June 14, 2010
Summary
◆On 31 March 2010, the Financial Services Agency (FSA) announced amendments to the Cabinet Ordinance on Disclosure of Corporate Affairs. Topics addressed the requirement that companies disclose their voting results after general shareholders’ meetings.
◆Specifically, the FSA now requires listed companies to submit an extraordinary report containing information regarding resolutions voted on at general shareholders’ meetings, as well as the number of votes cast for and against each resolution.
◆The stipulations apply to annual general shareholders’ meetings held for fiscal years ending on 31 March 2010 and beyond (from FY09, for companies which close their books in March).
＊This report updates our 1 March 2010 report on the proposed revisions to the Cabinet Ordinance (Japanese only).
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