Author: Teruji Suzuki | Pages: 89–105
Corporate governance in Japan may be characterized as a harmonious model of management based on lifetime employment, a seniority wage system and a harmonious relationship between management and trade unions. However it is facing difficulties with more and more serious influences of 'global standards', namely an Anglo-American model of corporate governance.
Historically observed, the reasons of why corporate scandals often reported since the 1990s should be analyzed. Due to a strong position of management shareholders are relatively weak. Although a reform of corporate governance is requested by introducing the US model of corporate governance, the situation is complicated and it is not easy to reach a single conclusion because the ethical principles of management and the other stakeholders towards work and company involved in Japanese society are different from that of the West. Corporate culture has long been shaped by traditional Confucian ethics.