TOKYO -- Shareholders of Kuroda Electric, a Japanese electronics device trading company, on Thursday approved a proposal by a large shareholder that proposed that Kuroda accept one external director of its choosing. The approval is a rare case in japan, where shareholder's proposals are rarely given the green light.
This is the first time in eight years in Japan that an activist investor's proposal was approved, according to a Japanese securities company. In Japan, shareholders, including institutional investors, are normally passive and side with the company.
