TOKYO, June 13 (Reuters) - Toyota (7203.T) faces an unprecedented challenge at its annual shareholder meeting on Wednesday, with some pension funds voting against Chairman Akio Toyoda on governance issues, while seeking more disclosures on the Japanese automaker's climate lobbying.
Two prominent U.S. proxy advisers have flagged concern about Toyota's board independence.
The step comes as companies across Japan face more pressure from investors, especially on environmental, social and governance (ESG) issues.
The strong financial performance has meant concerns about board independence have largely been shrugged off, said Kazunori Suzuki of Waseda Business School.
He enjoys strong support from individual investors and the many suppliers and Toyota group companies among its shareholders.
Persons:
Akio Toyoda, Toyoda, Kentaro Shibata, Kazunori Suzuki, Anders Schelde, Denmark's, AkademikerPension, AkademikerPension's Schelde, Nicholas Benes, Benes, that's, Makiko Yamazaki, Maki Shiraki, Daniel Leussink, David Dolan, William Mallard, Clarence Fernandez
Organizations:
Toyota, Nikkei, Waseda Business School, Tokyo, Exchange, Services, International Paralympic Committee, Sumitomo Mitsui Financial Group, Training, of Japan, Nissan, Honda, Reuters, Thomson
Locations:
TOKYO, New York, Japan, Toyota