Percent: Business Years and Proposals Voting

percent: A total of 696 or 29.6 percent of firms whose business years ended in March hosted the meetings on Thursday, down from 32.2 percent from last year, according to the Tokyo Stock Exchange, according to The Japan Times. The peak occurred in 1995 when 96.2 percent of all listed firms held the meetings at a time when companies would deliberately stack them to lessen the risk of corporate racketeers showing up to disrupt the proceedings. Companies are also facing higher pressure to better communicate with shareholders because asset management firms have started scrutinizing proposals and voting more closely to protect their investors' interests. The government and the Tokyo Stock Exchange have pushed for improved corporate governance, including promoting dialogue between companies and investors, to attract foreign investors to the nation's equity markets. An investor with Fujifilm Holdings Corp., where improper accounting practices at subsidiaries in Australia and New Zealand recently came to light, said he hoped the company could rebound and prop up the share price. Amid such calls, companies are increasingly facing pressure to do away with for-show meetings, where submitted proposals are approved without serious debate. (news.financializer.com). As reported in the news.