Independent Outside Director Search
The Corporate Governance Code now requires the appointment of at least two outside directors. Furthermore, the number of overseas institutional investors calling for at least a 1/3 independent board or a majority independent board is increasing.
As of the end of June 2018, 79.3% of 3,595 companies who have submitted a corporate governance report have at least two outside directors and less than 300 companies of them have only one or no outside director. On the other hand, 63.0% of companies who have at least one outside director still do not have a 1/3 independent board (according to IR Japan research).
Because of our long-standing relationship with institutional shareholders and Japanese corporations, we place the highest importance on shareholder’s trust and we will ensure that the outside directors we introduce meet institutional shareholders’ independence guidelines.
We are licensed by the Ministry of Health, Labor and Welfare to charge a fee for employment placement.
(License No. 13-YU-303368)
Distinctive Features of Our Independent Outside Director Search
Our own database of diverse candidates
We find the best candidates for your company from a large selection of experienced individuals who are registered in our database. We have created this database based on our long and deep relationship with Japanese capital market.
Candidates meet institutional investors’ guidelines
We understand the voting trends and guidelines of overseas institutional investors’ with regards to outside directors and we only refer candidates who can obtain large supports in their election from shareholders and capital market.
Support from IR Japan as a corporate governance professional
In addition to assisting you to find the best independent director candidate, we can also advise you on governance-related disclosures and even assist you in creating a corporate governance report.
Referral Process for Outside Directors
Outside Director (Independent Director) Placement Services
A simulation of this process is available at IR Japan’s ID SEARCH website
Screening of prospective candidates
Interview (1-2 rounds)
Nomination of the outside director
Resolution of appointment
at shareholders’ meeting