The Justice Ministry said Tuesday that companies will be temporarily allowed to provide some documents online for general shareholders meetings instead of sending them by mail, including balance sheets and income statements.
The ministry will issue an ordinance as soon as this week for the measure, which will cover the next six months. Many companies are scheduled to hold general shareholders meetings next month to discuss their fiscal 2019 earnings.
The measure is expected to save companies time as they won’t need to print and deliver the meeting documents to shareholders.
Companies are basically required to distribute such documents at least two weeks before general shareholders meetings. But amid the COVID-19 pandemic, work to prepare the documents has been delayed at many firms as workers telecommute to prevent the virus’s spread.
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