Nanahoshi Management issued the “Japan Shareholder Proposals Report 2023”

Summary of all resolutions proposed by shareholders in June 2023 in Japan

TOKYO & LONDON–(BUSINESS WIRE)–#activism–Nanahoshi Management Ltd., a dedicated Japanese shareholder activist, and Nanahoshi Management UK Ltd., a shareholder-activism outsourcing service provider (collectively, “we”) today announced the issuance of “Japan Shareholder Proposals Report 2023”.

We acquired 385 resolutions proposed by shareholders at the 90 Annual General Meetings in June 2023 and intensively analysed the shareholder proposals in Japan. We are happy to share the Report with those interested in shareholder activism in Japan, particularly in the shareholder-activism outsourcing service.

Download the Report

Report Highlights:

• Shareholder proposals gaining ≥50% of votes in favour reached 21 resolutions
• Approved shareholder proposals other than elections of candidates increased to three resolutions (read more about the 3 resolutions in Business Wire)
• The target indicator of proposals requesting the distribution of surplus (dividends) slightly shifts from payout ratio to dividend on equity (DPS divided by BVPS)
• Climate-related proposals accounted for 14 resolutions, which is doubled. The transition plan proposal proposed by Kyoto City gained 36.4% votes in favour marking a record high in the climate-related proposals space

Contents of the Report:

Introduction

– The aim and scope of this Report

– Definition and Abbreviations

Summary

– 2023 shareholder proposals in a nutshell

– Resolutions with top votes in favour list

Ranking

– Distribution of surplus (Dividend)

– Share buyback

– Other distribution of surplus-related proposals

– Climate-related proposals

– Rest of the shareholder proposals

Appendices and Glossary

– Calculation of votes in favour percentage

– Calculation of adjusted % of votes in favour

– About Nanahoshi Management

– Description of raw data available for request

– Disclaimer

About us:

Nanahoshi Management Ltd. is owned/operated by Satoru Matsuhashi, CFA, CESGA. The company focuses on ESG issues and encourages management to maximise their shareholders’ value through activism. For more information on Nanahoshi Management Ltd., please visit https://nanahoshimgmt.com/.

The information on the ongoing shareholder activist campaign website for YSK (2812 JP Equity) is https://www.optimizeyaizu.com/english/. You can also find our proposals in the Report.

Nanahoshi Management UK Ltd. was established in the UK by Satoru to push forward with the shareholder activism business. For more information on Nanahoshi Management UK Ltd., please visit https://nanahoshimgmt.co.uk/.

Contacts

Media Contacts:

Nanahoshi Management Ltd.

media@nanahoshimgmt.com

About the shareholder-activism outsourcing service:

Nanahoshi Management UK Ltd.

service@nanahoshimgmt.co.uk