October 28, 2015

US Proxy Advisers to Tighten Outside Director Policies in Japan

TOKYO — Two American proxy advisory firms are toughening benchmark guidelines on outside directors in Japan, aiming to push for more qualified appointees. Institutional Shareholder Services proposed on Monday changes to benchmark policies it uses to advise clients. Its 2016 guidelines for Japan “would result in negative recommendations against top executive(s) where the board, following the shareholder meeting, will not include at least two outside directors.”

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