Oasis Management increased its stake in クスリのアオキHD to 15.10% and filed an amended large-shareholding report. It is expected to submit shareholder proposals within the next 12 months, including the removal of the representative director from office, the election of officers and a review of the dividend policy.
An amended large-shareholding report filed with the Kanto Finance Bureau revealed that Hong Kong-based investment fund Oasis Management had increased its stake in クスリのアオキホールディングス from 14.05% to 15.10%. The reporting obligation arose on the 17th, and the newly disclosed ownership stake is 15.10%.
Oasis stated that its investment purpose is to "enhance long-term corporate value by correcting serious deficiencies in corporate governance" and plans to submit shareholder proposals within the next 12 months, including the removal of the representative director from office, the election of specified individuals as officers and a review of the dividend policy.
クスリのアオキHD held its annual general meeting on the 19th and passed the company-proposed resolutions, while Oasis had urged other shareholders to vote against the reappointment of the president. The introduction of defensive measures was approved at an extraordinary general meeting held this year, sharpening the conflict between the two sides.
Although the latest purchases did not reach the threshold for activating the defensive measures, they show that Oasis is expanding its influence as a shareholder. Depending on the content of its future proposals, the relationship between management and shareholders may change.