• JIJI, Staff Report

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Following the high-profile corporate governance scandal at Nissan Motor Co., the Diet on Wednesday passed a law to strengthen independent checks on major listed firms by obliging them to have outsiders on their board of directors and make executive compensation more transparent.

The House of Councilors approved the bill to amend the Companies Act by a majority vote with support from the ruling Liberal Democratic Party, its coalition partner, Komeito, and opposition parties including the Constitutional Democratic Party of Japan and the Democratic Party for the People.

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