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All the stock certificates deposited by participants are registered in the name of JASDEC in the records of the issuing companies. However, under the CSD law, JASDEC cannot exercise shareholders' rights on behalf of beneficial shareholders. Instead, JASDEC is required to notify issuing companies on the record dates of the names of the beneficial shareholders of those stock certificates, based on information received from participants. The issuing companies prepare the list of beneficial shareholders based on the information provided by JASDEC, and notification of shareholder meetings, dividends and other shareholders' rights are sent directly from issuing companies to the beneficial shareholders. With regard to the convertible bonds deposited with JASDEC, JASDEC claims the coupon payments and redemptions on behalf of the beneficial holders and distributes the funds to such beneficial holders through participants. Beneficial Shareholders Notification & Exercise of Shareholder's Rights ![]() Beneficial Shareholders Notification Services ![]() |