Japanese Law does not protect shareholder rights:
Japanese Law does not protect shareholder rights:
Livedoor who now owns more than 50% of Nippon Broadcasting has to wait 3 months till June to replace the current board of directors. It is impossible to call for an extraordinary shareholder meeting to change the Board even if you own the majority of shares in a company.
This type of archaism in Japanese Law really reflects the fact that a long way has still to go before shareholder rights are recognized in Japan.
by Eric Perraudin
http://www.japanconsult.com/
Livedoor who now owns more than 50% of Nippon Broadcasting has to wait 3 months till June to replace the current board of directors. It is impossible to call for an extraordinary shareholder meeting to change the Board even if you own the majority of shares in a company.
This type of archaism in Japanese Law really reflects the fact that a long way has still to go before shareholder rights are recognized in Japan.
by Eric Perraudin
http://www.japanconsult.com/
posted by Eric Perraudin @ 3:48 PM
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