Taiwan Depository & Clearing Corporation

In response to the growing demand from listed companies to understand the voting intentions of foreign shareholders, the Taiwan Depository & Clearing Corporation (TDCC) has expanded its offerings by partnering with ISS-Corporate this March. This collaboration follows TDCC's 2021 partnership with Glass Lewis. As a result, more than 1,300 listed companies will be able to download their respective “ISS Proxy Research Reports” via TDCC's ESG IR platform.

TDCC Chairman Bing-Huei Lin stated, “Enhancing the transparency of shareholder meeting voting recommendations has always been a goal we’ve strived to achieve. By providing access to ISS Proxy Research Reports, we are expanding the coverage of research on proxy voting recommendations while enriching the services offered through our ESG IR platform. This partnership is the result of joint efforts between TDCC and ISS-Corporate, a wholly-owned subsidiary of Institutional Shareholder Services (ISS).”

With foreign investors holding over 40% of the shares in Taiwan's stock market, they wield significant influence over shareholder meeting resolutions. ISS and Glass Lewis are global leaders in the proxy advisory industry, with a combined market share exceeding 90%. Their influence on foreign investors’ voting is substantial.

TDCC further emphasized that the addition of ISS services not only offers issuers access to more comprehensive and diverse proxy voting recommendations information, but also assists them in strengthening communication with external stakeholders. This will ultimately improve corporate governance and create a win-win scenario for both companies and investors. By reviewing the proxy research reports, issuers will gain insights from the ISS research team's analysis of various proposals for the shareholders’ meetings. This will help issuers assess voting trends of foreign institutional investors. Moreover, issuers will be able to respond timely to voting recommendations and proposal analyses, thereby enhancing transparency in shareholders’ meetings.

For years, TDCC has been committed to maintaining stability and fostering innovation in Taiwan's capital markets. Through precise, comprehensive, and reliable services, TDCC has helped establish stronger partnerships between issuers and investors. Moving forward, TDCC will continue to collaborate with global professional partners, providing Taiwan’s market with more forward-thinking solutions and promoting ESG sustainable development.