Remuneration and corporate governance in Japan
Monday 28 January 2013
The High Pay Centre
32-36 Loman Street
London SE1 0EH
Following on from our successful event examining executive remuneration and corporate governance in France, we will continue our international series with a seminar focused on Japanese business culture.
Japan prides itself on being the country with the smallest salary disparity between executives and employees. In 2011, the UK’s highest paid CEO Barclays’s Bob Diamond, received a £20.9 million remuneration package. Japan’s highest paid CEO, Nissan’s Carlos Ghosn, received £8 million (¥987 million), a salary which itself is much higher than the Japanese average.
Corporate governance in Japan is shaped very differently to the UK model with a highly collectivised decision-making process. This structure is characterised by the ringi-seido where a consultative document is circulated among all employees in order to reach company-wide consensus on decision-making. This structure has, however, come under some criticism, particularly following the Japanese acquisition of UK company Olympus, which exposed the sometimes cumbersome and opaque nature of Japanese business governance. Governance Metrics International ranks Japan’s corporate governance 33rd among the 38 surveyed countries.
In this seminar we will be asking how Japan has achieved these levels of pay equality. We will also contrast the Japanese system of corporate governance with the European models to ask what lessons can be learnt.
Pernille Rudlin, European Representative, Japan International Consulting; Managing Director, Rudlin Consulting Ltd; formerly HR Mitsubishi Corporation
This event will be held at the offices of The High Pay Centre.
Closest tube station: Southwark and London Bridge
Map & directions available here.
Tea & coffee, wine and sandwiches will be served before and after this event.
This event is free of charge but places are limited.
If you wish to attend, please send us an email.
Look out for more events in our international series, taking place throughout 2013. Details to be announced shortly.
Since 1 January 2017 the average FTSE 100 CEO has earned:
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High Pay Centre response to the Queen’s Speech – 21 June 2017
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High Pay Centre statement on the Conservative party manifesto
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The Labour Party is proposing an "Excessive Pay Levy" on businesses offering very large salaries