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Tokyo Stock Exchange sees progress in governance reform

EditorEmilio Ghigini
Published 2024/01/15, 13:00
© Reuters.

TOKYO - The Tokyo Stock Exchange today unveiled a compliance list that shows a marked progress in its ongoing governance reform efforts aimed at enhancing capital efficiency and investor returns. Since the introduction of the reform in March 2023, nearly half of the companies listed in the prime section are pursuing governance enhancements and shareholder value through capital efficiency improvements. This includes approximately 40% of the companies that have made their improvement strategies public, and an additional 9% that are considering disclosing their plans.

Witnessing its highest levels in over three decades, the exchange has pledged to provide monthly updates to foster complete adherence to the reforms. The focus remains on bolstering long-term valuation without imposing a firm deadline for compliance.

Despite the progress, leading firms such as Toyota Motor (NYSE:TM) and SoftBank (TYO:9984) Group are conspicuously absent from this roster. These companies have yet to announce their participation in the initiative. The exchange continues to encourage all listed entities to join the reform movement to further improve corporate governance standards.

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