Japan Defends Troubled Firms to Ensure They Survive

The transcript discusses the financial health of companies like Toshiba and Valiant, highlighting issues such as negative operating income and public perception of bankruptcy. It examines the impact of accounting probes on Japanese companies, noting the social role of mega banks in Japan. The discussion extends to corporate governance challenges in Japan, including the lack of independent directors and board diversity. The need for structural reform in Japan is emphasized, particularly in corporate governance and allowing companies to go bankrupt.

What changes are necessary for Japan to improve its corporate governance practices?

Discuss the importance of corporate governance reform in Japan.