Voting in Japan

Japan’s proxy season has unique characteristics setting it apart from other countries. (See Graph 1) The concentration of over 30% of AGMs on one day (usually the last Thursday in June) is down from the 90%+ of a few years ago.

Graph 1

The overwhelming majority of Japanese companies register a record date at the end of March, and Japanese corporate law stipulates companies must hold a shareholder meeting within three months of the record date. Accordingly, most of the shareholder meetings take place in late June. (See Graph 2)

Graph 2

While the Japanese proxy environment is changing, the peak season in Japan still represents a challenge for institutional investors in charge of properly executing shareholder voting rights. ICJ is firmly committed to providing a platform that adds value to the process for both beneficial owners and issuers alike.

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