Investor Communications Japan (ICJ), the electronic proxy voting platform joint venture between Broadridge, the Tokyo Stock Exchange and the Japan Securities Dealers Association, has signed on the 400th issuer to the service.
Launched in 2005, ICJ allows investors in Japan and institutional shareholders globally to receive notifications of Japanese shareholder meetings and return voting decisions directly to issuers and their agents. ICJ provides straight-through-processing (STP) that improves the flow and transparency of information to shareholders and back to issuers, increasing the timeliness of materials delivery to shareholders for review from days to weeks.
Eliminating the paper processes associated with proxy voting allows for an extended voting process via Broadridges voting and recordkeeping tool ProxyEdge.
“I am thrilled that ICJ has reached 400 issuers using its service, says Atsushi Saito, president and CEO of the TSE. This is not only an important milestone for ICJ, it also highlights the growing importance of good shareholder communication to improved corporate governance, and an acknowledgment that the use of this platform provides a quick and efficient means of improving such communications. I also expect that as the ICJ service continues to grow and offer expanded services it will not only reinforce the overall attraction of Japanese securities markets but will also serve to strengthen and enhance its international competitiveness.
Ninety-six of the 100 largest listed companies in Japan use ICJ, the firm says.
“Reaching 400 issuers is a great milestone for ICJ, one which has been achieved through the hard work of its staff and the support of our partners in this venture, the TSE and JSDA, says Richard J. Daly, CEO of Broadridge Financial Solutions. ICJ is an excellent example of what can be achieved when all parties in a complicated process work together for the benefit of the key participants – in this case issuers and shareholders. Not only have service levels to the various constituents improved dramatically but costs have been reduced.”
(CG)