: The snappily dressed academic headed a 53-person group that spent more than a year reviewing business and financial markets, finally producing recommendations last August that foreshadowed many sweeping changes since, including the code for listed firms that took effect this week, according to The Japan Times. Prime Minister Shinzo Abe governance overhaul takes aim at companies for ignoring profitability and having docile boards, and investors for staying silent as firms squandered their money. Sipping a drink on the 45th floor of a posh Tokyo hotel last week, Kunio Ito was about to celebrate another milestone, with the nation introducing governance rules for companies that other developed countries have had for years. Now both groups have new standards prescribed by the government that they must meet or explain why they did not. Foreign investors say there a revolution going on in Japan and the country DNA is changing, said the friendly 63-year-old, a professor at Tokyo Hitotsubashi University. Ito already sees the impact.
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