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Business trends

Record number of Japanese companies face shareholder proposals

Toyota, Mitsubishi among those under pressure over climate action in June meetings

Toyota Motor's shareholders meeting in Toyota City, Aichi prefecture in June 2022. (Photo by Yuki Nakao)

TOKYO -- Tensions at company shareholder meetings are on the rise, with a record number of listed companies in Japan receiving proposals from shareholders pressing for a wide range of reforms, at a time when institutional investors are increasingly voting in favor of such proposals.

As of the end of May, 314 proposals had been made to 82 companies, topping the previous record of 292 proposals to 77 companies in 2022, according to a survey by Mitsubishi UFJ Trust and Banking. In June, more than 2,000 companies listed on the Tokyo stock exchange will hold their annual general shareholders' meetings, as many ended their fiscal year in March.

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