Nicholas Benes is chief executive of the Board Director Training Institute of Japan.
Hopes are high that Japan's stock market will see a positive re-rating as corporate managers become more "conscious of the cost of capital."
FSA's latest efforts are promising, but fundamental changes are long overdue

A man walks past a sign of Japan's Financial Services Agency at its headquarters in Tokyo. © Reuters
Nicholas Benes is chief executive of the Board Director Training Institute of Japan.
Hopes are high that Japan's stock market will see a positive re-rating as corporate managers become more "conscious of the cost of capital."