美國居民不適用 XM 服務。

Japan's value push is starting to lose momentum



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>BREAKINGVIEWS-Japan's value push is starting to lose momentum</title></head><body>

The author is a Reuters Breakingviews columnist. The opinions expressed are his own. Updates to add graphic.

By Anshuman Daga

SINGAPORE, June 14 (Reuters Breakingviews) -Some early indicators suggest Japanese companies' annual shareholder meetings this month may disappoint those hoping the country can sustain its value push. A fading stock market rally adds to growing doubts.

A record 91 firms received 336 proposals from shareholders, per analysts from Mitsubishi UFJ Trust & Banking Corp. Though this counts as the third straight year of an increase in companies targeted, the number edged up by just one from 90 last year, while the tally of proposals is down from 344.

Meanwhile, after hitting an all-time high in March, the benchmark Nikkei 225 .N225 is flat over the past three months. Foreign fund managers are increasing their exposure to rebounding Chinese markets. Adding to the downbeat mood, the World Bank on Tuesday cut Japan's GDP growth forecast for 2024 to 0.7% from 0.9%, citing weak consumption and slowing exports.

Shareholders in Japan may yet prove more supportive than before of pushy owners, and more feisty in opposing company decisions and management, even if there aren't significantly more proposals. The most-watched votes will include the re-appointment of Toyota Motor 7203.T chair Akio Toyoda, who looks vulnerable to a backlash after a safety test scandal.

True, activists are waging more campaigns; the tally involving firms valued at over $15 billion has risen to nine, up from four for the entire 2023, per Goldman Sachs. But a sustained stock rally will only happen when Japanese institutional shareholders awaken en masse and demand more share buybacks, dividends and the unwinding of cross-shareholdings.

As market euphoria starts to fizzle, expectations for what emerges from the annual meetings are rising.

Follow @anshumandaga on X

CONTEXT NEWS

Most Japanese companies will hold their annual general meetings later in June.


Graphic: Shareholder proposals peak for Japan Inc https://reut.rs/3Xibgfv


Editing by Una Galani and Aditya Sriwatsav

</body></html>

免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。

所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。

本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

風險提示:您的資金存在風險。槓桿商品並不適合所有客戶。請詳細閱讀我們的風險聲明