Glass Lewis has issued is policy guidelines for 2016 for the Japanese market, in both English and Japanese. It is a statement of the times that Glass Lewis made a Japanese translation this year, as they have not done that in previous years. Against the backdrop of recent reform, the policy guidelines may be seen as a bit meek for case of kansayaku-style companies, although some of the provisions clearly reflect the fact that a Corporate Governance Code is now in effect.
In conducting our analysis, we review each company and proposal on a case-by-case basis, considering the company’s performance, industry, stock exchange, place of incorporation and other factors. The following guidelines are a detailed overview of the key policies we apply in each of these markets.