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Business trends

AllianceBernstein to vote against Japanese boards with no women

US asset manager has stakes in Morinaga, NTT and Nintendo

More than one-fifth of Japanese companies in MSCI's All Country World Index lack a female director. (Photo by Yuichiro Takagi)

TOKYO -- U.S. asset manager AllianceBernstein Holding will oppose director slates nominated by Japanese companies if none of the candidates are women, becoming one of the biggest names to join the growing movement to bring diversity to boardrooms.

AllianceBernstein, with $631 billion in assets under management, will begin enforcing this policy at next year's shareholder meetings.

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