Medipal Holdings announced that it had set 31 October as the record date for convening an extraordinary general meeting. UK-based fund Silchester International Investors had requested that the meeting be convened.
Medipal Holdings set 31 October as the record date in preparation for convening an extraordinary general meeting. Silchester International Investors requested in September that the meeting be held, proposing agenda items including a special dividend of ¥122 and a share buyback of up to ¥95 billion.
The company is considering whether to hold the meeting and said that, if it decides to do so, the schedule and details of the agenda would be announced promptly. The specific date, time and venue have not yet been determined.
Silchester has raised concerns including the fact that the company's return on equity, or ROE, has remained sluggish at 5% to 7% over the past five years. The proposals for a special dividend and share buyback were among the matters cited as the background to its request to convene the extraordinary meeting.
Medipal Holdings is continuing to consider whether to hold the meeting and said that it would announce the details promptly if the meeting is convened.