Oasis Response to Hokuetsu’s Announcement on Reducing Daio Paper Stake (Securities Code: 3865 JT)
Oasis Management Company Ltd. (“Oasis”) is the manager to funds that beneficially own approximately 18% of Japanese paper manufacturer Hokuetsu Corporation (3865 JT) (“Hokuetsu” or the “Company”).
- Oasis Management Company Ltd. (“Oasis”) is the manager to funds that beneficially own approximately 18% of Japanese paper manufacturer Hokuetsu Corporation (3865 JT) (“Hokuetsu” or the “Company”).
- Oasis has been engaging with Hokuetsu since 2019 in efforts to help improve the Company’s corporate governance and corporate value.
- Hokuetsu claims it will achieve JPY 3 billion in synergies in FY27/3 with Daio Paper, while simultaneously reducing its Daio Paper stake.
- Back in 2012, when Hokuetsu originally bought the Daio stake under Mr. Kishimoto’s leadership, the Company made similar promises.