BESPOKE SOLUTIONS FOR RESPONSIBLE INVESTORS IN JAPAN SINCE 2007
ACTIVE OWNERSHIP
Our clients are experienced investors in Japan and they usually know how they want to fulfil their shareowner responsibilities. Our role is to help them to do that.
We work as one with our clients’ investment and ESG teams to develop bespoke solutions for responsible investors in Japan. These typically include voting, engaging with selected companies in the client’s portfolio and policy advice.
We provide two different types of active ownership solutions.
COMPLIANCE WITH JAPAN'S STEWARDSHIP CODE AND THE PRI
We design and implement solutions that allow clients to support the principles for responsible institutional investors under Japan’s Stewardship Code and to commit to the PRI.
Management Team
Toshi Oguchi
Yoshi Maeda
Mihoko Yoshida
Client Specific Solutions
Engagement services
We engage with the boards and management of clients’ portfolio companies on issues that enhance shareholder value including ESG matters.
- We agree clear, focused engagement objectives with our clients
- We seek timely, directed interaction with appropriate decision makers and influencers
- We provide comprehensive follow-ups after each meeting
- We carry our regular review calls or meetings with our clients to monitor progress
- We follow up with correspondence (in Japanese) to companies and clients (in English)
- We arrange company meetings and other logistics services to optimise the time spent by our clients in Japan
“Intelligent” online voting and voting follow up
We review client’s existing Japan corporate governance and voting policy in-depth.
- We vote based on the client’s voting policy with guidance and suggestions based on our knowledge of Japan
- We follow up (often through direct correspondence and/or meeting) with investee companies where we see governance concerns or where votes were cast against
- We arrange company meetings and other logistics services to optimise the time spent by our clients in Japan
Event driven engagement and Conflicts of interest
- We provide one off advice and implementation when a portfolio company is involved in corporate and governance events that affect shareholder value and a client wishes to address those issues but may be unable to.
- We provide voting advice when a fund manager has a conflict.
Collaborative Engagement
The Japan Engagement Consortium
The Japan Consortium has currently five clients.
Together with these clients, GO identifies a number of companies not attracting the correct value in the market. GO then engages with these companies to improve the business which ultimately leads to an increase in market value. As these companies are owned by our clients, their portfolio will benefit from the share price appreciation.
GES Japanese Stewardship Engagement
This is a service offered in partnership with Sustainalytics (formerly GES (www.gesinternational.com)). It is based on the same principles as the Japan Consortium except that it covers a pre-determined set of large cap companies.
Compliance With Japan’s Stewardship Code and the PRI
PRI Reporting Requirements
We design and implement solutions that allow clients to commit to the six principles of PRI:
- Incorporate ESG issues into investment analysis and decision-making processes.
- Be active owners and incorporate ESG issues into our ownership policies and practices.
- Seek appropriate disclosure on ESG issues by investee companies
- Promote acceptance and implementation of the Principles within the investment industry.
- Work together to enhance effectiveness in implementing PRI Principles.
- Report on activities and progress towards implementing PRI Principles.
Japanese Stewardship Code Requirements
We design and implement solutions that allow clients to support the principles for responsible institutional investors under Japan’s Stewardship Code.
Responsible Investment Training
We provide practical training on understanding, implementing and integrating responsible investment for fund managers.
Our courses are run by fund managers for fund managers. The emphasis is on practical examples and case studies.
TOSHI OGUCHI
Representative Director of Governance for Owners Japan KK
Toshi joined GO as a partner in September 2007 from Nippon Life Group. He leads the executive team of GO Japan as its representative director. From 2002 to 2003, he was based in the UK as the Asia-Pacific corporate governance manager at Hermes Pensions Management. He is a member of several government-led corporate governance initiatives in Japan, including the METI Ito Review Project, the Council of the Stewardship Code, the Council of the Corporate Governance Code and the Council of the Follow-up of the both Codes. He is also a member of the PRI Reporting and Assessment Steering Committee.
YOSHI MAEDA
Director of Responsible Investment
Yoshi is the Director of Responsible Investment and a member of GOJ board. Prior to joining GOJ in 2009, he was a sell-side analyst at Goldman Sachs covering the Japanese banking sector. Prior to this, he worked at the Financial Services Agency in Tokyo.
Yoshi received his Masters in Finance with distinction from London Business School and Bachelor in Law from University of Tokyo.
MIHOKO YOSHIDA
Head of Responsible Investment
Mihoko provides stewardship services for global investors as the Head of Responsible Investment at Governance for Owners Japan. Prior to joining GO Japan in May 2016, she worked for the product management team of Equity Research Group at SMBC Nikko Securities for 2 years. Prior to this, she was Vice President of Investment Banking Division at Goldman Sachs Japan, covering M&A and financing projects for corporates and private equities for 7 years.
She received a B.A. in Economics from Waseda University in Tokyo.