TOKYO, May 08 (Pulse News Wire) – Iyogin Holdings,inc. (5830.T) held its board meeting today and decided to oppose shareholder proposals set to be presented at its upcoming fourth regular shareholders' meeting scheduled for June 26, 2026.
The proposals included changes to the company's articles of incorporation, such as renaming the company and altering the composition of the board of directors. Additionally, there was a proposal to remove three directors, including President Kazuhiro Miyoshi, due to concerns over governance and low dividend payouts. The board cited Miyoshi’s leadership in enhancing long-term corporate value and his extensive experience.
In response to the proposals aimed at strengthening corporate governance, the board maintained that existing measures, such as ensuring independent outside directors make up more than one-third of the board, are sufficient. They also defended their policy on retaining shares in affiliated companies, stating that they adhere to Corporate Governance Code principles and regularly review holdings. The board emphasized that the proposed amendments would undermine the company’s operational structure and decision-making processes.
It concluded that maintaining the current framework ensures effective oversight and aligns with best practices outlined in the Corporate Governance Code.
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