In June 2025, Japan Records 110+ Shareholder Proposals Amid Corporate Governance Code Anniversary and TSE Influence

June 2025 marks the 10th anniversary of Japan's adoption of the Corporate Governance Code, which established rules for shareholder rights and corporate disclosures. This milestone coincides with a record number of shareholder proposals submitted to Japanese companies during the June shareholder meeting season. More than 110 companies received shareholder proposals, the highest number on record. The increase is attributed in part to heightened scrutiny over corporate scandals and poor business performance. Additionally, the Tokyo Stock Exchange's emphasis on management focusing on stock prices appears to have influenced this trend toward more active shareholder engagement.