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.

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)

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.