Shareholder Engagement of Corporate Japan [Second Edition]

Creating Corporate Value Through Engagement and IR/SR Strategies in an Era of Intense Competition

This book provides essential insights, practical guidance, and key considerations for implementing IR strategies that strengthen shareholder relationships and support stock performance, alongside SR strategies to build long-term trust. It marks the first major revision in 12 years.

(IR: Investor Relations / SR: Shareholder Relations)

Table of Contents

Part 1: Introduction, Chapter 1: Introductory Statement

Tatsuya Imade
Japan Shareholder Services

This book is a sequel to Shareholder Engagement of Corporate Japan (Shojihomu), published in early 2013 (hereinafter, “the previous work”).

The previous work carried the slogan: “Transforming companies that avoid engagement into those that earn trust through it.” Since then, almost all Japanese listed companies have entered an “era of engagement” with shareholders/investors. During this period, the average stock price of Japanese companies has increased more than fourfold in roughly 12 years. This book aims to help Japanese listed companies enhance their value by leveraging engagement with capital markets and shareholders/investors. To what extent has Japan been able to gain trust in its companies and its domestic market?

The themes addressed in this book are even more multifaceted and diverse than in the previous work.

Following a pandemic that lasted over two years, a rare event in modern history, the world appears increasingly fragmented, with wars erupting in multiple regions and climate change moving in an unfavorable direction. In the United States, president who espouses “America First” has returned to power, and the era of big data and artificial intelligence (AI) has become a reality. All of these factors are deeply intertwined with industry and capital markets.

In Japan, efforts to break away from the so-called “lost 20 to 30 years” following the collapse of the bubble economy have led to the launch of corporate governance reforms by the government under the “Abenomics” strategy for Japan's revitalization. This agenda, which includes reforms of the investment chain, continues today amid the global mainstreaming of responsible investment that takes ESG into account. These reforms appear to be intended to bring about the creative destruction of the post-war Japanese corporate model, which had effectively come to an end during the “lost” period.

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