Oasis Calls for CEO Dismissal, Submits Shareholder Proposals for New Directors at Hokuetsu AGM (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 an effort to help improve the Company’s corporate governance and corporate value.
- However, Oasis firmly believes that CEO & President Sekio Kishimoto’s poor leadership and a lack of oversight by the Company’s current independent directors are holding Hokuetsu back from achieving its full potential.
- Finally, in a recent correspondence, the Company charged that, should Oasis’s proposals succeed at the AGM, Oasis would, through the independent directors, effectively gain control over the Company.