In Japan, ROE becomes the acid test
With a stewardship code in place, asset managers and activist investors are engaging managers on improving performance
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Tokyo
AFTER almost three decades of investing in Japanese stocks without pushing companies for higher returns, Naoki Fujiwara says it's finally time to change.
The Tokyo-based fund manager, who oversees about US$6 billion for Shinkin Asset Management Co, now brings up return on equity whenever he meets executives. Failure to do so might lose his fund investors.
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