By Rachel Fixsen2021-05-10T15:57:00+01:00 Norway’s sovereign wealth fund, which invests around 8% of its equities allocation in Japan, has used an exercise by the Asian country to revise its corporate governance code to push for even more independence on Japanese company boards. Responding to consultations on revisions to the Japanese Corporate Governance Code as well as guidelines for investor and company engagement – which apply to listed firms – Norges Bank Investment Management (NBIM) said: “We welcome the recommendation in the revised code for companies listed on the prime market to appoint at least one-third of the board as independent directors.”