1. What is kabunushi yutai?
Many Japanese companies offer "kabunushi yutai" (Japanese 株主優待) to shareholders.
This is some kind of gift to shareholders in addition to dividends. As of 2016, 1,307 companies have this gift. This is 35.5 % of all listed companies in Japan
2. What kind of gifts are offered?
Many companies offer gifts related to their products. For example, McDonald's Japan's "kabunushi yutai" is coupons that can be used in McDonald's. You can get burgers, potatoes and drinks for free by using yutai coupon. Some companies' gift is not related to their business. For example, manufacturer of industrial machine can offer rice or wagyu beef as a gift.
3. My stance on 株主優待/kabunushi yutai
Shares of individual companies (not ETF(exchange-traded fund) or mutual fund) are all for 株主優待/kabunushi yutai. I invest majority of my money on MSCI related funds, but use some portion to get 株主優待/kabunushi yutai. 株主優待/kabunushi yutai is not main factor in my investment decision
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