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 2018 the average FTSE 100 CEO has earned:
Income inequality in the UK
Wealth inequality in the UK
- Labour’s plan for stakeholder votes on boardroom high pay might just work
HPC Head of Policy and Research Ashley Walsh blogs on a new report commissioned by the Labour Party
- HPC Briefing: Executive pay at FTSE 100 Companies that are not accredited living wage employers
Bosses of companies that are not accredited living wage employers paid nearly £4m a year - their combined profits added up to over £85 billion
- Are Chief Executives overpaid? Blog by HPC founder Deborah Hargreaves
Author of new book on top pay calls for a new corporate ethos - contact HPC to attend the launch on 11 October