概要
サービス
Nicholasさんの記事
貢献
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What are the most important resources for finding accurate financial data for business valuation?
Not the exact topic here... but you should supplement financial data with non-financial data, including HOW management explains its financial performance. The most obvious example would be to look at Management Discussion and Analysis (MD&A) section of the financial reports (e.g. 10-K, or in Japan, the Yuho. ) You should also look at the quality of governance practices used by the company, and how they are improving over time, in the context of that particular market. It is the board that is (or should be) pushing management to achieve better returns for shareholders, and profitability, ...without compliance violations etc. In Japan, BDTI offers this system for analyzing companies' disclosure and governance: https://youtu.be/d7k0e_M5rY8
アクティビティ
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📢 We are thrilled to announce that Corporate Action Japan (CAJ) has joined the International Bankers Association of Japan (IBA Japan) as an…
📢 We are thrilled to announce that Corporate Action Japan (CAJ) has joined the International Bankers Association of Japan (IBA Japan) as an…
Nicholas Benesさんが「いいね!」しました
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TELL would like to thank Akai Hane Kyodo Bokinkai for the generous grant in aid of youth mental health in 2023-2024 as part of their program to…
TELL would like to thank Akai Hane Kyodo Bokinkai for the generous grant in aid of youth mental health in 2023-2024 as part of their program to…
Nicholas Benesさんが「いいね!」しました
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The HekaBio team celebrated our 8th anniversary with a visit to Kanda Myoujin Shrine. We were blessed with beautiful weather and a great opportunity…
The HekaBio team celebrated our 8th anniversary with a visit to Kanda Myoujin Shrine. We were blessed with beautiful weather and a great opportunity…
Nicholas Benesさんが「いいね!」しました
職歴 & 学歴
ボランティア経験
出版物
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役員候補のスキルに目を向けよ
日本経済新聞
「残念なことに多くの日本企業は社内外を問わず新任取締役の教育よりも、実地訓練に頼る傾向が強い。そのため、新任取締役の多くは就任後2年間はあまり発言しない。結果として、事業ポートフォリオ・合理化などの根幹的な問題に取り組むことに貢献できない。」
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Shareholders must ask more of Japanese board candidates
Nikkei Asia
"[Many] domestic and foreign asset managers... regularly vote in Japan for every director nominated by management in the absence of major scandal or a clear lack of independence. They do this without confirming their knowledge of director duties, corporate and securities law, governance best practices, board participation techniques, finance, or ESG disclosure requirements. Blind support for management nominees in the absence of confirmation of their qualifications or training makes no…
"[Many] domestic and foreign asset managers... regularly vote in Japan for every director nominated by management in the absence of major scandal or a clear lack of independence. They do this without confirming their knowledge of director duties, corporate and securities law, governance best practices, board participation techniques, finance, or ESG disclosure requirements. Blind support for management nominees in the absence of confirmation of their qualifications or training makes no fiduciary sense in an age when human capital is supposed to be essential.. Yet even the companies that advise investors how to vote at shareholder meetings, such as Institutional Shareholder Services and Glass, Lewis & Co., continue to overlook the issue of unprepared Japanese board nominees."
プロジェクト
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Stewardship Code - Japanese Pension Funds
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I proposed to the Prime Minister, and then the Minister of Health, Labour and Welfare (MHLW), that Japan needed much better investors stewardship by its corporate pension funds, and that the country should fortify its pension law so as to require that. I was asked by the Minister of MHLW to prepare the minimum "tweak" to the law that would at least get the process started, and after six months of study and interviews I submitted this detailed proposal:…
I proposed to the Prime Minister, and then the Minister of Health, Labour and Welfare (MHLW), that Japan needed much better investors stewardship by its corporate pension funds, and that the country should fortify its pension law so as to require that. I was asked by the Minister of MHLW to prepare the minimum "tweak" to the law that would at least get the process started, and after six months of study and interviews I submitted this detailed proposal: https://bdti.or.jp/2016/08/20/pengovrprop/ , which essential is a "comply-or-explain" rule that would motivated corporate pension funds to sign the Stewardship Code (S.C.). This resulted in an inter-agency study group, which then led to a section of the revised S.C. that fortifies the duties of end asset owners, and a new principle in the Corporate Governance Code that specifically requires companies to have their pensions do everything they would need to do in order to comply with the S.C. (thus leaving them with no excuse NOT to sign). This was major progress.
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Corporate Governance Code of Japan
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In October of 2013 I proposed in a Wall Street Journal article that Japan adopt a corporate governance code. In late 2013 and early 2014 I proposed the same thing to key members of the diet, and presented the concept to the LDP growth strategy committee in a speech in early February, 2014 . This proposal became the centerpiece of the LDP's June 2014 growth strategy. I then advised certain diet members, and later the FSA officials in charge of drafting the code, on the process and the contents…
In October of 2013 I proposed in a Wall Street Journal article that Japan adopt a corporate governance code. In late 2013 and early 2014 I proposed the same thing to key members of the diet, and presented the concept to the LDP growth strategy committee in a speech in early February, 2014 . This proposal became the centerpiece of the LDP's June 2014 growth strategy. I then advised certain diet members, and later the FSA officials in charge of drafting the code, on the process and the contents of the CG Code, which was finalized in March of 2015.
言語
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Some French and Spanish
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組織
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Inactive Member, New York Bar + California Bar Associations
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– 現在
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惨情とともに、居並ぶ老人の面々 "Kind of makes one wonder if too many old men rule the planet."
惨情とともに、居並ぶ老人の面々 "Kind of makes one wonder if too many old men rule the planet."
Nicholas Benesさんが「いいね!」しました
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Is it time to critcally examine the conviction that companies can or will drive #decarbonization? 💡A theory of change espoused by sustainability…
Is it time to critcally examine the conviction that companies can or will drive #decarbonization? 💡A theory of change espoused by sustainability…
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Besides unicorns such as Sakana AI, a growing number of next-gen AI startups are emerging from Japan, so watch this space!🚀 Stimulating…
Besides unicorns such as Sakana AI, a growing number of next-gen AI startups are emerging from Japan, so watch this space!🚀 Stimulating…
Nicholas Benesさんが「いいね!」しました
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I hear peers in the responsible and impact investing industries often say that climate is the top priority because it is an existential threat. But I…
I hear peers in the responsible and impact investing industries often say that climate is the top priority because it is an existential threat. But I…
Nicholas Benesさんが「いいね!」しました
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Our Dec. Boot Camp is already full & our March session is filling up! We may add a late January session, but ONLY if there’s enough people who will…
Our Dec. Boot Camp is already full & our March session is filling up! We may add a late January session, but ONLY if there’s enough people who will…
Nicholas Benesさんがシェアしました
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I am pleased to announce that my publisher will be making a paperback version of our book on the Japanese constitution available in Japan for the…
I am pleased to announce that my publisher will be making a paperback version of our book on the Japanese constitution available in Japan for the…
Nicholas Benesさんが「いいね!」しました
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