treasurer. She also sits on the board of the Access to Nutrition Foundation (Netherlands). In addition, she serves on the Steering Committee for the Investor Alliance for Human Rights (an ICCR project), the Business Ethics and Systemic Risk Committee for the International Corporate Governance Network (ICGN) and was previously a board-alternate for the Global Network Initiative.  Ms. Compere was Co-Chair of the Emerging Markets Disclosure Project (EMDP) and co-lead for the EMDP Korean team (2009-2012). Since 2014 Ms Compere has led a multi-year global investor engagement “Banking on a Low Carbon Future” which has benchmarked the performance of 60 banks on climate risk, strategy, and funding climate adaptation and mitigation through the creation of new metrics, reports, and active engagement. Lastly she sits on the Strategy and Design Team of the Climate Safe Lending Network.

Drew Edwards

Drew Edwards

Founder, CEO and CIO
Usonian Investments

Drew Edwards is Founder, CEO and CIO of Usonian Investments, LLC, an independent investment advisory firm with offices in Chicago and Tokyo. The firm launched in 2017 when Drew completed his buyout from Advisory Research Inc, the asset management subsidiary of Piper Jaffray & Company.  Usonian’s AUM exceeds $1 billion invested in Japanese equities. Usonian’s governance focused investment approach calls for engagement with management to enhance corporate value and influence outcomes. Prior to founding Usonian, Drew was Managing Director and Portfolio Manager of international equities at Advisory Research.  Before joining Advisory Research, he was an investment professional at Taiyo Pacific Partners, and an investment banker at Lehman Brothers. He also has held management positions at McKesson Corporation and Pfizer Pharmaceuticals. Drew holds a BA in International Business from Sophia University in Tokyo and an MBA and JD from Kellogg School of Management at Northwestern University.  He was admitted to The State Bar of California and is a Director and Officer of the Japan American Society of Chicago, where he also serves on the Executive Committee.

Marc Goldstein

Marc Goldstein

Executive Director, Head of US Research
ISS

Marc Goldstein is Head of U.S. Research with responsibility for ensuring high-quality and timely analyses for ISS clients with exposure to the U.S. equity market.  Over a tenure spanning two decades, Marc has held various roles within the research organization, including most recently as Head of the U.S. Energy & Industrial sector. Marc also served as Head of ISS’ Policy Steering Committee where he was responsible for ISS’ benchmark voting policy development process, coordinating the activities of the ISS Policy Board and managing the global policy interpretation group. Prior to that, Marc coordinated engagement between ISS research analysts and external constituents, including corporations, shareholder resolution proponents, and business organizations. A fluent Japanese speaker, Marc served as ISS’ Head of Japan Research, based in Tokyo, before joining the U.S. research team.  Marc is a frequent commentator on governance, shareholder activism, issuer-shareholder engagement, and related matters with appearances before audiences at academic and trade conferences. He is widely quoted in the business media on the rights of shareholders at U.S. and Japanese companies and other topics affecting the corporate governance landscape. Marc holds a BA in East Asian Studies from Wesleyan University, an MA in Economics from the University of Maryland and a JD from the University of Michigan Law School.

Takatoshi Ito

Takatoshi Ito

Professor, School of International and Public Affairs
Columbia University

Takatoshi Ito joined the faculty of the School of International and Public Affairs at Columbia University, as a Professor of International and Public Affairs in 2015. An internationally renowned economist, Professor Ito is an expert on international finance, macroeconomics, and the Japanese economy who served from 2006 to 2008 as a member of the Prime Minister’s Council on Economic and Fiscal Policy. He also held senior positions in the Japanese Ministry of Finance and at the International Monetary Fund. He served as Dean of the University of Tokyo’s Graduate School of Public Policy for the past two years and as professor at Japan’s National Graduate Institute for Policy Studies. He has served as a visiting professor at both Columbia and Harvard and taught at other institutions. He earned his PhD in economics at Harvard University. Professor Ito has held distinguished academic and research appointments and has authored many studies, books and articles.

Hidefumi Koshinaka

Hidefumi Koshinaka

General Manager, Index Business Office
Nikkei Inc.

Hidefumi Koshinaka is General Manager in the Index Business Office of Nikkei Inc. He was formerly Deputy Managing Editor and Chief Editor of the Nikkei Editorial Bureau for four years. Before that he held the position of Editor in Chief of Nikkei Veritas from 2011, and previously served as Chief Correspondent in New York from 1998.  Mr Koshinaka joined Nikkei in 1986 and covered financial and capital markets news in Tokyo and Osaka. He holds a BA in Economics from Waseda University. 

Julia Merz

Julia Merz

Portfolio Manager, Global Equity Research Analyst
DWS

Julia Merz is a Portfolio Manager and Global Equity Research Analyst at DWS, based in New York.  She has responsibility for stock selection and sector and country positioning for non-US names. Prior to joining DWS she completed a PhD in Economics at the University of Cologne and was a guest researcher at UC Berkeley. She holds a master’s degree in Finance and Japanese studies from the University of Mannheim, Germany.

fallback

Chair (1)

Richard Henderson

Richard Henderson

US Capital Markets Correspondent
Financial Times

Richard Henderson is the FT's New York-based US Capital Markets Correspondent. He covers equity markets and asset management across the Americas. Before that he was associate editor of FundFire, the FT Group's investment management news service.

Who attends

The briefing is aimed at senior-level executives working as ETF issuers, investors or advisors who hold the following job titles:

CEOs
Heads of ETFs
Heads of Investment Strategy
Heads of Products / Product Development
Heads of Research
Heads of Distribution
Heads of Equity ETFs
Heads of ETF sales
Heads of International ETFs

fallback

Venue

The Dominick
246 Spring St
New York NY 10013

United States of America


fallback

Presented by (1)

The Financial Times is one of the world’s leading business news organisations, recognised internationally for its authority, integrity and accuracy. The FT has a record paying readership of one million, three-quarters of which are digital subscriptions. It is part of Nikkei Inc., which provides a broad range of information, news and services for the global business community.

IN PARTNERSHIP WITH (1)

Nikkei is a trusted media brand in Asia, known for its quality journalism and capability in providing business news and information. Founded as a market news media in Japan in 1876, Nikkei has grown to be one of the largest media conglomerates with 37 foreign editorial bureaus and approximately 1500 journalists worldwide, with another global media brand, the Financial Times, joining in our group in 2015. Nikkei are continually deploying new technology to find new ways to deliver news as a reliable source of information for the global community.

Contact us

Claire Arpa
Speaking Opportunities
Financial Times
Yvonne Hynes
Speaking Opportunities
Financial Times
Emma Davis
Marketing, Media Partnership and Delegate enquiries
Financial Times