MJS Tax and Accounting System Research Institute Submits Opinion Paper on 'Interim Proposal for Review of Corporate Law System'

The Commercial Law Research Group of the MJS Tax and Accounting System Research Institute, a think tank of Miroku Jyoho Service (MJS), which develops and sells financial/accounting systems, has submitted an opinion paper to the Ministry of Justice regarding the 'Interim Proposal for Review of Corporate Law System.' The proposal aims to 'increase flexibility in capital policy,' 'digitize shareholder meetings,' and 'substantialize shareholder relations.' The research group, which studies corporate law for business practice, utilized its expertise to compile these recommendations. The opinion paper examines issues from the perspective of 'balancing corporate agility with the protection of shareholder interests in response to digitalization and M&A activation.' Regarding the introduction of virtual-only shareholder meetings, the group expressed support on the condition that transparency is ensured to prevent arbitrary management actions. Furthermore, they maintained a cautious stance on excessive deregulation, advocating for a balance between accelerating corporate activities and protecting the interests of existing shareholders.