Think of it like how Zuckerberg only owns 13% of Facebook but has >60% of the voting power.
Japanese law allows corporations to only require 1/3 of voting shares present for quorum, and then a majority of those present to pass resolutions. It also allows cross-shareholders (like Toyota) to have special privileges over regular class shareholders (typically right of first refusal over any resolution).
In practice, nothing much will pass without the largest shareholder's approval.
kenhwang|6 months ago
Japanese law allows corporations to only require 1/3 of voting shares present for quorum, and then a majority of those present to pass resolutions. It also allows cross-shareholders (like Toyota) to have special privileges over regular class shareholders (typically right of first refusal over any resolution).
In practice, nothing much will pass without the largest shareholder's approval.
axus|6 months ago