In today’s briefing:
- For Both the Company and Investors, Pre-Negotiation Process as SR Is Becoming Increasingly Important
For Both the Company and Investors, Pre-Negotiation Process as SR Is Becoming Increasingly Important
- Following the 2020 revision of Stewardship Code, domestic institutional investors have gradually increased their support for shareholder proposals. However, the rise in approval rates has paused in the 10% range.
- Some investors adopt voting policy that allows them to support company proposals if the company’s efforts are deemed commendable, even if numerical targets aren’t met. This makes shareholder engagement important.
- Given that conditions must align where a company has substantial foreign ownership and doesn’t implement initiatives desired by investors, the approval rate for shareholder proposals is unlikely to rise significantly.
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