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Third Arrow Strategies

Advancing Corporate Governance in Japan


Third Arrow Strategies is dedicated to strengthening board composition and promoting effective engagement between Japanese companies and global investors.




Engagement Advisory

Many companies and investors are not successful in engagement. This is the result of cultural, language, and other barriers.

Effective engagement benefits both companies and investors. Aligning objectives can result in value creation. 

Let us help you improve your engagement process. 

Boardroom Composition Advisory

Companies are under pressure from investors, regulators, and other stakeholders to demonstrate a thoughtful approach to board composition.

Creating a process for identifying diverse, skills-based director candidates is the first step in establishing a high-performing board.

Let us help you with your candidate search process.

Are you interested in supporting women in your organization or seeking female board candidates?  Learn more about the Japan Board Diversity Network


About the Founder

Tracy Gopal, CFA, MBA


Tracy Gopal has been passionate about Japan for three decades. She believes that progress in corporate governance is important for long-term sustainable growth and corporate value.  She founded Third Arrow Strategies after 15+ years with EY, GCA and ISS.  She has advised C-suite management teams and boards of directors on transactions (valuation, mergers, acquisitions, divestitures, and restructurings) and investors on corporate governance (proxy voting, proxy policy, stewardship, governance risk, and effective engagement).

Tracy is a proactive and collaborative problem solver who excels at educating, informing, and inspiring. She currently serves on the Executive Board of the Japan Society of Northern California (JSNC) where she is the Co-Chair of Programs, Founder/Chair of the JSNC Women's Impact Network, and a member of the Audit Committee. She is a Council Leader at the US Japan Council.

She received her MBA from Duke University, Fuqua School of Business and her BA in economics from the University of Michigan-Ann Arbor, Phi Beta Kappa. She has been a CFA Charterholder since 2002. She is fluent in Japanese and a frequent public speaker in both English and Japanese.

Tracy Gopal Professional Photo.jpg
About the founder
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