EIKEN CHEMICAL CO.,LTD. [4549.T]
TOKYO, May 12 (Pulse News Wire) – Eiken Chemical CO.,LTD. (4549.T) rejected a shareholder proposal submitted by Nippon Active Value Fund PLC for the appointment of two outside directors at its upcoming annual general meeting scheduled for June 24, 2026.
The company's board concluded that the proposed candidates lacked independence due to their close ties to Dalton Group, which holds more than 10% of Eiken’s shares. Additionally, concerns were raised that the candidates could prioritize the interests of the Dalton Group over those of ordinary shareholders, particularly in relation to potential privatization plans that could harm broader shareholder interests.
In contrast, Eiken Chemical supports the existing slate of outside directors who possess extensive experience in investment, governance, and global markets, aligning well with the company’s strategic goals outlined in its newly released “EIKEN ROAD MAP 2030” plan aimed at sustainable growth and profitability through enhanced overseas expansion and innovation. The board remains confident that its current composition provides the optimal balance of skills and diversity necessary to maximize long-term corporate value and shareholder benefits.
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