PRESS DIGEST-Financial Times, Wall St Journal Asia editions
SINGAPORE, June 26 (Reuters) - The Financial Times and the Wall Street Journal carried the following stories in their Asia print or website editions on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.
FINANCIAL TIMES (www.ft.com)
-- Japan's Ministry of Economy, Trade and Industry, widely seen as overly protective of domestic companies, is pushing for tax reforms to encourage more foreign funds to invest in Japan; it also wants to set up a forum to bring foreign fund managers face to face with the Japanese executives who often fear them.
-- Japan's consumer finance companies came under market pressure on Wednesday due to concern about the outlook for the sector, which has been battered by interest rate refunds, a sharp government-mandated cut in rates, a restriction on borrowing and rising non-performing loans. Aiful (8515.T) and Takefuji (8564.T), which are not part of banking groups, have been particularly affected by the negative sentiment.
WALL STREET JOURNAL (www.wsj.com)
-- After decades of silence, Japan's big institutional shareholders are finally telling company directors to shape up, putting pressure on Japanese companies to improve their corporate governance.
-- Lee Kun-hee, who resigned as chairman of Samsung Group [SAGR.UL] following his indictment on charges of tax evasion and breach of trust, is retiring after 42 years at the company; Lee, 66 years old and one of the country's most powerful figures, remains officially employed by Samsung Electronics (005930.KS) although he stepped down as chairman and chief executive in April.
