The proportion of companies on the Tokyo Stock Exchange's first section that already have multiple independent outside directors or plan to appoint two or more such directors at shareholder meetings in the near future stands at 77.9 percent, up 29.5 percentage points from a year ago, the TSE has said. The survey, released Friday, suggested that an increasing number of Japanese firms are having multiple independent outside board directors a year after the introduction of a corporate governance code aimed at boosting management transparency, which was compiled by the Financial Services Agency and the TSE.
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