Governance structure
parent company). Voting rights ratio: Not disclosed
When one company holds most of the voting rights, its wishes are more likely to prevail in management. How the interests of minority shareholders are protected is a key issue.
A shareholder proposal was received, and the Board of Directors resolved to oppose the proposal
| Item | Details |
|---|---|
| Controlling shareholder | NIPPON STEEL CORPORATION (parent company). Voting rights ratio: Not disclosed |
| Changes this time | A shareholder proposal was received, and the Board of Directors resolved to oppose the proposal |
Items this document does not state (6)
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 Board of Directors opposed the proposal to repurchase the Company's shares on the grounds that it would constitute abuse of the system, lack fairness and transparency, result in an extremely excessive cash outflow, and potentially have a material adverse impact on the Company's financial condition and business operations. The Board opposed the proposal concerning the appropriation of surplus because it was a short-term proposal seeking a change to a DOE of 8% without taking into account the funds required for future strategic investments and other purposes, and would not contribute to medium- to long-term corporate value or the common interests of shareholders.