Yoshihiko Miyauchi, who ran Orix Corp. for more than 30 years, says Japan must discriminate against short-term shareholders.

The 79-year-old says the nation should allow listed firms to strip voting rights from institutions that have not held shares for a certain time. He suggests a period of about three years, an approach which would be unprecedented in global developed equity markets.

Miyauchi co-founded the $19.3 billion financial group in 1964 and is now its senior chairman.