LAKE SUCCESS, N.Y.
March 26, 2012
Investor Communications Japan
(ICJ) announced today that the 400th issuer has joined its electronic proxy voting platform, bringing the benefits of this fully electronic service to even more shareholders in
and globally. ICJ is a joint venture of
Broadridge Financial Solutions
, Inc., (NYSE:BR) the
Tokyo Stock Exchange
, Inc., (TSE) and the
Japan Securities Dealers Association
In operation since
, ICJ provides investors in
, and institutional shareholders globally, the ability to receive notifications of Japanese shareholder meetings and return voting decisions directly to issuers and their agents.
Of the 100 largest listed companies by capitalization in
, 96 use ICJ's proxy solutions platform, and among companies with a market capitalization of over JY 200 billion (
) over 75% leverage the platform. Additionally, well over 50% of companies with foreign ownership ratios above 20% use ICJ, highlighting the value that these companies place on facilitating the proxy process for all their shareholders, including non-Japanese shareholders.
ICJ provides straight-through-processing (STP) that has greatly improved the flow and transparency of information to shareholders and back to issuers, increasing the timeliness of materials delivery to shareholders for review from days to weeks. The unique process also provides assurances to all participants that votes cast, both in
and globally, reach the shareholder meeting in a timely and accurate manner and are cast at the meeting as directed by shareholders.
Under the traditional paper process, shareholders had only days or even hours to process thousands of proxies across hundreds of accounts, and make decisions on often hundreds if not thousands of shareholder meetings held over a few days in late June every year. The new process allows this voting to take place not only across a longer timeframe, but through Broadridge's sophisticated Internet voting and recordkeeping tool, ProxyEdge®.