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Norway's sovereign fund to vote against all-male boards in Japan

Some 300 Japanese listed companies could face Scandinavian censure

Norges Bank Investment Management will vote against board nominations in Japanese companies that have no female representation. (Source photo by Reuters, screenshot from fund website)

TOKYO -- Norway's sovereign wealth fund will vote against board nominations of Japanese companies it invests in that do not include any female directors, a move aimed at pressuring them to make their boards more diverse.

The world's largest sovereign wealth fund, with $1.26 trillion in assets under management, will implement the policy starting this year, said Carine Smith Ihenacho, the chief governance and compliance officer at Norges Bank Investment Management (NBIM).

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