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Japan crafts governance reforms, with 2020 set as target year

Listed and unlisted companies are both required to have outside directors

More than 90% of companies listed on the Tokyo Stock Exchange already have an outside director, but this will become a requirement.   © Reuters

TOKYO -- A government panel released a package of corporate governance reform proposals on Wednesday, setting out such rules as requiring larger corporations -- both listed and unlisted -- to have outside directors.  

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