TOKYO, June 3, 2019 /PRNewswire/ -- Investor
Communications Japan (ICJ), a joint venture of Broadridge Financial
Solutions, Inc. (NYSE: BR), a global Fintech leader that
is part of the S&P 500® Index, and the Tokyo Stock Exchange
Inc. (TSE), announced today that the number of share-issuing
companies on its electronic proxy voting platform has surpassed
1,000 ahead of Japan's proxy
season starting in June.
Focused on continuing to improve corporate governance, the ICJ
platform offers enhanced communication between Japanese issuers and
global investors; a fully automated reconciliation between
registered shareholder positions and underlying beneficial owner
positions; and a voting deadline for underlying shareholders of one
calendar day prior to meeting date. Listed Japanese companies using
the platform increased substantially following its March 2006 launch and accelerated after the
implementation of the Corporate Governance Code in 2015. Adoption
has been growing by an average 17% annually for the last five
years.
"The continued adoption of electronic proxy platforms by
Japanese public companies underscores the efforts underway to
improve transparency and shareholder engagement throughout the
proxy voting life cycle," said ICJ President, Shigeo Imakiire. "Our platform leverages
Broadridge's sophisticated digital voting, record keeping and
reconciliation technologies. During this year's proxy season in
Japan, we expect to see more
companies integrate these solutions into their approach to
maintaining corporate governance standards."
The ICJ platform helps listed companies engage constructively
with institutional investors by providing the opportunity for
well-informed engagement before, during and after shareholder
meetings.
Current ICJ-participating corporate issuers represent 85% of
TSE-listed companies by market capitalization, 98% of Nikkei 225
index constituents and 89% of Japan Exchange Group (JPX)-Nikkei
Index 400 constituents. The long-term outlook for growing adoption
of electronic voting in Japan is
highly positive, in line with other major capital markets like the
U.S., where Broadridge processes over 90% of all proxy votes on its
digital platform.
"Broadridge is proud to support ICJ with innovative technology
solutions that promote greater issuer and shareholder
participation," said Broadridge's Investor Communication Solutions
President, Bob Schifellite. "This is
in line with our overall strategy of delivering leading digital
solutions that set the standard of proxy communications and
voting."
As part of its investor communication services, Broadridge is
also working across Asia Pacific
to help market participants meet new regulations such as the
updated Shareholder Rights Directive. Broadridge is building a
comprehensive solution using blockchain-based technology and
engaged with custodians, banks, brokers and market service
providers such as central securities depositories (CSDs) and stock
exchanges to meet regulatory obligations and corporate governance
standards.
About Broadridge
Broadridge Financial Solutions, Inc.
(NYSE: BR), a $4 billion global
Fintech leader and a part of the S&P 500® Index, is a leading
provider of investor communications and technology-driven solutions
to banks, broker-dealers, asset managers and corporate issuers
globally. Broadridge's investor communications, securities
processing and managed services solutions help clients reduce their
capital investments in operations infrastructure, allowing them to
increase their focus on core business activities. With over 50
years of experience, Broadridge's infrastructure underpins proxy
voting services for over 50 percent of public companies and mutual
funds globally, and processes on average more than US $5 trillion in fixed income and equity trades per
day. Broadridge employs over 10,000 full-time associates in 18
countries. For more information about Broadridge, please visit
www.broadridge.com
Investor Communications Japan
Investor Communications
Japan, Inc. (ICJ) is exclusively providing electronic proxy voting
platform services for Japanese issuers and global
institutional investors. The participants on ICJ platform are;
1,010 Japanese issuers, 6 transfer agents, 5 master trusts banks, 6
subcustody banks, 13 global custody banks and about 4,500
institutional investors worldwide. ICJ delivered 41% of all voting
shares of ICJ participating issuers in June
2018 AGM peak season. For more information of ICJ and
participating issuers, please visit www.icj-co.jp
Investors:
W. Edings Thibault
Head of Investor Relations
Broadridge Financial Solutions
+1 516-472-5129
edings.thibault@broadridge.com
Media:
Gregg
Rosenberg
Global Head of Corporate Communications
Broadridge Financial Solutions
+1
212-918-6966
gregg.rosenberg@broadridge.com
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content:http://www.prnewswire.com/news-releases/participation-in-investor-communications-japans-icj-proxy-platform-surpasses-1-000-listed-companies-ahead-of-proxy-season-300860833.html
SOURCE Broadridge Financial Solutions, Inc.