Corporate Governance refers to the system of rules, practices, and processes by which a company is directed and controlled. It encompasses the mechanisms through which stakeholders, including shareholders, management, and the board of directors, interact to achieve the company’s objectives while ensuring accountability, fairness, and transparency in the organization’s relationship with its stakeholders. Key aspects of corporate governance include the structure and responsibilities of the board of directors, the roles of shareholders, the rights of stakeholders, and the company’s overall ethical framework and compliance with laws and regulations. Effective corporate governance helps enhance the integrity of a company’s financial reporting, mitigates risk, and fosters trust with investors and the public.
A high-ranking executive at TV Asahi misappropriated ¥5.17 million over six years, converting business funds for personal use. Cases of power harassment conducted by the executive created a toxic work…