It's not rare to see Japanese corporate executives bowing in apology for scandals resulting from weak governance and compliance, and then vowing to prevent a recurrence.
A year after the introduction of a governance code urging companies to appoint multiple outside directors, many firms are trying to boost transparency and strengthen monitoring.
Corporate governance experts believe Japan Inc. is moving in the right direction. But some argue having a governance mechanism in place is not a panacea for rooting out scandalous behavior and that instilling a culture of compliance among employees is a more difficult task.