Shareholder Proposals Related Advisory

Statements regarding collective engagement are included in the revised Japanese Stewardship Code (2017), and also the revised code asked institutional investors to disclose votes on individual agenda on shareholders’ meetings. Therefore, rational shareholder proposals start to gain investors’ recognition as acceptable, and hence increasing number of shareholder proposals is expected to be submitted. We identify shareholders and analyze the shareholders’ agendas, and we will advise your firm on its strategy planning dealing with shareholder proposals, even in normal times.

IR Japan’s Shareholder Proposals Related Advisory

After confirming the contents of shareholder proposals, we develop its strategy planning. Also, we advise on engagement with shareholders behind the scenes.
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If shareholder proposals are not withdrawn, proxy fights are expected to take place.
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Our Achievements (partial)

  • Company A (Market Cap >¥1trillion)
    Several individual shareholders’ 2 proposals (including amendment of articles of incorporation), the company conducted engagement with other shareholders, and these were rejected on AGM
  • Company B (Market Cap >¥1trillion)
    Amendment of articles of incorporation proposed by individual shareholder, the company conducted engagement with other shareholders, and this was rejected on AGM
  • Company C (Market Cap >¥50billion)
    Engagement with a company who have bought large amount of shares behind the scenes, and prevented it from buying more shares
  • Company D (Market Cap >¥10billion)
    Engagement with a owner of the company submitting its proposals, leading to its withdrawal
  • Company E (Market Cap <¥10billion)
    Major shareholder voted against reelection of directors, we advise on AGM leading to the management proposals were approved
  • Company F (Market Cap >¥10billion)
    Major shareholder submitted reelection of all directors, the company engaged with individual shareholders to collect proxies, leading to reject of shareholder proposals