Shareholders’ rights after stocks became paperless

This January, stocks became paperless in Japan.

After that, the perfection of transfer of shares was changed from shareholders registry in the company to the registry of Japan Securities Depository Center.

So, shareholders need to ask securities company send the shareholders’ certification  to the company when shareholders submit proposals at the shareholders meeting.

But this change was not well known so quantity of shareholders proposals are less than usual this year because of complexity of procedure.