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```htmlAccording to Golden Ten Data on May 15, Japan's Financial Services Agency is preparing to revise the Corporate Governance Code for the first time in five years. This code has long served as an important guiding framework for promoting increased corporate value at listed companies. The Financial Services Agency has already made the draft revisions available for public comment, with the comment period closing this Friday. Meanwhile, Japan's Ministry of Justice is also seeking feedback on proposed amendments to the Companies Act, with the deadline set for next week. The draft revision released in April has drawn criticism from some market participants, who argue that it places excessive focus on corporate interests. Haruna Usui, Head of ESG Strategy for Alliance Bernstein Japan, stated, "We are seeing a reversal in corporate governance reform." She noted that resistance within Japanese corporations is rising, partly because companies face growing pressure from activist investors to deliver higher returns on capital, "which could have a negative impact on the stock market." Both global and domestic investors are paying close attention to the revision of the Corporate Governance Code. Previously, there had been a widespread expectation that companies would be required to demonstrate effective use of cash holdings. However, recent discussions suggest that cash management will not become a mandatory requirement.```

This leadership change comes at a time when the newly inaugurated President Jose Antonio Kast's administration has criticized the company for its debt, budget overruns, and production challenges. The government also appointed new board members Luz Granier and Alejandro Canut (replacing Josefina Montenegro and Alejandra Wood), and will launch an external audit focusing on production issues. Expand

In the 12 months ending March 31, Air India Group reported a loss of 3.56 billion East Eight Timezone Yuan, equivalent to 2.8 billion US dollars at the current exchange rate. Singapore Airlines did not disclose the exchange rate used between East Eight Timezone Yuan and Indian Rupee for calculating the loss. Previous media reports indicated that Air India's annual loss was expected to exceed 2.12 billion US dollars.