CityU will confer honorary doctoral degrees on Dr Yukio Hatoyama, Mr Koo Ming-kown, and Professor Myron S. Scholes in recognition of their significant contributions to education and the well-being of society. The award ceremony will be held in November during the University's Congregation. Dr Yukio Hatoyama, President of the East Asian Community Institute, will receive an Honorary Doctor of Laws. He was Prime Minister of Japan from September 2009 to June 2010, and the first ever Prime Minister from the Democratic Party of Japan. Mr Koo, founder of Nam Tai Electronics, Inc, will receive an Honorary Doctor of Social Science. As a philanthropic industrialist, Mr Koo has supported the development of education in Hong Kong for many years by making significant donations to the higher education sector and schools. Professor Scholes, Frank E. Buck Professor of Finance, Emeritus, at the Stanford University Graduate School of Business, will receive an Honorary Doctor of Letters. He was awarded the Nobel Prize in Economic Sciences in 1997 for his work on a new theory to value derivatives.