Euglena Holds Japan's 1st Fully Online Shareholders Meeting

Economy

Tokyo, Aug. 26 (Jiji Press)--Japanese biotech firm Euglena Co. <2931> held an extraordinary meeting of its shareholders fully online on Thursday, in what is believed to be Japan's first such shareholders meeting held without an actual venue being set up.

Virtual shareholders meetings are now permitted by the revised law on strengthening industrial competitiveness, which came into force in June.

Many companies are expected to start holding fully online shareholders meetings as they are convenient for investors who live in remote areas and can help prevent the spread of the novel coronavirus.

At the extraordinary meeting of Euglena shareholders, six proposals submitted by the company, including one calling for a change of business year, were approved. Joining the meeting live through a designated website, Euglena shareholders exercised their voting rights via the internet.

Previously, companies were required to establish actual venues even when they held shareholders meetings online.

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Jiji Press