Shareholders making more demands of Japanese firms

Shareholder meeting season is about to kick off in Japan. Activist investors have become more vocal this year, making demands of dozens of firms.

Over 2,200 companies listed on the Tokyo Stock Exchange will hold the annual gatherings this month.

Mitsubishi UFJ Trust and Banking Corporation says that at least 90 firms have received proposals from investors.

A Hong Kong-based investment fund Oasis Management Company urged paper maker Hokuetsu Corporation to dismiss its president and four outside directors. The fund says that business has been stagnant for years under the current leadership.

Meanwhile US-based Nihon Global Growth Partners Management is prodding instant-noodle maker Toyo Suisan. The fund wants the company to withdraw from the marine products business and focus on noodles. It's demanding information about management's use of their capital.

The Tokyo Stock Exchange has also told listed companies to be more conscious of their capital costs and share prices.