Goldcrest Rejects Shareholder Proposals for Dividend Changes and Buybacks

TOKYO, May 15 (Pulse News Wire) – Goldcrest CO.,LTD. (8871.T) rejected shareholder proposals submitted by INTERTRUST TRUSTEES (CAYMAN) LIMITED and Strategic Capital Corporation for its upcoming June 18 annual general meeting.

The proposals included changes to dividend decision-making authority, increased dividend payouts, and share repurchases from specific shareholders. At a May 14 board meeting, directors opposed the proposals citing concerns over maintaining capital adequacy and ensuring sustainable growth.

They argued that internal reserves are crucial for seizing investment opportunities and sustaining financial stability amid volatile real estate markets. Specifically, the board disagreed with increasing dividends to DOE８% levels, stating such moves would undermine long-term value creation.

Additionally, the proposal to repurchase shares held by CEO Yasukawa Hidehisa and related entities was deemed impractical due to lack of seller commitment and potential adverse impacts on liquidity and future investments.