Tokyo urged to improve corporate governance

JAPAN - Japan's banks will never recover their health unless they undergo a drastic improvement in corporate governance similar to that imposed on South Korean financial institutions after the 1997 financial crisis, according to a Standard & Poor's report published yesterday.

The rating agency's study, timed to appear shortly before Japan announces plans to accelerate the disposal of non-performing loans, urges the Japanese government to take a more radical approach than the last time it injec

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