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Business

Listed Japan dislikes how investor watchdog looks over its shoulder

Government moves to shine spotlight on shareholder service provider

TOKYO -- Japan's Financial Services Agency this year will begin encouraging large-lot investors to disclose how they voted on each proposal at annual shareholders meetings and the reasoning behind their votes.

The agency is trying to get a handle on the role played by proxy voting services that offer big investors recommendations on how to vote. Listed companies are not always happy with these recommendations.

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