Oasis Statement on Shareholder Proposals for a Governance Turnaround at Toyo Seikan
Wednesday, May 26, 2021 1:58PM IST (8:28AM GMT)
More information available at www.ToyoSeikanCorpGov.com
Oasis Management Company Ltd. (“Oasis”) is the manager to funds that own shares of Toyo Seikan Group Holdings Ltd (5901 JP) (“Toyo Seikan” or the “Company”), a leading manufacturer of packaging containers in Japan.
With over 100 years of rich history and experience, Toyo Seikan should lead as an example for best-in-class corporate governance in Japan. However, this has not been the case.
Toyo Seikan’s governance shortcomings including substantial cross-shareholdings that account for 46% of the Company’s market cap, paid