JAPAN - Normally placid Japanese pension funds have opened hostilities with failing companies in which they invest by threatening to vote against the re-election of management - and payment of their retirement allowances - if a firm suffers three straight years of losses with no dividend pay-outs.
The country’s Pension Funds Association, which represents 1,700 employee pension funds worth ¥5,300bn (US$45.2bn), is set to adopt the new corporate governance voting guidelines in April. Up unt...
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