January 16, 2023
In Recognition of Distinctive Corporate Governance
Hitachi, Ltd. (Electric Appliances)
Nomura Research Institute, Ltd. (Information and Communication)
Murata Manufacturing Company, Ltd. (Electric Appliances)
Kubota Corporation (Machinery)
EBARA CORPORATION (Machinery)
Mr. Yoshihiko Miyauchi (Senior Chairman, ORIX Corporation)
Japan Association of Corporate Directors (Chairman: Kazuhiko Toyama, Group Chairman of IGPI Group and CEO of JPiX.), the independent organization for the board and directors, dedicated to promote excellence in governance and directorship, has announced its Corporate Governance of the Year Prize winners 2022.
The committee decided that the Grand Prize goes to Hitachi, Ltd.
Kunio Ito, Professor Emeritus of Hitotsubashi University, Selection committee member comments on the Grand Prize winner, "It has been a long time since there was a call for a shift from "form" to "substance" in governance reform in Japan, and Hitachi can be highly regarded as one of the few examples of a company that combines both. The company's thorough handling of its listed subsidiaries in recent years is indicative of the high level of governance at the company. Not only are the members of the board of directors diverse (in terms of skills, nationality, and gender), but the level of the board's secretariat is also high, and these factors support the separation of execution and oversight and contribute to the board's effectiveness."
Tokyo Governor Prize has been established to praise a company which has excellent corporate governance and also practices ESG activities such as environmental activities, women empowerment, and initiatives for diversity.
METI Minister's Award was newly established to recognize a company particularly in appraisal of selection and succession of presidents and CEOs, the planning of which are fundamental for corporate governance.
Japan Association of Corporate Directors Corporate Governance of the Year 2022
The awards go to the companies which have achieved and maintained long term profitability by implementing good corporate governance with the goal of revitalizing the Japanese economy, since 2015.
Endorsed by Financial Services Agency, Minister of Economy, Trade and Industry, Ministry of Justice, Tokyo Metropolitan Government, Tokyo Stock Exchange/Japan Exchange Group, The Japanese Institute of Certified Public Accountants (JAPAN), IR Association of Japan and Asian Corporate Governance Association.