. Globalization of markets of markets and finance put further pressure on companies. The paternalistic relationship between company and lifetime’ salary-man’ slowly began to crumble. Some companies came under pressure from institutional investors abroad. Company law were then redrafted to permit a more US style of corporate governance. But few firms have yes embraced them. More emphasis has, however, been placed on shareholders, with board restructuring and Directors receiving performance incentives. Some companies experimented with alternative, hybrid forms of governance structure. Consequent, there is now more diversity in the approaches to corporate governance in japan , although changes tend to be gradual and incremental. But some have predicted moves towards the US or UK/Commonwealth models , as japan respond to the pressures of the globalization of business and finance.