Japanese Firms Pay Lip Service to TSE’s Reform Plan: Nissay
- TSE’s name-and-shame crusade has a been key draw for investors
- Nippon Life says TSE drive has changed views, more work needed
The Tokyo Stock Exchange.
Photographer: Noriko Hayashi/BloombergThis article is for subscribers only.
Nippon Life Insurance Co., one of Japan’s largest institutional investors, said that less than a third of domestic companies that had complied with the Tokyo Stock Exchange’s request for disclosure of business improvement plans had also provided detailed strategies.
The TSE’s name-and-shame campaign, launched last year and aimed at goading Japanese companies into paying more attention to shareholders, is a pillar on which many strategists had based their bullish calls on the nation’s equities.