Tokyo bourse highlights MUFG, others as examples in capital reform drive

Sanyo Shokai

01/02/2024 10:57

By Junko Fujita
       TOKYO, Feb 1 (Reuters) - The Tokyo Stock Exchange (TSE)
on Thursday named about 30 firms, including Mitsubishi UFJ
Financial Group  8306.T  and energy explorer Inpex  1605.T , as
examples for other companies to follow in its drive to improve
capital efficiency in Japan.
    The TSE said companies on the list, which also included
autoparts maker Aisin  7259.T , an affiliate of Toyota Motor
 7203.T , had won investor support for their efforts.
    The bourse, operated by Japan Exchange Group  8697.T , last
year asked all listed companies on its prime and standard
markets to take steps to boost capital efficiency as part of its
drive to improve governance and investor returns.
    It said last month that nearly half of the companies on the
prime section had responded to its call to disclose such plans.
    The reform drive helped to lift the benchmark Nikkei 225
 .n225  to its highest level in 34 years last month.
    Also on the list was steel maker Kobe Steel  5406.T , which
was the best performer on the Nikkei last year.  
    "The company's disclosure clearly shows the status of
dialogue with shareholders and investors and how it is
incorporated into management decisions...," the TSE cited
investors as saying of Kobe Steel.  
    Other companies named included regional banks Concordia
Financial Group  7186.T  and Yamanashi Chuo Bank  8360.T , as
well as apparel maker Sanyo Shokai  8011.T . 
    Discount store operator Plant  7646.T  and financial
services provider FinTech Global  8789.T , which trade on the
smaller standard market, were cited too. 

 (Reporting by Junko Fujita
Editing by Mark Potter)
 ((junko.fujita@thomsonreuters.com;))