Proxy Voting Policy and Disclosure of Results
I.Basic approach to the exercise of voting rights by instruction
SPARX Asset Management Co., Ltd. (hereafter the Company) mainly engages in investment management based on bottom-up approach that emphasize individual company research. We select targets for investment based on detailed surveys and an appropriate understanding of elements that include each target company's management policy and environmental, social, and governance approaches. Moreover, when indicating our intentions related to exercising voting rights and the like, we apply this approach to ensure that our funds contribute to the sustainable growth of the target company.
II.Decision-making process and framework related to the exercise of voting rights by instruction
The Investment Policy Committee makes final judgments on the exercise of voting rights by instruction. The Investment Policy Committee is comprised of a chairperson appointed by the Company's Board of Directors, as well as managers from the Investment & Research, Risk Management, and Legal & Compliance divisions. The Committee has been authorized by the Board of Directors to make judgments on the exercise of voting rights by instruction.
III.Basic guidelines regarding the exercise of voting rights
Specifically, the Investment Policy Committee formulates basic guidelines regarding the exercise of voting rights by instruction and grants authority for the exercise of each particular voting right by instruction to a fund manager deemed appropriate by the Investment Policy Committee for each particular target of investment.
The fund manager who is granted authority by the Investment Policy Committee refers to and follows the guidelines for voting rights on each individual proposal, while taking into consideration the circumstances of each investment target.
IV.Individual disclosure of the exercise of voting rights
In line with the Financial Services Agency's Stewardship Code and the Company's support for the trend strengthening corporate governance in the market, we decided, starting with companies whose fiscal years ended March 31, 2017, to disclose the results of exercised voting rights for each company individually. However, as a firm that solely engages in active management, we differ from other companies that engage in passive management. To disclose the results of our decisions on every proposal would also disclose all our investment names. In consideration of our prime commitment to performance for our clients and, given that we cannot eliminate the risk of harming our research and investment activities, we have decided to opt for limited disclosure. We only disclose opposing votes to corporate proposals and supporting votes to shareholder proposals.
Also note that, with regard to the following proposals, our Guidelines for the Exercise of Voting Rights stipulate specific policies and instructions.
- Financial statements and proposals for the appropriation of profits
- Capital policy
- Restructuring, including mergers, transfers of business, and acquisitions
- Board of Directors and appointment of directors
- Board of Corporate Auditors and appointment of corporate auditors
- Officer remuneration
- Stock options
- Changes to the Articles of Incorporation
- Hostile takeover defense measures
- Shareholder proposals
V.Results of Exercised Voting Rights
Results of exercised voting rights shall be disclosed every quarter, with January to March being the first quarter and the target date for disclosure being the first day of the month that is two months after the end of each quarter (e.g., the first day of May, August, November, and February).
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Oct to Dec 2023.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Jul to Sep 2023.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Apr to Jun 2023.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Jan to March 2023.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Oct to Dec 2022.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Jul to Sep 2022.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Apr to Jun 2022.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Jan to Mar 2022.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Oct to Dec 2021.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Jul to Sep 2021.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Apr to Jun 2021.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Jan to Mar 2021.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Oct to Dec 2020.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Jul to Sept 2020.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Apr to Jun 2020.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Jan to Mar 2020.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Oct to Dec 2019.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Jul to Sept 2019.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Apr to June 2019.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Jan to Mar 2019.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Oct to Dec 2018.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Jul to Sept 2018.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Apr to Jun 2018.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Jan to Mar 2018.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Oct to Dec 2017.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Jul to Sep 2017.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings from Apr to Jun 2017.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings of May and June 2016.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings of May and June 2015.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings of May and June 2014.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings of May and June 2013.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings of May and June 2012.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings of May and June 2011.pdf
- Results of Exercising Our Voting Rights at General Shareholders' Meetings of May and June 2010.pdf