In an effort to encourage companies to reform their management, domestic asset management companies are tightening standards for exercising voting rights. Asset management companies manage funds collected from investors through corporate stocks, etc., and exercise their voting rights as shareholders on behalf of investors at general shareholder meetings.
Target companies are those whose ROE (return on equity) has been below 8% for three consecutive years. Nissay Asset Management has decided to object to the appointment of representative directors from June next year for companies whose PBR is less than 1x.