Seiichi Ochiai, Professor of Commercial Law ,Chuo Law School
Kakutarou Kitasiro, Supreme Adviser, Japan IBM Co., Ltd.

While having supported the high economic growth and long-term employment of Japan heretofore, Japanese social system now draws more and more comments that its flaws have become very obvious. With one after another sequel of the bubble economy surfacing, efforts have been paid to search for new management for the new era. On the other hand, we hear accelerating criticism from overseas against the closeness of Japanese economy. Under such changing situation the Japan Corporate Governance Forum (JCGF) was established in 1994.

For whose interests does the company exist?h gWho should be charged to monitor the operation of the company?h The academic field for studying such fundamental problems of company system is called Corporate Governance. Dictatorship of management should be prohibited; on the other hand the arbitrariness of shareholders, who tend to be swayed by only short-term profit, should also be blocked; still, fairness of competition and employment should be offered to employees. The company system for realizing such ideal objectives forms the biggest theme in the field of Corporate Governance.

When Japan could keep its successes in economic development until 1980s, the importance of this field did not get much recognition. However in the current times of transition it has attracted much attention in Japan. The research subjects cover broad aspects such as company system, employment, authority of top management, monitoring, shareholdersf general meeting, capital market, international capital and so on.

The basic concepts of JCGF are interdisciplinary , theoretical-practical and international cooperation. The three ideas also serve as the guideposts of JCGF for achieving its goals.

Pursuing above objectives and methodology, JCGF attempts not only to put forward effective policies relevant to corporate governance, but also to set a model for exploring new kinds of academic associations. We sincerely welcome your participation in JCGF, which is searching for new company missions in the 21st century.