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The Star
2 days ago
- Automotive
- The Star
Corporate Japan shareholders show more clout
An electronic stock board showing the Topix Index displayed inside the Kabuto One building in Tokyo, Japan, on April 3, 2025. - Bloomberg TOKYO: A record number of Japanese companies saw shareholder proposals pass at their annual meetings this year in a sign that investors are exerting more influence in the market. While shareholders in general still support company management, the notable break from their passive stance is seen as a boon for funds looking to invest in Japan. Activist investors have been inundating companies with an unprecedented number of proposals at meetings, calling for action such as the disposal of real estate, changes in strategy and stock buybacks. Seven companies saw shareholder proposals pass this year, including board appointments, according to Mitsubishi UFJ Trust & Banking Corp. That's the highest since the bank began compiling the data almost three decades ago. Although a higher number of overall proposals may have helped lift the tally, the increase showed that proposals are facing less opposition from investors who may have been reluctant to confront management. This comes as Japanese firms face pressure from the Tokyo Stock Exchange and activists to boost their value and improve shareholder returns. 'Shareholder pressure is likely to increase given there is still much room left for improvement' in capital efficiency, and that will be good news for the market, said Naoki Fujiwara, senior fund manager at Shinkin Asset Management. 'The acceptance of activists' proposals is a significant change from the past.' Not only are more investors voting in favour of shareholder proposals, but they're also rejecting company pitches. A total of 30 company proposals, mostly the nomination of board directors, were voted down, up from six the previous year, according to Sumitomo Mitsui Trust Bank Ltd. At Tokyo Cosmos Electric Co, all five board candidates nominated by the auto parts maker were struck down, resulting in the entire board, including its chief executive officer (CEO), being replaced by those proposed by its top holders. Shareholders also ousted the CEO of chemicals maker Taiyo Holdings Co, suggesting investors are scrutinising management more than ever. The percentage of companies with more than an 80% CEO approval rating fell by 1.1 percentage point from the previous year, according to data compiled by Goldman Sachs Group Inc. Companies are losing their loyal shareholder base as cross-shareholdings unwind, leaving a vacuum for activists and other investors to step in. Not all high-profile cases turned out a win for activists or vocal investors. At Fuji Media Holdings Inc, a TV broadcaster facing a sex scandal, shareholders voted against all 12 candidates proposed by Dalton Investments. Hisashi Arakawa, director and the head of equities at abrdn Japan Ltd, said active engagement between shareholders and management is likely to continue. 'We've seen companies pro-actively engage with us ahead of shareholder meetings', and whether these proposals pass is a separate matter, he said. — Bloomberg
Business Recorder
25-06-2025
- Business
- Business Recorder
Japan's Nikkei slips as US futures fall, investors eye Israel-Iran ceasefire
TOKYO: Japan's Nikkei share average inched lower on Wednesday, weighed down by declines in US stock futures, as investors awaited clarity on whether a fragile ceasefire between Israel and Iran would hold. The Nikkei was down 0.1% at 38,750.47 by the midday break, after flitting between modest gains and losses. The broader Topix fell 0.34% to 2,771.93. 'The market had already factored in the gains of US stocks last night subsequent to a ceasefire announcement,' said Naoki Fujiwara, senior fund manager at Shinkin Asset Management. The Nikkei snapped a three-day losing streak to end higher on Tuesday after US President Donald Trump announced the ceasefire agreement late Monday. The truce appeared fragile: Both Israel and Iran took hours to acknowledge they had accepted the ceasefire and accused each other of violating it. Still, investors viewed the ceasefire rhetoric as a sign of de-escalating tensions, pushing the US stocks up more than 1% overnight. But S&P and Nasdaq futures slipped during Asian hours, which the market interpreted as a sign of potential declines on Wall Street later in the day, said Kentaro Hayashi, senior strategist at Daiwa Securities. 'Investor sentiment was also weighed by the stability of Japanese politics ahead of the upper house election (next month), and the development of ongoing trade talks. If the US Federal Reserve cuts interest rates, that could lift the yen higher,' he added. Technology investor SoftBank Group fell 3.18% to drag the Nikkei the most. Medical equipment maker Olympus tanked 10.99%. Shares of Toyota Motor lost 1.41%. Chip-related stocks advanced, tracking a 3.8% gain in the US Philadelphia Semiconductor Index. Tokyo Electron climbed 2.34% and Advantest added 1.31%. Of more than 1,600 stocks trading on the Tokyo Stock Exchange's prime market, 27% rose and 68% dropped, while 4% traded flat.
Yomiuri Shimbun
25-06-2025
- Business
- Yomiuri Shimbun
Japan's Nikkei Stock Average Slips as US Futures Fall, Investors Eye Israel-Iran Ceasefire
TOKYO, June 25 (Reuters) – Japan's Nikkei share average inched lower on Wednesday, weighed down by declines in U.S. stock futures, as investors awaited clarity on whether a fragile ceasefire between Israel and Iran would hold. The Nikkei .N225 was down 0.1% at 38,750.47 by the midday break, after flitting between modest gains and losses. The broader Topix .TOPX fell 0.34% to 2,771.93. 'The market had already factored in the gains of U.S. stocks last night subsequent to a ceasefire announcement,' said Naoki Fujiwara, senior fund manager at Shinkin Asset Management. The Nikkei snapped a three-day losing streak to end higher on Tuesday after U.S. President Donald Trump announced the ceasefire agreement late Monday.
Time of India
13-06-2025
- Business
- Time of India
Japan's Nikkei falls on geopolitical worries as Israel attacks Iran
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Japan's Nikkei share average fell on Friday as investors sold riskier assets after Israel launched widescale strikes against Iran, stoking worries about geopolitical Nikkei fell 0.89% to close at 37,834.25, mirroring moves in U.S. stock futures, but posted a 1.14% gain for the broader Topix fell 0.95% to 2,756.47 and gained 0.5% for the week."The market was selling stocks on caution for geopolitical risks, but the news was not driving a fire sale because investors still wanted to monitor the development of the attacks," said Naoki Fujiwara, a senior fund manager at Shinkin Asset launched strikes against Iran on Friday, saying it targeted nuclear facilities, ballistic missile factories and military commanders, and that this was the start of a prolonged operation to prevent Tehran from building an atomic equipment maker Tokyo Electron fell 4.8%, dragging the Nikkei the most. Uniqlo-brand owner Fast Retailing lost 1.61%.Exporters fell as the yen strengthened, with Toyota Motor and Nissan Motor falling 2.35% and 1.26%, sectors rose as oil prices jumped. Oil explorers jumped 2.77% to become the top performer among the Tokyo Stock Exchange's 33 industry refiners gained 1.61% and the utility sector gained 1.17%.Defense-related shares also rose, with Mitsubishi Heavy Industries and IHI rising 2%, more than 1,600 stocks trading on the TSE's prime market, 17% rose and 79% fell, with 2% trading flat.
Economic Times
13-06-2025
- Business
- Economic Times
Japan's Nikkei falls on geopolitical worries as Israel attacks Iran
Japan's Nikkei share average fell on Friday as investors sold riskier assets after Israel launched widescale strikes against Iran, stoking worries about geopolitical risks. ADVERTISEMENT The Nikkei fell 0.89% to close at 37,834.25, mirroring moves in U.S. stock futures, but posted a 1.14% gain for the week. The broader Topix fell 0.95% to 2,756.47 and gained 0.5% for the week. "The market was selling stocks on caution for geopolitical risks, but the news was not driving a fire sale because investors still wanted to monitor the development of the attacks," said Naoki Fujiwara, a senior fund manager at Shinkin Asset Management. Israel launched strikes against Iran on Friday, saying it targeted nuclear facilities, ballistic missile factories and military commanders, and that this was the start of a prolonged operation to prevent Tehran from building an atomic weapon. Chip-making equipment maker Tokyo Electron fell 4.8%, dragging the Nikkei the most. Uniqlo-brand owner Fast Retailing lost 1.61%. ADVERTISEMENT Exporters fell as the yen strengthened, with Toyota Motor and Nissan Motor falling 2.35% and 1.26%, respectively. Energy sectors rose as oil prices jumped. Oil explorers jumped 2.77% to become the top performer among the Tokyo Stock Exchange's 33 industry sub-indexes. ADVERTISEMENT Oil refiners gained 1.61% and the utility sector gained 1.17%. Defense-related shares also rose, with Mitsubishi Heavy Industries and IHI rising 2%, respectively. ADVERTISEMENT Of more than 1,600 stocks trading on the TSE's prime market, 17% rose and 79% fell, with 2% trading flat. (You can now subscribe to our ETMarkets WhatsApp channel)
