Toshiba, McDonald booted from Japan�s �good governance� index

AFP, TOKYO: Scandal-hit Toshiba and McDonald's Japan yesterday were booted from a stock index launched to highlight firms with the best return on equity and other shareholder friendly criteria. The shuffle comes as Toshiba grapples with a crisis that exposed a pattern of top executives pressuring underlings to inflate profits by about $1.2 billion since the 2008 global financial crisis. Meanwhile, shares of McDonald's local unit were also tossed from the JPX-Nikkei 400 as it works to restore its reputation after a series of food contamination scandals, including a human tooth found in some fries. The Japan Exchange Group said yesterday that more than 40 companies were removed from the index, including Toshiba and McDonald's Japan, without giving specific reasons. The JPX-400 is "composed of companies with high appeal for investors, which meet requirements of global investment
standards," the Japan Exchange Group said in a statement.

Toshiba, McDonald booted from Japan�s �good governance� index

AFP, TOKYO: Scandal-hit Toshiba and McDonalds Japan yesterday were booted from a stock index launched to highlight firms with the best return on equity and other shareholder friendly criteria. The shuffle comes as Toshiba grapples with a crisis that exposed a pattern of top executives pressuring underlings to inflate profits by about $1.2 billion since the 2008 global financial crisis. Meanwhile, shares of McDonalds local unit were also tossed from the JPX-Nikkei 400 as it works to restore its reputation after a series of food contamination scandals, including a human tooth found in some fries. The Japan Exchange Group said yesterday that more than 40 companies were removed from the index, including Toshiba and McDonalds Japan, without giving specific reasons. The JPX-400 is composed of companies with high appeal for investors, which meet requirements of global investment standards, the Japan Exchange Group said in a statement.