ICJ, TSE and Broadridge launch digital vote execution service
31 March 2023 Japan
Image: Aliaksandr_Marko/stock.adobe.com
A joint venture between Investor Communications Japan (ICJ), Broadridge and the Tokyo Stock Exchange (TSE) will see the launch of a new digital vote execution service that aims to accelerate end-to-end automation of proxy voting to Japanese issuers.
The service expansion is designed to increase voting participation by international investors and to drive improvements in corporate governance practices in the Japanese market.
Therefore, participating listed companies will be able to obtain greater transparency of investor voting intentions, the firms say, and reduce risk and complexity for local sub-custodian operations.
ICJ President Shigeo Imakiire comments: “We continue to use our global expertise to ensure the ICJ platform provides solutions to improve the proxy voting lifecycle for corporate governance events.
“Japanese issuers participating in ICJ are providing institutional investors with faster access to meeting materials, expanded voting deadlines and accelerated voting capability.”
Demi Derem, managing director of international solutions banks, brokers and dealers at Broadridge Financial Solutions, adds: “This service evolution means all international investors and local sub-custodians will benefit from its innovative and digitised e-voting service, driving efficiency and delivering greater transparency to both issuers and investors.
“ICJ has significantly improved corporate governance practices in Japan since its inception in 2004 and this new service offering is the latest example.”
Yasuyuki Konuma, executive vice president at Tokyo Stock Exchange, says: “This new service should further strengthen the dialogue between shareholders and listed companies, as well as improve operational efficiency for all parties involved.
“We believe digital transformation in capital markets will improve productivity and promote growth in Japan.”
The service expansion is designed to increase voting participation by international investors and to drive improvements in corporate governance practices in the Japanese market.
Therefore, participating listed companies will be able to obtain greater transparency of investor voting intentions, the firms say, and reduce risk and complexity for local sub-custodian operations.
ICJ President Shigeo Imakiire comments: “We continue to use our global expertise to ensure the ICJ platform provides solutions to improve the proxy voting lifecycle for corporate governance events.
“Japanese issuers participating in ICJ are providing institutional investors with faster access to meeting materials, expanded voting deadlines and accelerated voting capability.”
Demi Derem, managing director of international solutions banks, brokers and dealers at Broadridge Financial Solutions, adds: “This service evolution means all international investors and local sub-custodians will benefit from its innovative and digitised e-voting service, driving efficiency and delivering greater transparency to both issuers and investors.
“ICJ has significantly improved corporate governance practices in Japan since its inception in 2004 and this new service offering is the latest example.”
Yasuyuki Konuma, executive vice president at Tokyo Stock Exchange, says: “This new service should further strengthen the dialogue between shareholders and listed companies, as well as improve operational efficiency for all parties involved.
“We believe digital transformation in capital markets will improve productivity and promote growth in Japan.”
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