Investor Communications Japan (ICJ), a joint venture by Broadridge and the Tokyo Stock Exchange (TSE), has announced that the number of share-issuing companies on its electronic proxy voting platform has exceeded 1,700 listings — an increase of 499 companies since June 2021.
As of June 2022, over 1,600 companies listed on the prime market participate in the platform, along with more than 100 companies listed on the standard market and over 20 companies from the growth market.
In addition, more than 1,200 of all companies listed on the TSE that held general meetings of shareholders participated in the platform.
According to Broadridge, the ICJ platform digitises the processes of general shareholders meetings to streamline operations and contribute to the competitiveness of Japan’s capital markets, which aids listed companies' engagement before, during and after shareholder meetings.
Speaking on the announcement, Shigeo Imakirre, ICJ president, says: “Increasing numbers of listed companies and institutional investors are seeking to ensure sufficient time to exercise voting rights based on constructive dialogue and the platform better enables this process.
“ICJ will continue working to strengthen the competitiveness of Japan’s capital markets and advance corporate governance through the digitalisation of general shareholder meeting processes.”
Demi Derem, managing director of international investor communication solutions at Broadridge, comments: “Broadridge is proud to support the ongoing growth of electronic proxy voting in Japan, by providing digital technology solutions to benefit issuers and investors and help modernise the industry.
“Through our collaboration in the Japan market, we enable greater issuer and shareholder participation, market wide transparency, and set the standard for proxy communications and voting.”
