These days, many different systems to activate a general meeting of shareholders have been introduced and executed. Therefore, they seem to contribute to operating shareholders' meeting and executing their right. Despite the introduction of the systems, shareholders that go beyond the traditional concept as stockholders are highly interested in short-term financial gains and dividend earnings. The management staff of a company feel burden of shareholders' high interest and participation in their meeting. Therefore, a general meeting of shareholders includes a certain extent of limitation in terms of physical meeting group. In reality, it is difficult for shareholders and the management to improve their awareness. Nevertheless, by seeking actively to settle the new system of an electronic meeting of shareholders, it is necessary to overcome relevant problems. Therefore, this study proposed that the period of the notice for convocation of meeting of shareholders be extended from 2 weeks to 3 weeks. In addition, it proposed that the matters to be provided in advance, such as appointment of a director and approval of director compensation should be announced two weeks earlier, that the agendas with temporal limitation, such as approval of financial statements, should be announced three weeks earlier, and that the provision that the persons allowed to participate in meeting of shareholders are only shareholders should not be defined in the articles of association.
By holding stocks, shareholders can naturally execute their right to vote in their meeting. In addition, although there is shareholders' proposal right system in which shareholders can make a proposal in their meeting to check the management staff and board of directors, it is not activated well. Therefore, this study proposed that shareholders' proposal right system be introduced in an advisory way, not in a forcible way, to help out corporate management, and that the period of shareholders' proposal be extended reasonably for meaningful roles.
In the beginning, a meeting of shareholders constituted a small number of shareholders so that it was easy to convene a meeting and participant shareholders had active discussion for decision-making. Small firms may actively operate a general meeting of shareholders. However, most listed firms didn't do so, because of temporal and spatial limitations. Accordingly, it is unavoidable to apply electronic methods for meeting of shareholders, including electronic notice for convocation, electronic proxy statement, and electronic voting. The electronic methods are not easy to shareholders. Therefore, offline methods should also be applied in parallel. This study proposed the compulsory electronic voting for the matters that feature easy information offering, such as approval of financial statements, limited compensation of executives, and appointment of directors and auditors (members of audit committee).