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Sumitomo Mitsui DS Asset Management Company, Limited

PRI reporting framework 2017

You are in Direct - Listed Equity Active Ownership » (Proxy) voting and shareholder resolutions

(Proxy) voting and shareholder resolutions


LEA 17. Voting policy & approach

New selection options have been added to this indicator. Please review your prefilled responses carefully.

17.1. Indicate whether your organisation has a formal voting policy.

17.2. Indicate what your voting policy covers:

17.3. Attach or provide a URL to your voting policy. [Optional]

17.4. Provide a brief overview of your organization’s approach to (proxy) voting.

The Executive Management Committee, which consists of directors and executive officers, deliberates on SMAM's basic policy on the exercise of voting and other shareholder rights, and the CEO approves the policy. The Voting Rights Exercise Subcommittee stipulates specific guidelines, the SMAM Guidelines for the exercise of voting rights, establishes the decision-making process, and develops the operation structure relating to instructions for voting. The executive officer responsible for corporate research serves as the head of this subcommittee, which consists of the heads of each investment group and its staff. The heads of the relevant investment groups decide to vote for or against each proposal in accordance with the SMAM Guidelines, the Directions and Regulations for the Exercise of Voting Rights, and the Practical Overview on Exercise of Voting Rights for Domestic Stocks. Currently, SMAM in principle does not exercise inconsistent votes. When more than one of the investment groups holds a particular stock, and if the voting decision differs from one investment group to another, the Voting Rights Exercise Subcommittee makes the final decision to ensure consistent voting.

17.5. Provide an overview of how you ensure your voting policy is adhered to, giving details of your approach when exceptions to the policy are made (if applicable).

SMAM has the strict procedure of proxy voting. In some of the cases, not only single check but double or triple ones as well for should be held in order to follow the guideline. In the other cases, the voting can be automatically processed along the guideline. In this way, there has been no exceptional voting to the guideline.


LEA 18. Typical approach to (proxy) voting decisions

18.1. Indicate how you typically make your (proxy) voting decisions.


Based on

18.2. Additional information.[Optional]

LEA 19. Percentage of voting recommendations reviewed (Not Applicable)

LEA 20. Confirmation of votes (Private)

LEA 21. Securities lending programme (Private)

LEA 22. Informing companies of the rationale of abstaining/voting against management

New selection options have been added to this indicator. Please review your prefilled responses carefully.

22.1. Indicate whether you or the service providers acting on your behalf raise any concerns with companies ahead of voting

22.2. Indicate whether you and/or the service provider(s) acting on your behalf, communicate the rationale to companies, when , you abstain or vote against management recommendations.

22.3. Additional information. [Optional]

SMAM discloses the voting results upon company's request.

Outputs and outcomes

LEA 23. Percentage of (proxy) votes cast

23.1. For listed equities where you and/or your service provider have the mandate to issue (proxy) voting instructions, indicate the percentage of votes cast during the reporting year.

Votes cast (to the nearest 1%)

100 %

Specify the basis on which this percentage is calculated

23.2. Explain your reason(s) for not voting certain holdings

          SMAM did the voting to all the companies held in the portfolios.

23.3. Additional information. [Optional]

LEA 24. Proportion of ballot items that were for/against/abstentions

24.1. Indicate if you track the voting instructions that you and/or your service provider on your behalf have issued.

24.2. Of the voting instructions that you and/or third parties on your behalf issued, indicate the proportion of ballot items that were:

Voting instructions
Breakdown as percentage of votes cast
For (supporting) management recommendations
85 %
Against (opposing) management recommendations
15 %
0 %

24.3. Describe the actions you take after voting against management recommendations.

          SMAM discloses the voting results upon company’s request.

24.4. Additional information. [Optional]

LEA 25. Shareholder resolutions (Private)

LEA 26. Examples of (proxy) voting activities (Private)


LEA 27. Disclosing voting activities

27.1. Indicate if your organisation proactively discloses information on your voting activities.

provide URL

27.2. Indicate if the information disclosed to the public is the same as that disclosed to clients/beneficiaries.

27.3. Indicate the voting information your organisation proactively discloses to the public.

Indicate how much of your voting record you disclose

Indicate what level of explanation you provide

27.4. Indicate how frequently you typically report voting information to the public.

27.5. Indicate the voting information your organisation proactively discloses to clients/beneficiaries.

Indicate how much of your voting record you disclose

Indicate what level of explanation you provide

27.6. Indicate how frequently you report voting information to clients/beneficiaries.

27.7. Describe any other differences in the information being disclosed. [Optional]

SMAM indicates all the records and the summarized explanation of proxy voting in public. For the clients, SMAM explains the details much more precisely with all the records of proxy voting.

27.8. Additional information. [Optional]