'Japan is waking up' on corporate governance, Dalton co-founder says

Companies like Toyota would benefit from more outside directors: James Rosenwald

Better corporate governance would make Japanese share prices soar, activist investor James Rosenwald argues. © Reuters

MOMOE BAN, Nikkei staff writer

January 3, 2024 00:00 JST

NEW YORK -- 2023 was a year of progress for Japanese corporate governance reform, says James Rosenwald, the co-founder of Dalton Investments who pioneered activist shareholding in the country.

"Japan is waking up. Most CEOs are waking up," Rosenwald told Nikkei Asia in a recent interview, saying that if companies follow his advice, the Nikkei Stock Average could reach 40,000 by 2025.