A year ago, executives at publicly traded companies defeated all 85 proposals put forward at general shareholders' meetings by investors seeking higher returns. Shareholders are going after the managers themselves this year.
As Japan's more than 1,500 publicly traded companies hold annual meetings this week, U.S. proxy adviser Glass Lewis & Co. said the number of investor motions calling for change rose by 16 percent to 99.
Warren Lichtenstein's Steel Partners led a shareholder revolt last month that ousted the chief executive officer and six directors of wigmaker Aderans Holdings Co.