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October 2026 edition · Methodology GNT-BDS v1.1.1 · Last updated 2026-10-23日本語 / English
Japan IR IndexIndependent research · English disclosure & shareholder communication

IR Insights

The English notice asks you to vote. The voting website is in Japanese.

Of the 128 companies we reviewed, 109 publish their AGM notice in English. For 95 of them, the website given for voting online has no English option. The proposals can be read in English; a registered shareholder who tries to vote online stops at a Japanese login page. Who this affects, and what a notice should say.

Figures come from our records for question G5 (AGM notice in English with sufficient lead time to vote). The voting websites were taken from each company's notice or share-registry page on 23 October 2026, and the three registrars' sites were re-opened on 24 October. The 128 companies are a research selection, not the market. Companies are named only as examples of a clear explanation; the gap is described without names.

Most English notices point to a Japanese-only voting website

Figure 1. The AGM notice and the voting website, 128 companies
  1. 01English notice; the voting website is Japanese-only95
  2. 02English notice; voting website not recorded14
  3. 03No English notice19

Of the 109 companies with an English notice, 95 give a voting website (in the English notice, or where it names none, in the Japanese notice or share-registry page) that is in Japanese only. For the other 14 the score turned on timing and our notes do not record the voting website, so they are counted neither way. None of the 128 scores 5 on this question. The websites are run by the share registrars, not the companies, and all three registrars' sites we opened are Japanese from the first page, with no switch to English.

Table 1. Companies whose voting website is Japanese-only, by share registrar
Share registrarCompaniesVoting website checked
Sumitomo Mitsui Trust Bank44www.web54.net · www.soukai-portal.net
Mitsubishi UFJ Trust and Banking28evote.tr.mufg.jp
Mizuho Trust & Banking18soukai.mizuho-tb.co.jp
Not named in our note5—

Who this affects

This does not affect every foreign investor. Institutions outside Japan usually vote through their custodian, and for most listed companies through the Electronic Voting Platform run by ICJ, set up by the TSE and Broadridge (TSE ↗). At the end of March 2026, 1,807 TSE-listed companies had joined it or decided to (ICJ, in Japanese ↗). The Corporate Governance Code asks Prime Market companies to make the platform available at least to institutional investors (Supplementary Principle 1.2.4 ↗).

The registrar's website is for shareholders on the register, who log in with the details on the voting form sent to them by post. An individual who holds through a Japanese broker and does not read Japanese can read the proposals in the English notice, but cannot use the online route that notice gives. The notice is in English for readers who do not read Japanese; when the route it gives is Japanese-only, its guidance stops there.

The ICJ platform is for institutions only: individuals, foreign or Japanese, vote by post or on the registrar's website. An individual who holds Japanese shares through a broker outside Japan is not on the register (the shares sit in a custodian's or nominee's name) and can vote only if that broker passes the vote through.

What an English notice should say

Examples of a clear explanation

These companies’ voting websites are Japanese-only too; they are named because their notices tell an English reader accurately how voting works.

The lasting fix is for the registrars to add English screens to their voting websites: 90 of the 95 companies here use one of the three. Until then, an accurate account of the routes in the notice is what guides an English reader.

After the meeting: the result in English

The gap continues after the meeting. 108 of the 128 companies publish little or nothing of the vote results in English (0–2 on G6): votes for, against and abstaining, and the approval ratio, for each proposal. A shareholder asked in English to vote cannot read in English how the vote went. Six gaps in English IR: vote results →

Topic: AGM notices and voting results → · Every company, question by question → · What shareholders ask: counting the votes → · All insights →