Representative director (代表取締役, daihyō-torishimariyaku) is the position of the most senior executive in charge of managing a corporation which is registered in Japan. As regulated by the Companies Act of Japan, joint-stock companies incorporated in Japan must have a representative director.[1] The representative director typically reports to the company's board of directors and is responsible for maximizing the value of the business.[2]
Responsibilities
editCorporations registered in Japan have multiple directors. The representative director is a type of director with the company's highest authority and possesses the right to enter into business and sign legal contracts on behalf of the corporation in Japan. The person holding this position is registered publicly on the official corporate register.[3] His or her statements legally bind the corporation.[4]
Limitations
editIn Japan, a representative director is not considered to be an employee of that company and is unable to receive certain benefits which are accorded to employees.[5]
References
edit- ^ "Japan: Companies Act (Act No. 86 of July 26, 2005)". www.wipo.int. Retrieved 2017-07-09.
- ^ "Corporate Governance Review" (PDF).
- ^ "Who can be a representative director and what are the residency requirements". shiodome.or.jp. Retrieved 2017-07-09.
- ^ "Japan's MoJ moves to make business easier for foreigners". www.globallegalpost.com. Retrieved 2017-07-09.
- ^ Latham & Watkins LLP - Hiroki Kobayashi (30 June 2010). "Ten questions on Japanese employment law | Lexology". Retrieved 2017-07-09.