Summary of June 2024 Annual General Shareholder Meeting Season Shareholder Proposals -
- While the total number of shareholder proposals is comparable to the June 2023 general meeting season, the number of companies...more
11/7/2024
/ Corporate Governance ,
Corporate Misconduct ,
Enforcement ,
Environmental Policies ,
Environmental Social & Governance (ESG) ,
Foreign Investment ,
General Meetings ,
Investors ,
Japan ,
Proxy Season ,
Proxy Voting ,
Publicly-Traded Companies ,
Shareholder Proposals ,
Shareholders
A perfect storm of volatile market conditions and investor demands is brewing in Japan, fostering an environment ripe for increased shareholder activism in 2025 -
Global shareholder activism surged in the first half of...more
Stronger stock market performance bodes well for exit conditions in Japan’s rapidly maturing PE space -
Interested observers have long anticipated the “arrival” of Japan’s private equity market. As the world’s...more
6/3/2024
/ Acquisitions ,
Capital Markets ,
Economic Growth ,
Global Economy ,
Initial Public Offering (IPO) ,
Investment ,
Investors ,
Japan ,
Mergers ,
Private Equity ,
Stock Markets
The Number of Shareholder Proposals Made by Activist Shareholders, Votes Against Management Proposals and Listed Companies Facing Shareholder Proposals Each Continue to Trend Upward in Japan -
During the June 2023 annual...more
12/5/2023
/ Board of Directors ,
Corporate Governance ,
Diversity ,
Environmental Social & Governance (ESG) ,
Investors ,
Japan ,
Popular ,
Proxy Season ,
Publicly-Traded Companies ,
Shareholder Activism ,
Shareholder Proposals
M&A in Japan has remained steady since the outlier spike in activity in Q4 2021, with that momentum continuing in the first months of this year. In Q1 2023, there were 196 deals, almost exactly matching the 192 total in the...more
The number of shareholder proposals made by activist shareholders, votes against management proposals and the number of publicly listed companies facing shareholder proposal continues its upward trend....more
12/27/2022
/ Corporate Counsel ,
Corporate Governance ,
Environmental Social & Governance (ESG) ,
Foreign Investment ,
General Meetings ,
Investors ,
Japan ,
Proxy Season ,
Proxy Voting ,
Publicly-Traded Companies ,
Shareholder Activism ,
Shareholder Proposals ,
Shareholders
Ambitious decarbonization targets and high investment returns are drawing interest from both local and international buyers -
M&A in Japan’s energy and utilities sectors has reached a new peak in recent years, with 24 deals...more
5/6/2022
/ Acquisitions ,
Buyers ,
Energy Sector ,
EU ,
Global Dealmaking ,
Infrastructure Financing ,
Investment ,
Investors ,
Japan ,
Mergers ,
Popular ,
Renewable Energy
Japan continues to tighten foreign direct investment reviews but also offers a prior notification exemption -
Japan's Ministry of Finance (MOF) and its ministries with jurisdiction over the target entity's business review...more
Attitudes are shifting, thanks to changes in corporate governance -
Japan has long resisted unsolicited takeovers. Despite the prevalence of such transactions in other large M&A markets such as the US and in Europe, never...more
In 2020, Japan tightened foreign direct investment review but also introduced a prior notification exemption scheme -
Japan's Ministry of Finance (MOF), and its ministries with jurisdiction over the target entity's...more
While balance sheet proposals saw a slight downturn, COVID-19 and FEFTA appear not to have dampened shareholders' desire to effect change via AGM proposals....more
8/1/2020
/ Activist Investors ,
Annual Meeting ,
Coronavirus/COVID-19 ,
Environmental Social & Governance (ESG) ,
FEFTA ,
General Meetings ,
Japan ,
Popular ,
Proxy Season ,
Publicly-Traded Companies ,
Shareholder Proposals ,
Shareholder Votes ,
Shareholders
In response to the challenges arising from the novel coronavirus ("COVID-19") pandemic, the Japanese Government has released the Cabinet Decision entitled "Emergency Economic Measures To Cope With COVID-19" (issued on 7 April...more
5/7/2020
/ Borrowers ,
Coronavirus/COVID-19 ,
Eligibility ,
Federal Grants ,
Financial Assistance Policies ,
Food Manufacturers ,
Japan ,
Midsize and Large Business Loans ,
Relief Measures ,
Small and Medium-Sized Enterprises (SMEs) ,
State of Emergency ,
Tax Relief
Japan expanded the scope of industries subject to prior notification for Inward Direct Investment in 2019 -
Under the Foreign Exchange and Foreign Trade Act (FEFTA), the Ministry of Finance (MOF) and the relevant...more
1/14/2020
/ Amended Rules ,
Artificial Intelligence ,
Beneficial Owner ,
FEFTA ,
Foreign Acquisitions ,
Foreign Direct Investment ,
Foreign Investment ,
Inbound Investments ,
Japan ,
Mergers ,
METI ,
Ministry of Finance ,
National Security ,
National Security Review Proceedings ,
Notice Requirements ,
Technology Sector ,
Telecommunications
Japan's Ministry of Economy, Trade and Industry completely revised the 2007 MBO guidelines on June 28, 2019. The new guidelines, now termed "Fair M&A Guidelines," include within their scope acquisitions by controlling...more
10/3/2019
/ Acquisitions ,
Board of Directors ,
Buyers ,
Controlling Stockholders ,
Fairness Hearings ,
Fairness Standard ,
Foreign Investment ,
Japan ,
Mergers ,
METI ,
New Guidance ,
Private Equity ,
Purchase Price ,
Special Committees ,
Valuation Experts
Another record breaking year for shareholder proposals, including significant support for activists' and other dissident proposals -
The number of shareholder proposals made by activist shareholders, votes against...more
9/14/2019
/ Corporate Governance ,
Director Nominations ,
Executive Compensation ,
Institutional Investors ,
Japan ,
Proxy Season ,
Proxy Voting ,
Publicly-Traded Companies ,
Share Buybacks ,
Shareholder Activism ,
Shareholder Distributions ,
Shareholder Proposals ,
Stock Repurchases
On May 27, 2019, the Ministry of Economy, Trade and Industry of Japan (METI) expanded the scope of the industries for which submission of a prior notification is required for foreign direct investment. This recent revision of...more
6/27/2019
/ Cybersecurity ,
Emerging Technology Companies ,
Foreign Direct Investment ,
Foreign Investment ,
Japan ,
METI ,
National Security ,
Notification Requirements ,
Popular ,
Public Safety ,
Software ,
Technology Sector ,
Telecommunications