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> What is the Pension Fund Association?
> Investment of Pension Fund Association
> Stewardship Responsibilities
Stewardship Responsibilities
Japan's Stewardship Code
With the adoption of the Principles for Responsible Institutional Investors - the Japan's Stewardship Code, PFA strives to fulfill its responsibilities as an institutional investor in an appropriate manner.
Exercise of Shareholder Voting Rights
PFA began in-house investment in domestic equities in April 2002 and began exercising its shareholder voting rights for itself in July 2002. In February 2003, PFA established its Guidelines for the Exercise of Shareholder Voting Rights to serve as the criteria for the full-scale exercise of its shareholder voting rights.
（1）Guidelines for the Exercise of Shareholder Voting Rights
（2）Results of the exercise of shareholder voting rights (in-house investments)
Results of the exercise of shareholder voting rights at the general meeting of shareholders held in FY2022 regarding in-house investments in domestic equities (aggregate disclosures by proposal)
（3）Results of the exercise of shareholder voting rights (externally managed investment)
Results of the exercise of shareholder voting rights at the general meeting of shareholders held in FY2022 regarding externally managed investments in domestic equities (aggregate disclosures by proposal)
Engagement
（1）Outsourcing to Hermes EOS
We have retained Hermes EOS*1 to conduct high-level dialogue with major Japanese companies that operate globally, for the efficient implementation of engagement activities by experts.
*1 Stewardship service company in the United Kingdom with a wide range of asset owners as clients, mainly pension funds in the Euro/ US region.
（2）Institutional Investors Collective Engagement Program
PFA participates in the Institutional Investors Collective Engagement Program hosted by the Open the link in a separate window. Institutional Investors Collective Engagement Forum or IICEF*2 as an institutional investor member and conducts collective engagement activities.
*2 The Institutional Investors Collective Engagement Forum was established to help institutional investors conduct sound and appropriate stewardship activities, especially in collaborative shareholder engagements in which multiple institutional investors work together (without any "act in concert" agreement or co-owning the shares), with the aim of holding constructive dialogues with investee companies purely from the corporate governance perspectives.
