Tokyo bourse to publish list of firms disclosing governance improvements
26/10/2023 09:02
By Kevin Buckland
TOKYO, Oct 26 (Reuters) - The Tokyo Stock Exchange (TSE)
said on Thursday it will start publishing a list of companies
that have disclosed actions they have taken to improve corporate
governance, following the bourse's directive to increase
investor value earlier this year.
The TSE will publish the list monthly from Jan. 15 in a bid
to encourage companies to be more proactive with capital
efficiency reforms, it said in a news release.
The bourse made the request at the end of March and has been
hailed by investors as a remedy to Japan's unusually high number
of chronically undervalued stocks.
However, based on a TSE survey conducted in mid-July, close
to 70% of the companies listed on the bourse's "prime" section
had yet to take action.
Hopes for better corporate governance, particularly among
foreign investors, were instrumental in driving the Nikkei 225
share average .N225 to the highest since 1990 earlier this
year.
(Reporting by Kevin Buckland; Editing by Savio D'Souza)
((Kevin.Buckland@thomsonreuters.com;))