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New JPX CEO tells companies to seek 'dialogue' with investors

Yamaji raises alarm over number of stocks trading below book value

Japan Exchange Group CEO Hiromi Yamaji said he wants companies to think beyond share buybacks and increased dividends. (Photo by Satoko Kawasaki)

TOKYO -- Japan Exchange Group wants to see all publicly traded companies take a close look at their price-to-book ratios and engage in "constructive dialogue" with investors, new CEO Hiromi Yamaji recently told Nikkei and other news outlets.

Roughly 3,300 companies listed on the Tokyo Stock Exchange's Prime and Standard markets "should analyze their PBRs at board meetings and create plans to improve them," said Yamaji, who took the post on April 1.

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