All of JACD works are organized in order to review Corporate Governance and directorship issues from a wide range of angles; education, seminars and events for directors, publications and developing and promoting policies on issues of interest to directors.


Chairman's Message 2019

Japan Association of Corporate Directors
Yoshihiko Miyauchi, Chairman

Current Status of Corporate Governance

The era changes from Heisei to Reiwa, and expectations for the new era are rising.
Looking back on the 30-years of the Heisei era, we are reminded of a series of striking developments including the emergence of a global market with the disappearance of socialist states, the rise of China and emerging nations, a tremendously rapid advancement in IT that is epitomized by communications technology, and a decline in the superiority of those industries that had hitherto driven Japan's growth.

What kind of age will the new era turn out to be? From now on, we may witness a transition from a time in which Japanese companies could grow as a whole, to one in which the ingenuity of each individual company might result in the severity of the market economy coming into clearer focus, as the differences between the relative superiority and inferiority of each of the companies come to be more obviously discernible.

JACD to be the partner organization at ICGN 2019 Annual Conference Tokyo

International Corporate Governance Network (ICGN) is announced to hold 2019 Annual Conference & Annual General Meeting.

Over 600 influential governance professionals will convene in Tokyo to discuss progress towards Japan's Revitalization Strategy to enhance long term corporate value contributing to sustainable economies world-wide.
It will take place at the Hotel New Otani in Tokyo over July 16-18, 2019.

JACD delighted to be a part of this event as the partner organization.

Please visit the event website for more information.


Chairman's Message 2018

Japan Association of Corporate Directors
Chairman Yoshihiko Miyauchi

External Environment

The Japanese economy remained generally strong during the last fiscal year. Corporate activity showed a similar trend with the net profit of listed companies, for example, increasing by about 30%. One reason for this is that growth in corporate earnings depends just on a favorable economic environment but also on the fact that capital markets have now begun to strongly demand growth in the business results delivered by companies. However, there is only one Japanese company among the world's top 20 in terms of net income. This fact shows the Japanese firms are still a long way from reaching a satisfactory level or one that is comparable to the past achievements of Japanese companies. There is also the reality that the growth potential of Japanese companies has not yet attained to the global standard.

As the Asia's biggest organization, the National Director conference took place at the Plaza Athenee, A Royal Meridien Hotel in Bankok, Thailand on June 14, 2017.

The theme of the Conference was ","Steering Governance In A Changing World", and the event attracted some 400 delegates and speakers from mainly from Asia Pasific, Africa and East Europe.


Chairman's Message 2017

Japan Association of Corporate Directors
Chairman Yoshihiko Miyauchi

External Environment

Since last year, the environment surrounding our country has changed dramatically. In the United States, a new president was elected, the UK voted for withdrawal from the EU, elections were held in major countries in the EU, and these developments, combined with the rise of protectionism and the geopolitical risks posed by Syria and North Korea, created a situation in which the eyes of the world were fixed on Europe, America, and East Asia.

Asia Corporate Governance Association (ACGA)'s 16th Annual Conference, the "Asian Business Dialogue on Corporate Governance 2016", took place at the Conrad Hotel in Tokyo over November 15-16, 2016. The theme of the Conference was "Corporate Governance in North Asia: Contrasting Paths to Reform", and the event attracted some 300 delegates and speakers from 21 countries in Asia and other parts of the world.

JACD delighted to be a part of this event as the supporting organization.


Chairman's Message 2016

Japan Association of Corporate Directors
Chairman Yoshihiko Miyauchi

The Economic and Business Climate

The economic picture at the end of 2015 made it difficult to be optimistic about the outlook. Economies of emerging countries, which had been driving global economic growth, were sluggish. Excess production capacity in China is a major cause. Emerging country economies were further impacted by the sharp drop in prices of natural resources and raw materials. Economic growth has been weak in industrialized countries, too. There are concerns about Europe, and the U.S. economy alone does not have the strength to fuel global economic growth.


Chairman's Message 2015

Japan Association of Corporate Directors
Chairman Yoshihiko Miyauchi

Business Environment

In 2014, corporate governance started showing signs of a major change for the first time, attracting the attention of the wider business community.

The 2014 Japan Revitalization Strategy under Abenomics stated that to restore Japanese companies' earnings power it is necessary to strengthen corporate governance. It also required investors to comply with the Stewardship Code while requiring companies to comply with the Corporate Governance Code. In line with the enactment of the Companies Act of Japan, revised in May 2015, there is an expectation that the growing trend to strengthen corporate governance will bring positive changes to companies and to society. The question is, what impact will the changes bring to Japan's business world?

The Article on The Wall Street Journal - Director-training classes

A state of the director-training classes was introduced on the article →VIDEO


The Article on The Japan Times

Shigeru Matsumoto, Managing Director at JACD had an interview with The Japan Times, and it was placed on Aprl.27th.

New rules are pushing Japanese corporations to tap more outside directors―Move aims to boost scrutiny of corporate management BY KAZUAKI NAGATA →The Artcle


Chairman's Message 2014

Japan Association of Corporate Directors
Chairman Yoshihiko Miyauchi

Changes in the Business Environment

The Japanese economy has started to make a recovery driven by the effects of Abenomics, the economic policies of the Abe administration which took office at the end of 2012.

Abenomics consists of three arrows -- bold monetary policy, flexible fiscal policy, and a growth strategy that encourages private investment. The first and second arrows that have been implemented under the leadership of the government and the Bank of Japan have produced positive effects including the correction of the strong yen and a hike in stock prices which led to a gradual recovery in corporate performance.


Chairman's Message 2013

Japan Association of Corporate Directors
Chairman Yoshihiko Miyauchi

Environment surrounding us

In the wake of the governmental change in December 2012, the economic policies of the Abe administration, as it is called "Abenomics" effect has brought a significant change in our business environment. The Bank of Japan's drastic monetary easing has led to the depreciation of the yen and the consequent recovery of share price and the real estate market, resulting in showing some brightness in business confidence. Also, Japan received favorable responses to its representation to joining the Trans-Pacific Partnership (TPP) talks and efforts toward growth strategies, making us feel a new life to slip out of the longstanding stagnation. In addition to expectation of both Japanese and overseas investors for improvement of corporate earnings, investment focusing on the mid- and long-term change in the Japanese economy has started growing. In terms of general consumption, family-style eateries and department stores have shown a recovery with the number of coming-in customers and unit prices. We would like to see closely on whether Japan will be able to break away from the deflation, which had been a major obstacle of the Japan's economy for long decades.


Directors' Program

Each program is designed to help directors make a progress in the quality of their governance and directorship skills.

  • Directors' duties and Responsibilities
  • Ethics and Compliance
  • Regulatory Updates and the governance environment
  • Finance and Accountability
  • Risk Issues for Directors
  • The Board's Role

JACD facilitate professional development through the sharing of ideas and knowledge and through the discussion about topical director and governance issues. Stay up-to-date on emerging issues, new policies, leading board practices, and refresh your knowledge of the essentials.


Morning Forum

This forum provides useful information from the expert of various fields about environment surrounding business. Among exclusive members, you can share your own thoughts about the concern of the everyday business.


New Corporate Directors' Course

This program is designed to provide new directors, senior executives and managers with a basic overview of the duties and responsibilities of directors.
Our faculty, experienced board directors and expertise, provide you with knowledge and networking you need to make the boardroom more effective.

  • Directors liabilities
  • Current legal trends
  • Audit for non financial directors
  • Roles of the Board & Management

Board Recruitment Network

Experienced management is registered at our association as members and they learn about the highest theory and practice about corporate governance. JACD play a role for supplying the talented person as the independent director for a listed company.


Forums: Dialogue with the regulation setting organization

Affect the policy making process of the corporate governance system, through dialogue with financial regulators and stock exchanges. It plays an essential role in developing policies and practices for today's corporate governance challenges.


Forums: Dialogue with institutional investors

The pressure from the capital market, including shareholders and institutional investors improve the business results of the Japanese company. From the talks with investors, JACD take an effective action through corporate governance development to call in investment from the world in the Japanese market.