Latest news with #foundingfamilies
Bloomberg
03-07-2025
- Business
- Bloomberg
Korea's Reform Drive Gets a Boost as Lawmakers Vote for Changes
South Korea's ambitious plan to improve corporate governance standards got a boost after the parliament voted to approve changes that will help protect the rights of minority shareholders. The revisions to the so-called commercial code include making board members legally accountable to all shareholders, instead of catering largely only to those with significant stakes — such as the founding families of the nation's many conglomerates. Another key change is to limit the voting rights of the largest shareholders and related parties to 3% when appointing the members of an audit committee.
Bloomberg
07-05-2025
- Business
- Bloomberg
Japan's Tycoon Families Seek Buyouts to Evade Investor Pressure
Akio Toyoda's $42 billion plan to buyout Toyota Industries Corp. is the most dramatic example of a growing trend in Japan of founding families trying to take companies private. The Ito family, which owns 8% of Seven & i Holdings Co., tried unsuccessfully to engineer a management buyout to thwart a takeover offer of the retailer. The founding family of software developer Fuji Soft Inc. also made a failed attempt to buy out the firm in conjunction with Bain Capital.
