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Business trends

Japan's all-male boards face rejection by foreign investors

Goldman and others prepare to vote against personnel moves that exclude women

Among 400 of Japan's leading publicly traded companies, more than a third have no female directors. (Photo by Nozomu Ogawa)

TOKYO -- Starting this year, U.K.-based investment management firm Legal & General Investment Management will vote against all Topix 100 companies in Japan that do not have at least one woman representative on their board.

Goldman Sachs Asset Management, meanwhile, will oppose candidates for a company's nominating committee or top executives if its board lacks at least one female member.

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