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Top executives in Western firms earn much more than their Japanese counterparts, the multiple usually is 10 or even more. This fact is well known. Japanese CEOs are primarily expected to work for their company and the company`s stakeholders but not for their own wallet. Earning much more than 10 times the average employee salary is perceived as obscene and rarely happens.
Japan Inc. has outstripped European companies in overseas M&A during the first half of 2018 according to figures of Deallogic looking at vice-versa FDI between the U.S. , Europe and Japan.
Japan`s corporate governance code was introduced in 2015 and has already brought many changes. The number of non-core business carve-out deals and take private deals has clearly increased since then. I would even argue that the dismantling of Toshiba would not have occurred the way it did without the earlier introduction of this code incl. stricter disclosure rules.