Investors in Japan are preparing to disclose how they vote at company AGMs in a significant development for the country’s corporate governance.
The Financial Times reports that Japan’s largest investment manager, Sumi Trust, and Dai-ichi Life Insurance Company, have both revealed plans to publish reports on their voting records.
The move comes after a sustained campaign by the country’s prime minister Shinzō Abe to improve corporate governance and stewardship as a means of stimulating Japan’s economy.
The FT quotes Sumi Trust’s governance specialist Meiji Kawazoe as saying: “This [disclosure of voting] is a very significant change. There will be more incentive for companies to change themselves or they will face scrutiny from the public and financial investors.”