Tipping the Scales: The Evolution of Shareholder Rights in Japan

Left to right: Kenneth Altman, Marc Goldstein, Sarah Lubman, Hajime Matsuura.

Shareholder activism is taking hold in Japan, and while the goal of full shareholder-driven capitalism still remains elusive, investors and corporate boards alike recognize a growing trend toward greater accountability and transparency. Some recently publicized efforts by domestic and foreign activist investors to shift the balance toward shareholders have been thwarted by Japan’s courts and corporate boards, yet there are more instances where investor demands such as increasing dividends and adding outside directors are being met. Furthermore, as individual investing has taken root, Japan’s media and public opinion look more favorably on activist investors. Our panel of experts discuss how shareholder activism and the surrounding legal and regulatory framework have evolved in Japan, how Japan’s corporate boards are responding, and the degree to which public perception toward activism is beginning to change.

Panelists:
Kenneth Altman, President, The Altman Group
Marc Goldstein, RiskMetrics Group Governance Research Department
Sarah Lubman, Director, Brunswick Group LLC

Moderator:
Hajime Matsuura, U.S. Correspondent, NIKKEI

Agenda
12-12:30 pm Registration & reception
12:30-1 Luncheon
1-2:30 Panel discussion

Admission: Corporate members are entitled to a designated number of free admissions to this event, based on their company’s current membership level. These reservations must be made at least 48 hours prior to the event. Additional corporate registrants and Japan Society individual members at the Patron Circle level and above pay the discounted corporate member rate of $45 for lunch and lecture, $10 for lecture only. Nonmember admission: $65 for lunch and lecture, $15 lecture only. The academic and government admission rate is $30 for the luncheon and $10 for lecture only. When payment is required, prepayment must be made, or registration secured, with a credit card. All registrations and cancellations must be made at least 48 hours prior to the event. Substitutions are welcome.

To register, please send email to [email protected].

For information only, please contact the Corporate Program at 212-715-1208.