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Activist shareholder proposals to hit record levels in Japan

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A Tokyo Stock Exchange campaign to boost valuations after the Japanese market recently hit a thirty-year high, is set to embolden activist hedge fund investors, with a record level of shareholder proposals expected this year, according to a report by Bloomberg.

The report cites data from consultancy IR Japan Holdings Ltd as revealing that the number of proposals submitted for this year’s shareholder meetings is up about 60% from the same time last year and already stands at 75% of last-year’s record high of 58 proposals.

And according to several activists including Aya Murakami, the daughter of famous local shareholder activist Yoshiaki Murakami, and Oasis Management Co’s Seth Fischer, the Tokyo bourse’s latest campaign to get executives to improve long-depressed valuations is boosting their own efforts. The stock exchange in January announced that it will encourage companies that trade below book value to disclose plans to boost their share prices.

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