Similar to Sarbanes-Oxley Act of 2002, Japanese Corporate Governance Code took effect in June 2015.

Similar to Sarbanes-Oxley Act of 2002, Japanese Corporate Governance Code took effect in June 2015. Why would the top executives in Japan become more ethical based about the recent legislation with respect to the composition of the Board of Directors? Justify the rationale of Japanese top managers with respect to their sociocultural, political, and legal factors.