Japan's asset managers nudged the volume up another notch at shareholder meetings this year, increasingly opposing management proposals and adding momentum to a policy of attracting foreign investors initiated by slain former Prime Minister Shinzo Abe.
Nikko Asset Management, Asset Management One and others have become distinct voices in Japan's newfound activism, countering foreign criticism of asset managers' rubber-stamp voting.
The pair opposed management at a domestic firm by voting for board nominees proposed by a foreign investor, while in another high-profile case, company management canned a proposal after some asset managers supported a foreign investor's objection.