TSE wants firms' governance details Tokyo Stock Exchange President Takuo Tsurushima said Wednesday the nation's largest bourse plans to require TSE-listed firms to submit detailed corporate governance reports.
The TSE has obliged listed firms to specify basic concepts and specific measures for corporate governance in their financial statements since March 2003.
But descriptions in financial statements have been limited to corporate governance systems alone.
Citing recent corporate governance-related scandals, including submission of false data on large shareholders by Seibu Railway Co. and on earnings by Kanebo Ltd., Tsurushima told a panel meeting of the ruling Liberal Democratic Party that companies will have to make more detailed reports.
Corporate governance reports will be separated from financial statements and subjected to close scrutiny by investors and shareholders, he said.