Firms get ready for web-only shareholder meetings

A growing number of firms in Japan are preparing to hold shareholder meetings solely online.

Under the current law, management and shareholders are allowed to attend shareholder meetings online if at least one physical venue is set up. A bill to revise the related laws to allow solely virtual meetings is being deliberated in the Diet as part of the special measures against infection.

Z holdings, a parent company of Yahoo Japan and LINE, plans to propose a change in internal rules next month so that it can hold shareholder meetings exclusively online in the future.

Ozaki Futoshi who is the chief of planning at Z holdings says that as an internet business company it wants to provide an environment where shareholders have an equal opportunity to participate.

When conducting shareholder meetings only online, companies have issues about how to confirm shareholders' identities and making sure they can exercise their voting rights.