Komori
Governance1921TOMOE CORPORATIONConstruction and Materials

Notice Regarding the Board of Directors’ Opinion on the Shareholder Proposal

In response to a shareholder proposal calling for consistently high dividends equivalent to a 10% DOE, the Board of Directors resolved to oppose the proposal. The Company explained that it is already pursuing dividend increases, share buybacks and the sale of cross-shareholdings, and that it places importance on balancing shareholder returns with future investment.

Worth reading
90Important
Scored from 2 of 5 sections
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
221
Dividend per share (yen)
Wording
Conditional
How definitive the wording is.

Contents of this filing

Policy on cross-shareholdings

The Company’s policy is to reduce its cross-shareholdings and take other related measures. On 26 February 2026, it sold 3 cross-shareholdings for ¥4,653,396,460.

Policy regarding shares of other companies held to maintain business relationships and for other purposes.

Changes this time

The Company received a shareholder proposal, and the Board of Directors resolved to oppose it.

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
Policy on cross-shareholdingsThe Company’s policy is to reduce its cross-shareholdings and take other related measures. On 26 February 2026, it sold 3 cross-shareholdings for ¥4,653,396,460.
Changes this timeThe Company received a shareholder proposal, and the Board of Directors resolved to oppose it.
Items this document does not state (6)
Corporate Governance StructureNumber of directorsNumber of independent officersCommitteeTakeover 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.

A dividend equivalent to a 10% DOE would amount to ¥221 per share, substantially exceeding the dividend the Company considers appropriate. This could upset the balance between securing funds for future business investment and investment funding and returning profits to shareholders, and could be inconsistent with stable long-term dividends and the enhancement of corporate value over the medium to long term.

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Notice Regarding the Board of Directors’ Opinion on the Shareholder Proposal | TOMOE CORPORATION (1921) timely disclosure | Komori