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'No gift' policy cuts turnout at Japan shareholder meetings

Published on Jun 19, 2014 5:41 PM
 
People arrive for a shareholders meeting for Japan's electronics giant Sony in Tokyo on June 19, 2014.  Some of Japan's best-known companies, such as Sony, Japan Airlines and fast-food chain Yoshinoya, are seeing attendance plummet at their shareholder meetings, but it is not World Cup fever that is keeping investors away - it's the lack of gifts. -- PHOTO: AFP

TOKYO (AFP) - Some of Japan's best-known companies are seeing attendance plummet at their shareholder meetings, but it is not World Cup fever that is keeping investors away - it's the lack of gifts.

Sony, Japan Airlines and fast-food chain Yoshinoya were among the firms that have dumped a longstanding tradition of coughing up freebies for investors who come to annual meetings.

In fact, some shareholders have been known to grab their gifts - ranging from food coupons and cookies to batteries and movie tickets - and then leave before executives even started talking.

On Thursday, Sony's conference in Tokyo drew fewer than half the record 10,693 investors at last year's meet.

 
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