Japan Inc. is often criticized for its poor corporate governance, especially when it comes to monitoring how top management makes decisions.
The Olympus Corp. scandal, based at the very least on the camera maker being caught covering up massive investment losses over almost two decades, has done nothing to dispel this impression. It has drawn tremendous foreign media attention and raised questions about whether other Japanese blue-chip companies are also engaged in shady practices stemming from their bubble days.
Following are questions and answers about corporate governance in Japan: