Activist Oasis urges Hokuetsu shareholders to vote against president re-election

Hokuetsu

22/05/2023 01:45

May 22 (Reuters) - Activist investor Oasis Management on
Monday urged shareholders of Hokuetsu Corp  3865.T  to vote
against the re-election of President Seiko Kishimoto at the
Japanese paper manufacturer's upcoming annual general meeting.
    The "company's corporate governance system, controlled by
Kishimoto, has failed to function... We believe true enhancement
of the company's corporate value is not possible without his
departure," the Asia-focused fund said in a statement.
    Kishimoto's departure will enhance the paper firm's
corporate value over the long term, said Oasis, Hokuetsu's
biggest shareholder with a stake of over 18%.

 (Reporting by Urvi Dugar in Bengaluru; Editing by Christopher
Cushing)
 ((UrviManoj.Dugar@thomsonreuters.com;))