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Stock impact report

Tokyo Stock Exchange CEO says talks between firms and investors key to governance [Yahoo! Finance]

JAPAN EXCH GRP UNSP/ADR (JPXGY) 
NASDAQ:AMEX Investor Relations: jpx.co.jp/english/corporate/investor-relations
Company Research Source: Yahoo! Finance
"The real power to bring about change lies with investors and shareholders," Hiromi Yamaji, chief executive officer of Japan Exchange group, which operates the Tokyo Stock Exchange, told a press briefing in Tokyo. The exchange's efforts to encourage companies to improve their governance practices and corporate value have boosted domestic equities. The Nikkei share average crossed a 34-year high in February this year. But Yamaji said mandating companies change their management practices could be counterproductive as it can provoke a backlash. "Reform isn't sustainable unless companies take voluntary action," Yamaji said. In January this year, the exchange began publishing a list of companies that had disclosed plans to improve their capital allocation and corporate value, which was seen as a move to name and shame those that failed to disclose such plans. At the end of September, 80% of companies on the Tokyo Stock Exchange's prime market had submitted such plans. From nex Show less Read more
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