Factory automation and robotics giant FANUC (TSE:6954) performed well on expectations of better investor communications and shareholder returns. The firm is notorious for refusing to meet with investors. However, citing the upcoming corporate governance code, the CEO decided to set up a shareholders relations department, and has announced greater emphasis on improving shareholder returns. Demand from a U.S. activist fund may have prompted the company to reconsider its stance toward investors.
From Matthews Japan Fund (Trades, Portfolio) Q1 2015 Commentary.
