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Business trends

Once-mum Japan shareholders crank up pressure on management

Record 15% of businesses report substantial investor opposition to proposals

TOKYO -- Shareholders in Japan are growing more willing to vote against company proposals at general meetings as they hold management responsible for bad results or poor governance.

Out of 2,248 companies that reported voting results for June meetings by July 2, 332, or a record 14.8%, had at least one proposal with more than 20% of voters opposed based on shares held, including abstentions, according to investor relations consulting firm IR Japan. This is 39 more than in 2018, for a 2.6-percentage-point increase.

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