Stewardship Activities
Our Approach to Stewardship
Under an appropriate framework and governance for stewardship, we aim to enhance our clients’ medium- to long-term investment returns by engaging in constructive, purpose-driven dialogue (“engagement”) with investee companies and by exercising voting rights. ,We take into account not only financial information but also non-financial factors such as ESG (Environmental, Social and Governance) considerations. We disclose information on our stewardship activities, including engagement with investee companies and the exercise of voting rights, on a regular basis, through our website and other channels.
Engagement
Engagement (alongside proxy voting) represents one of the two pillars of stewardship activities, and we actively promote effective engagement that contributes to enhancing the corporate value of our investee companies.
In our dialogue with investee companies, we place emphasis on both financial and non-financial aspects, and enhance effectiveness through close collaboration across our investment teams.
By leveraging detailed engagement materials and robust process management, we conduct dialogue from a medium- to long-term perspective on companies’ earnings capacity and sustainability-related challenges, thereby strengthening our efforts not only to support the growth of investee companies but also to elevate overall market standards.
Proxy Voting
- Maximisation of Long-Term Shareholder Value
In fulfilling our stewardship responsibilities, we regard proxy voting as one of our most important activities. Through the exercise of voting rights, we seek to encourage investee companies to pursue management strategies aimed at maximising long-term shareholder value, while ensuring sound governance and giving due consideration to environmental and social factors. - Integration of Proxy Voting and Engagement
While we assess proposals in accordance with our pre-defined proxy voting guidelines for each type of voting agenda item, we place strong emphasis on making voting decisions based on engagement with investee companies, rather than applying a purely formalistic approach.
Furthermore, in certain situations—such as cases involving misconduct or persistently low capital efficiency—careful judgement may be required to achieve the long-term maximisation of shareholder value. Accordingly, we have established a framework to ensure appropriate deliberation in such cases. - Governance and Oversight of Stewardship Activities (including management of conflicts of interest )
We have established a Stewardship Committee as the body responsible for deliberation and reporting on matters related to overall stewardship activities, including proxy voting. The Committee reviews matters of particular importance, especially from the perspective of managing conflicts of interest.
Our Policy for Addressing the Principles for Responsible Institutional Investors (Japan’s Stewardship Code)
As a responsible asset manager, we declare our acceptance of the Principles for Responsible Institutional Investors, known as Japan’s Stewardship Code, in order to appropriately fulfil our stewardship responsibilities. For further details of our policy, please refer to the link below. (Revised on 13 August 2025)
