Japan eyes measures to empower firms with details of de facto shareholders

Japan is considering introducing a system that enables publicly traded and other stock companies to identify de facto shareholders who do not appear in shareholder lists but who effectively exercise voting rights.

The system will be included in a draft revision to the companies law being discussed by the Legislative Council, which advises the justice minister.

Specifically, the council is likely to approve the idea of giving companies the right to demand that the shareholders through whom de facto holders exercise their influence disclose information on them.