Bloomberg News

TSE Says Allegations Against Companies are ‘Basic’ Ethics Matter

October 26, 2011

Oct. 26 (Bloomberg) -- The Tokyo Stock Exchange said recent allegations against listed companies, including unauthorized lending to a director and concerns about compensation paid to advisers on takeovers, are “questions of compliance and management ethics at their most basic level.”

Domestic and overseas investors have “expressed opinions that the management of such listed companies have unfairly damaged their corporate value,” the bourse said today in a statement on its website. Shareholders also showed concern about “underlying problems in the quality of Japanese corporate governance,” according to the statement, which didn’t identify any companies or investors.

To contact the reporter on this story: Gearoid Reidy in Tokyo at greidy1@bloomberg.net

To contact the editor responsible for this story: Kyung Bok Cho at kcho7@bloomberg.net


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