Review of the 2020 Japanese AGM season
Japanese proxy season is characterized by the high concentration of AGMs in June. Last year, in one day only, 21 meetings had taken place. On the other hand, it is worth to mention that Japan has a very diversified economy that stands out in the TOPIX 100 comprising 44 different sectors. Director Elections were the most contested resolutions in 2020, followed by Audit and related proposals. 2020 was also marked by the publication of the Revised Corporate Governance Code and must be highlighted that the number of signatories to the Stewardship Code has increased from 127 in 2014 to 280 last year.
As the leading global proxy solicitor, shareholder engagement firm and corporate governance advisor, Georgeson works hard to ensure that our clients understand the critical issues, trends and personalities which affect and motivate their shareholders. We hope that our report will give you greater insight into this market both in terms of the general trends and of the particular issues that have arisen during the last AGM season. Georgeson remains available to help you with any more specific queries.
For any support needed at your next general meeting, please do not hesitate to let us apply our market intelligence, which will help you avoid any possible pitfalls raised both by local developments and complex international trends.