Komori
Governance1384Hokuryo Co.,Ltd.Food

Notice Regarding the Shareholder Proposal and the Opinion of the Company’s Board of Directors

A shareholder submitted a proposal to amend the Articles of Incorporation to prioritize animal welfare, provide for a transition to sustainable husbandry methods, including cage-free systems, and disclose related information. The Company resolved to oppose the proposed amendment on the grounds of its existing initiatives and the need for flexibility in management.

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Contents of this filing

Changes this time

Following a shareholder proposal to add a new Article 4 providing for a transition to animal welfare and cage-free farming and the disclosure of related information, the Board of Directors resolved to issue an opposing opinion.

この書類は、機関設計や取締役会の構成そのものは述べていません。上に示したのは、この書類が述べている変更点です。

Contents of this filing
ItemDetails
Changes this timeFollowing a shareholder proposal to add a new Article 4 providing for a transition to animal welfare and cage-free farming and the disclosure of related information, the Board of Directors resolved to issue an opposing opinion.
Items this document does not state (7)
Corporate Governance StructureNumber of directorsNumber of independent officersCommitteePolicy on cross-shareholdingsTakeover defensesControlling shareholder

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

The Company explained that, while it is pursuing management practices based on the Ministry of Agriculture, Forestry and Fisheries' technical guidelines, cage-free farming and the expansion of free-range poultry houses in fiscal 2026, individual management issues should be decided flexibly and promptly after comprehensively considering costs, profitability and the business environment. Prescribing specific policies in the Articles of Incorporation could constrain the Board of Directors' management decisions, and the Company therefore opposes the shareholder proposal.

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Notice Regarding the Shareholder Proposal and the Opinion of the Company’s Board of Directors | Hokuryo Co.,Ltd. (1384) timely disclosure | Komori