Lead the evolution to 22nd century
EV22 Capital Limited is a proprietary investment company focused on listed companies in governance reform and the energy transition. We look for businesses where better governance or the shift to a low-carbon economy can unlock value, and we publish independent commentary on corporate governance.
Environmental Transition
Investing in companies leading the shift to sustainable energy, circular economy, and low-carbon solutions.
Governance Reforms
Look for rerating catalysts from governance reform, buybacks, ROE improvement and portfolio simplification.
Soft Activism
We partner with all stakeholders to create long term and sustainable value for investors.
Commentary
For any queries, please contact info@ev22cap.com
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Japan’s governance reform has reshaped and how investors should react
Between late June and the end of July, three ministries and the TSE redrew the terms of engagement for investors in Japan. We map what changed, why payout campaigns are now the weakest demand, and how a quieter MoJ draft would limit shareholder proposals.
August 2026Suspending the vote-What the numbers show
Subcommittee Material No. 13 would let a board suspend a shareholder's voting rights for a disclosure defect by board resolution, with no court involved. We analyze the maths involved.
July 2026Shinko Shoji Tender offer Fairness protection is more form, less substance
Kaga Electronics cut its minimum tender condition mid-offer, removing the majority-of-minority protection its original filing relied on. Our EDINET screen of 253 amended offers shows this is a repeated technique.
July 2026Voting Blind: Japan’s AGM Machine Is Finally Being Rebuilt
Japan’s regulators want the Yuho published before the AGM. Our filing-level data on 716 TSE Prime companies shows the headline has improved dramatically — while the substance has barely moved.