TOKYO : Nearly 70 per cent of Japanese firms expect an increase in proposals from activist investors, a Reuters monthly poll showed on Thursday, as the government's push for better governance adds momentum to shareholder calls for better returns.Japanese companies were typically seen as unreceptive to dem
TOKYO : Nearly 70 per cent of Japanese firms expect an increase in proposals from activist investors, a Reuters monthly poll showed on Thursday, as the government's push for better governance adds momentum to shareholder calls for better returns.
More than 340 shareholder resolutions have been submitted to about 90 listed companies for voting at annual shareholders meetings in June, when a majority of Japanese firms hold such meetings, data from trust banks have shown.Still, among 227 respondents in the poll, only three said they had received shareholder resolutions from activist investors in the last three years. The proposals included higher shareholder returns and sale of non-core assets.
Asked about what kind of stance they take toward activist shareholders, 44 per cent said they haven't decided and 38 per cent said it depends on the context of their proposals. Meanwhile, 11 per cent said they are reluctant to engage with them.
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