'No gift' policy cuts turnout at Japan shareholder meetings
Published on Jun 19, 2014 5:41 PM
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.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here