Pay Attention to the Extraordinary Shareholders’ Meeting of Takeda Pharmaceutical 

There shall be an extraordinary shareholders meeting of Takeda Pharmaceutical on December 5 and its agenda is about the firms acquisition of Shire. As commented 
in the last paragraph of my essay we are very interested in whether Japanese and non-Japanese institutional shareholders will favor this action , while Japanese instituitional investors have 31% of the firms share and non-Japanese have 35 %.

An UK based fund management company challenges inexplicable shareholdings of a Japanese broadcasting giant Masatoshi Yasuda

An UK based fund management company, Asset Value Investors (AVI), will submit their proposal at the 91st Annual Meeting on June 28th, which challenges inexplicable and, from their point of view, rather enigmatic shareholdings of a broadcasting giant, TBS Holdings (TBS). I appreciate AVI’s action because it may crack a chink to the enigmatic wall (strategic shareholdings and cross-shareholdings) with which Japanese companies are encircled in a field of nonperforming capital.

A current movement on Japan’s Corporate Governance Code Masatoshi Yasuda

On March 13th, Council of Experts Concerning the Follow-up of Japan’s Stewardship Code and Japan’s Corporate Governance Code under the Financial Services Agency finally announced draft revisions of the Japan’s Corporate Governance Code and draft Guidelines for Investors and Company Engagement after long discussions among the experts as well as taking up opinions in public from those who have been concerned on these issues since the commencement of the Council on August 7th in 2015. The FSA now have opened public comment on the Revisions of JCGC to which we, ICGJ, will contribute our opinions. The FSA will close it on April 29th with the hope of settling it all by June.


The Institute of Corporate Governance,Japan


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