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- Call to Open for Public Comments on Draft Collection of Successful Case Examples as Appendix to Guidelines on Approaches to Hybrid Virtual Shareholder Meetings
Call to Open for Public Comments on Draft Collection of Successful Case Examples as Appendix to Guidelines on Approaches to Hybrid Virtual Shareholder Meetings
December 23, 2020
The Ministry of Economy, Trade and Industry (METI) will open a call for public comments on the Draft Collection of Successful Case Examples as an appendix to the Guidelines on Approaches to Hybrid Virtual Shareholder Meetings (hereinafter referred to as the “guidelines”). This draft collection is a compilation presenting case examples of leading companies that successfully conducted shareholder meetings this year, and the approaches that they employed in conducting the meetings, aiming to further encourage the implementation of hybrid virtual shareholder meetings*.
Based on the comments that METI receives from the public as well as other information, METI will formulate and publish the finalized collection.
*Note: The term “hybrid virtual shareholder meetings” refers to a form of physically-conducted shareholder meetings with attendance of board members and shareholders in which shareholders who are not physically present at the meetings are able to virtually participate over the internet or through other telecommunications.
1. Background
In February 2020, METI formulated and published the guidelines, which clearly describe approaches that companies should take in conducting hybrid virtual shareholder meetings, and in particular in addressing legal and practical challenges.
As companies utilized the guidelines in instituting measures for preventing the expansion of the novel coronavirus disease, in June 2020, nine listed companies conducted hybrid-attendance shareholder meetings and 113 listed companies conducted hybrid-participation shareholder meetings (*1).
Aiming to further encourage the implementation of hybrid virtual shareholder meetings, METI formulated a Draft Collection of Successful Case Examples as an appendix to the guidelines, taking into consideration the current situations of companies which conducted hybrid virtual shareholder meetings this year. As part of this effort, METI will open a call for public comments on the draft collection. METI also welcomes any relevant evidence or data on this topic.
The draft collection has also been a subject of discussions among members of the Study Group on Ideal Approaches to Processes Involving Shareholder Meetings in the New Era (2*) at its meeting held on December 15, 2020.
*Notes:
1: The data is based on the results of a survey conducted by Mitsubishi UFJ Trust and Banking Corporation.
2: The materials and other information of the meetings held by the Study Group on Ideal Approaches to Processes Involving Shareholders Meetings in the New Era have been released on the webpage here (in Japanese)
2. How to submit public comments and provide related information
Please submit your comments on the details of Appendix 1 (Draft Collection of Successful Case Examples as an appendix to the Guidelines on Approaches to Hybrid Virtual Shareholder Meetings).
Closing date of submission: 12:00 noon, January 22 (Fri.), 2021
To submit comments: Please send your comments or related information via email or postal mail (see Appendix 2).
3. Future schedule
Based on the public comments and information that METI receives, METI will publish the finalized collection around the end of January 2021.
Related material
- Appendix 1: Draft Collection of Successful Case Examples as an appendix to the Guidelines on Approaches to Hybrid Virtual Shareholder Meetings (in Japanese) (PDF:1,407KB)
- Appendix 2: Call for public comments (in Japanese) (PDF:343KB)
- Reference: Guidelines on Approaches to Hybrid Virtual Shareholder Meetings (in Japanese) (PDF:1,166KB)
Division in Charge
Corporate Accounting, Disclosure and CSR Policy Office, Economic and Industrial Policy Bureau
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