Tokyo Bourse’s ‘Name and Shame’ List Builds Pressure for Reform

The Tokyo Stock Exchange said about 40% of companies on its prime section met the bourse’s voluntary request to come up with business plans to improve capital efficiency, with global names including Sony Group Corp. and Hitachi Ltd. on the list of do-gooders.

About half of companies failed to deliver, including corporate giants Toyota Motor Corp., Fast Retailing Co., SoftBank Group Corp., Nintendo Co. and Keyence Corp. The remaining 9.4% of companies were considering plans to improve capital efficiency, according to a list released by the TSE on Monday.

Japan Exchange Group Inc., the TSE’s operator, made the ...