Japan's shareholder resolutions are off target

Proposals to raise incentive pay could be better received -- and more effective

Michael Allen

July 27, 2023 05:00 JST

Shareholders arrive for Toyota Motor's annual meeting in June: A record 90 companies held votes on shareholder proposals during this year's annual meeting season. (Photo by Kazumi Saito)

Michael Allen is representative director of Azabu Research, an independent research company in Tokyo focused on turnaround situations in the Japanese stock market. He was previously an analyst with Jefferies.

This year's annual stockholder meeting season in Japan saw a record 90 companies face votes on independent shareholder proposals, up from 70 last year.