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Sompo Asset Management Co., Ltd.

PRI reporting framework 2019

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(Proxy) voting and shareholder resolutions

LEA 12. Typical approach to (proxy) voting decisions

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

Approach

Based on

12.2. 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.

Through engaging with companies, we grasp each company's situation and make our own analysis. Based upon our own analysis and discussion with companies, we decide whether we vote for/against each item. We do not apply our voting policy uniformly.

12.3. Additional information.[Optional]


LEA 13. Percentage of voting recommendations reviewed (Not Applicable)


LEA 14. Securities lending programme

14.1. Indicate if your organisation has a securities lending programme.

14.2. Describe why your organisation does not lend securities.

We do not have such requests from our clients.

14.4. Additional information.


LEA 15. Informing companies of the rationale of abstaining/voting against management

15.1. Indicate the proportion of votes where you or the service providers acting on your behalf have raised concerns with companies ahead of voting.

15.2. Indicate the reasons for raising your concerns with these companies ahead of voting.

15.3. Additional information. [Optional]


LEA 16. Informing companies of the rationale of abstaining/voting against management

16.1. Indicate the proportion of votes participated in within the reporting year in which, you and/or the service provider(s) acting on your behalf, have communicated to companies the rationale for abstaining or voting against management recommendations.

16.2. Indicate the reasons your organisation would communicate to companies, the rationale for abstaining or voting against management recommendations.

16.3. In cases where your organisation does communicate the rationale for the abstention or the vote against management recommendations, indicate whether this rationale is made public.

16.4. Additional information. [Optional]


LEA 17. Percentage of (proxy) votes cast

17.1. 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

17.3. Additional information. [Optional]


LEA 18. Proportion of ballot items that were for/against/abstentions

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

18.2. 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
90 %
Against (opposing) management recommendations
10 %
Abstentions
0 %
100%

18.3. In cases where your organisation voted against management recommendations, indicate the percentage of companies you have engaged.

85

18.4. Additional information. [Optional]


LEA 19. Proportion of ballot items that were for/against/abstentions

19.1. Indicate whether your organisation has a formal escalation strategy following unsuccessful voting.

19.2. Indicate the escalation strategies used at your organisation following abstentions and/or votes against management.

19.3. Additional information. [Optional]


LEA 20. Shareholder resolutions

20.1. Indicate if your organisation directly or through a service provider filed or co-filed any ESG shareholder resolutions during the reporting year.

20.6. Describe whether your organisation reviews ESG shareholder resolutions filed by other investors.

20.7. Additional information. [Optional]


LEA 21. Examples of (proxy) voting activities

21.1. Provide examples of the (proxy) voting activities that your organisation and/or service provider carried out during the reporting year.

ESG Topic
Shareholder rights
Conducted by
Objectives

Abolish companies’ takeover defense measures

Scope and Process

Scope: 9 companies that filed takeover defense measures in annual shareholders meeting.

Process: We notified them that we voted against for the item and asked them to reconsider their items by the next annual shareholders meeting.

Outcomes
ESG Topic
Health and Safety
Conducted by
Objectives

To prevent the company’s product from environmental pollution.

Scope and Process

Scope: A company that fabricated its fuel consumption efficiency data as well as its exhaust gas data.

Process: We notified them that we would vote against the reelection of CEO, however, the company sticks to reform the incident and we ended up without any progress. We continue our engagement with the company.

Outcomes
ESG Topic
Other governance
Conducted by
Objectives

Reduction of cross-shareholdings 

Scope and Process

Scope: 22 companies that hold a certain amount of cross shareholdings based upon our criteria.

Process: Amongst the 22 companies, some of them sold their cross shareholdings to some extent, however, from our point of view, many of them still have not sold enough amount of cross shareholdings. We voted against 18 companies’ item of board of directors’ election in their annual shareholders meeting. We continue to engage with those companies.

Outcomes

21.2. Additional information. [Optional]


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