Some 40% of firms on top Tokyo bourse disclose capital plans

Nearly half of the companies on the Tokyo Stock Exchange’s prime section have responded to a call to disclose plans to improve capital efficiency, the bourse said on Monday, as it released for the first time a list of those who had complied.

The list, which did not include some of Japan’s biggest and most influential companies such as Toyota Motor and SoftBank Group, marks the culmination of the bourse’s push to nudge firms to improve governance and investor returns.

Some 40% of the 1,656 companies on the exchange’s prime section have publicly disclosed plans, while another 9% are considering such measures, the bourse said.