The Kansai Electric Power Company, Incorporated | Partial Amendment to Articles of Incorporation of Company (2)_General Shareholder's Meetings at The Kansai Electric Power Company, Incorporated

Status
22.40% votes in favour
AGM date
Previous AGM date
Proposal number
6
Resolution details
Company ticker
9503
Lead filer
Resolution ask
Adopt or amend a policy
ESG theme
  • Governance
ESG sub-theme
  • Shareholder rights
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Utilities
Company HQ country
Japan
Supporting statement
The Third Party Committee’s report on the incident of receiving cash and gifts points to a lack of an outside perspective and an inward-looking corporate structure that prioritizes performance and business activities over compliance as the root causes. It is therefore proposed that the content of the deliberations of the General Shareholders’ Meeting be published. The ability to check remarks made by shareholders at General Shareholders’ Meetings in the minutes is a fundamental condition for dialogue. It is also important to be able to check in the minutes whether remarks made by participants at General Shareholders’ Meetings were accurately conveyed to executives. However, the minutes currently taken only state the summary of remarks made by executives and do not specifically describe questions from shareholders. As such, improvement of the minutes is requested. In addition, the procedures for disclosing minutes are complicated and non-shareholder members of the general public cannot obtain minutes. The contents of General Shareholders’ Meetings need to be disclosed to the Company’s shareholders and the general public as well. Shareholders also have a duty to engage in serious discussions to improve business and to explain the contents of the discussions to the public. This will also lead to the restoration of the Company’s trust.

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