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Tuesday, October 27, 2020

Broadridge Financial Solutions, Inc. (NYSE:BR) Hits 52-Week Highs, More Room to Run?

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Broadridge Financial Solutions, Inc. (NYSE:BR) shares are higher for the year, and the catalyst has been the joint venture with Investor Communications Japan (ICJ), between Broadridge and the Tokyo Stock Exchange, Inc (TSE).

Broadridge is a leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and other corporations. Broadridge’s investor and customer communications, securities processing and managed services solutions help clients reduce their capital investments in operations infrastructure, allowing the customer to focus on core business activities.

The recent project has spawned 800 participating share-issuing companies on its “electronic proxy voting platform”.  There were 834 issuers on the platform as of 2 May 2017, which represents 80% growth over the past three years.

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BR 10-Day Chart Below:

Operating in Japan, Investor Communications Japan (ICJ), (the ICJ platform) contributes to realizing a constructive dialogue between listed companies and institutional investors, and helps to promote high standards of corporate governance. The ICJ platform connects stakeholders involved in a given shareholder meeting, utilizes Broadridge’s sophisticated internet voting, recordkeeping and reconciliation technologies. Managing communication flows between participating companies and institutional investors, the ICJ platform ensures efficient and accurate voting.

“We are very proud to have passed the 800-issuer milestone for the ICJ platform. As a key offering of our global solutions, we aim to continue to enhance platform functionality to facilitate open communication between listed companies and shareholders,” said Patricia Rosch, Global President of Investor Communications Solutions (ICS) for Broadridge.

Current users include 87% of TSE-listed companies in terms of market capitalization, 97% of Nikkei 225 index constituents and 84% of Japan Exchange Group (JPX)-Nikkei Index 400 constituents. Broadridge supported 60,776 proxy meetings in Global Markets in 2016, with Issuers located in 119 countries.

“Surpassing 800 issuers is a great achievement for ICJ,” said Demi Derem, General Manager of ICS for Broadridge.  “In June 2016, the annual peak season for AGMs in Japan, the platform processed 38% of all voting proxy shares for participating issuers. We anticipate an even higher usage rate this year.”

On the corporate side, the ICJ platform gives issuers insight and analytics regarding the proxy voting process and enables them to provide timely materials to institutional investors even in the days before a shareholder meeting begins. Similarly, the platform benefits institutional investors by enabling them to review additional information provided by the company and (re)cast their votes based on the most updated information up through the day prior to the meeting.

Rapid growth in the number of participating issuers on the platform has been driven in part by the 2015 introduction of Japan’s Corporate Governance Code. The new code encourages issuers to improve their proxy voting practices regardless of their market capitalization and level of institutional ownership.

Broadridge Financial Solutions, Inc. (NYSE:BR) is a leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and other corporations. Broadridge’s investor and customer communications, securities processing and managed services solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With more than 50 years of experience, Broadridge’s infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America and processes on average $5 trillion in equity and fixed income trades per day. Broadridge employs approximately 10,000 associates in 16 countries.

Investors Communications Japan, Inc. (ICJ) is exclusively providing electronic proxy voting platform services for the shareholders meeting of major blue-chip Japanese issuers. The participants on ICJ platform are; 804 Japanese issuers, 6 transfer agents, 4 master trusts banks, 6 sub-custody banks, 14 global custody banks including 10 largest and about 4500 institutional investors worldwide. ICJ delivered 38% of all voting shares of ICJ participating issuers in June 2016 AGM peak season.

Broadridge Financial Solutions, Inc. (NYSEMKTS:BR) is a larger company than we normally cover, but reader interest has driven us to learn more about what they do and begin the process of understanding the recent news so we may get our hands around the story.  This was a good start learning about the exchange partnerships and success of this project, and shares have reflected a greater confidence by new investors, happy to be here learning more about what they do and how they do it and the effect on the daily share price. For continuing coverage on shares of $BR stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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