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Electronic Voting Platform, etc.

Institutional Investor Participation

In the June 2021 general meetings of companies participating in the electronic voting platform (908 general meetings), the average ratio of voting rights held by platform-participating shareholders to the total number of voting rights was approximately 38.4%. In some companies, the percentage of voting rights held was approximately 80% of the total number of voting rights.

As for foreign institutional investors, the average ratio of voting rights held by platform-participating shareholders to the total number of voting rights held by foreign shareholders is approximately 82.3%. As for the approximately 17.7% not covered by the platform, most of them are considered to be foreign shareholders who have no intention of exercising their voting rights, and the participating companies have come to recognize that “the voting rights of foreign shareholders are exercised almost exclusively via the platform.”

With regard to domestic institutional investors, in addition to investors who give instructions directly on the platform, managed trust banks also exercise their voting rights on the platform through proxy input. As a result, most of the trust account names that appear near the top of the shareholder registers exercise their voting rights via the platform.

 

Share of TSE Listed Companies Participating in the Platform

Overall TSE Market (as of Mar. 31, 2022)

of which, Prime Market (as of Apr. 4, 2022)

(note)
  • ･99 Standard Market companies and 24 Growth Market companies participated.
 

Valuation of the Issuing Companies

In a survey of the platform's participating issuing companies, 17.7% were "very satisfied" and 76.7% were "satisfied" with the overall service, indicating that most issuing companies are satisfied with the service. We believe that the platform's original function of delivering institutional investors' votes as early as possible, as well as our unique provision of information, led to this high evaluation.

At the same time, many of the participating issuing companies requested that the number of participants, including issuing companies, institutional investors, and nominal shareholders, be further expanded and that the institutional and other environments be improved to achieve this. Similar requests were also received from institutional investors.

Valuation of the Issuing Companies