Unshackling investors in Japan (1)
For the past decade financial regulation in Japan has hamstrung collective engagement of listed companies. What was the origin and purpose of these rules?
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Keep your eyes on the prize
In May 2026 some rusty old chains constraining collective engagement of companies in Japan will be removed. Though not perfect, the new rules mark an important turning point in regulatory policy. Savvy investors will keep their eye on the big picture and not tie themselves in knots over minutiae.
Toyota tests the system, falls short
Despite a higher offer price for Toyota Industries Corporation (TICO), surprising weaknesses in Toyota Motor’s handling of the TICO privatisation remain. While this case says much about the Toyota Group’s governance culture, it also points to a range of flaws in the squeeze-out process in Japan.
Jardines and the economics of dissent
A spate of squeeze-outs has created a cottage industry in Cayman and Bermuda. The Jardines case could prove to be the largest offshore dispute to date.
Did Jardines shortchange shareholders by US$4 billion?
A legal challenge to the contentious 2021 squeeze-out of shareholders is grinding through the courts: here is what we know so far, and what happens next.
Mandarin Oriental and the ghosts of governance past
The mechanics of the hotel chain buyout suggests Jardines is wary of another shareholder showdown.
Welcome to Firefly
Firefly is a new independent publishing venture by Jamie Allen, Jane Moir and Melissa Brown. We write about events shaping capital markets in Asia, with a focus on issues that deserve a sharper or deeper focus.