Voting Policy

Voting Policy

Principal Global Investors Co., Ltd. (PGIJ) has a policy on exercising voting rights that is described in the globally unified compliance manuals of Principal Global Investors LLC and Principal Real Estate Investors (PGI). We have adopted the “Policy and Procedures for Exercising Voting Rights”.

Basic Policy 
When exercising voting rights, PGIJ will make decisions on exercising voting rights from the perspective of fiduciary duty, prioritizing the long-term economic benefits of our clients.

We consider the following points to be particularly important when making voting decisions:

1. We recognize the importance of corporate governance as a mechanism for supervising management from the perspective of shareholder value, and make decisions on the exercise of voting rights with the aim of maximizing long-term shareholder returns. 
2. We make decisions on exercising voting rights by eliminating the influence of conflicts of interest with our company and affiliated companies. 
3. In the event that illegal acts, administrative actions, prosecutions, or other acts that significantly damage social credibility by companies and their officers and employees lead to damage to shareholder value, we will exercise fair judgment and exercise voting rights. We demand management improvement through 
4. With regard to corporate performance, the decision as an investment target (continued holding or sale) is basically prioritized. may be reflected in the judgment of specific proposals. 
5. If it leads to damage to shareholder value, we will request the company to conduct appropriate management through the exercise of voting rights.

Enforcement 
These regulations will be enforced from June 15, 2010. 
This revision will come into effect on January 31, 2014.

Voting Results 
The aggregate results of the exercise of voting rights for each type of proposal are as follows.

Voting results at the General Meeting of Shareholders to be held in May and June 2022